Ulster savings. 5.2%...... Or not?

So I went through the MSE link to open one of these since it was top draw.

500 years passed by before I finally got to the stage where you can log in (or at least it felt like it) 

Check the rate......2.25%. 

What's going on? MSE still shows 5.2%. 

And while I'm asking questions about this account, it said about sending a card reader before I could have full access such as transferring money. 

Yet I don't have a card to use in the card reader. 

Is this account supposed to come with a card? 


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  • eskbanker
    eskbanker Posts: 29,826
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    Check the rate......2.25%. 

    What's going on? MSE still shows 5.2%.
    You only get the 5.2% rate with balances of over £5K, below that it's 2.25% - how much have you paid in, and when?
  • grumbler
    grumbler Posts: 58,628
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    So I went through the MSE link to open one of these since it was top draw.

    ...

    Check the rate......2.25%. 

    What's going on? MSE still shows 5.2%. 


    After going through the link, you did check what you applied for, didn't you? On the very first page is says:
    Earn 2.25% AER/Gross p.a. (variable) on balances between £1 - £4,999 and 5.20% AER/Gross p.a. (variable) on balances of £5k and over

    And MSE article says "Min. deposit £5,000".

    We are born naked, wet and hungry...Then things get worse. :(

    .withdrawal, NOT withdrawel ..bear with me, NOT bare with me
    .definitely, NOT definately ......separate, NOT seperate
    should have, NOT should of
    .....guaranteed, NOT guarenteed
  • eskbanker
    eskbanker Posts: 29,826
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    grumbler said:

    And MSE article says "Min. deposit £5,000".

    In which case it's wrong!  That's the minimum in order to get the 5.2% rate, but accounts can be opened and funded with token deposits, hence the lower rate being quoted by Ulster....
  • B0bbyEwing
    B0bbyEwing Posts: 1,176
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    Ahh yes. I had read that when applying but had totally forgotten in the time that's passed between then & now, so when I saw the rate I wondered what had happened.

    As for what I've paid in - nothing so far due to the message I got. I've 10k to go in instantly but I don't want to do that and not be able to withdraw because I'm waiting on a card reader turning up for a card I don't even have (yet). 


  • You will get an Anytime Banking Card but Ulster Bank are notoriously slow and they do not seem to start the next part of the process until the previous one is completed. For me it took 3 weeks to get the account set up and lots of frustration at their slowness and antiquated systems. Once all set up, and you understand the 'stupidness' of their systems the account works well and has instant withdrawals and deposits.
  • grumbler
    grumbler Posts: 58,628
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    eskbanker said:
    grumbler said:

    And MSE article says "Min. deposit £5,000".

    In which case it's wrong!  
    Yes, but in "Top savings accounts"  and 5.2% context it's acceptable IMO.
    We are born naked, wet and hungry...Then things get worse. :(

    .withdrawal, NOT withdrawel ..bear with me, NOT bare with me
    .definitely, NOT definately ......separate, NOT seperate
    should have, NOT should of
    .....guaranteed, NOT guarenteed
  • B0bbyEwing
    B0bbyEwing Posts: 1,176
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    You will get an Anytime Banking Card but Ulster Bank are notoriously slow and they do not seem to start the next part of the process until the previous one is completed. For me it took 3 weeks to get the account set up and lots of frustration at their slowness and antiquated systems. Once all set up, and you understand the 'stupidness' of their systems the account works well and has instant withdrawals and deposits.
    Thanks for the info. Much appreciated. 

    Think I'll take a look at 'the next best thing' get it opened & see what's ready to go first. 

    If their first stage is anything to go by then I'll be long since buried by the time a card & card reader turns up. 
  • B0bbyEwing
    B0bbyEwing Posts: 1,176
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    Well this fills me with confidence. Ulster have just emailed me this afternoon to say they've received my application and they'll be in touch should they need ID as part of this application. 

    Can't seem to help feeling like I had the exact same contact from them weeks ago!!! 
  • stoneman
    stoneman Posts: 4,517
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    I can't get any further in the application because I need to pick a branch. No matter how far out I go it comes up with no results. 
    The common law of business balance prohibits paying a little and getting a lot. If you deal with the lowest bidder, it is well to add something for the risk you run, and if you do that you will have enough to pay for something better.
  • stoneman said:
    I can't get any further in the application because I need to pick a branch. No matter how far out I go it comes up with no results. 

    I just used a Belfast branch. I don't live in NI.




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