Ulster Bank BEWARE

Tommaso46

Seduced by the promise of a good interest rate, and in the absence of any **warnings** on the comparison websites, I opened an Ulster Bank savings account although the process was far more labyrinthine than it usually is when opening an account. I paid quite a lot of money into it. The paying-in process was very easy. TOO EASY as I then discovered when I decided to try taking some money out. YOU CAN'T! So I then decided to just close the whole account. BUT YOU CAN'T! The guy on the phone was flummoxed and had to go away for a long time, and ask his line manager. When he came back he told me the only way you can  get your money out of an Ulster Bank savings account is to have an Ulster Bank current account. OR (he suggested) go to a Natwest branch and ask them to do it. So I went to my local Natwest branch in London where the (very helpful) lady said there was nothing she could do. She did, however, manage to download a "close account" form which, however, she couldn't sign because she doesn't work for Ulster Bank. She suggested I write a letter to Ulster Bank in Belfast, giving all my details and enclosing the form the lady couldn't sign. Then she VERY KINDLY put the form and my letter in a NatWest envelope and posted it off for me. As of today 27 December I am waiting to see if they close my accoun as requested. so BE WARNED: UNLESS YOU LIVE IN NORTHERN IRELAND do NOT open any accounts with Ulster Bank.

flaneurs_lobster

Wouldn't it be easier to just open a current account? The hard work is the ID for Ulster Bank that you've already done. 

Takes seconds to move cash from Ulster savings to current account and then onwards.

Tommaso46

I've already answered that question. My purpose here is to warn others about what will happen if they open an Ulster Bank savings account. It is normal, when you open an easy access savings account, that you should be able to make deposits and withdrawals directly to/from that account. I do it with various other accounts I have.

amanda1024

I think all my savings accounts are linked to current accounts in the same bank - and at least some of them, the money can only be transferred from the savings to the current account and not directly to other banks (haven’t tried this with all of them). But with online banking it only takes a minute to transfer from savings to current then from current to another bank.

Tommaso46

I have several savings accounts and they are all linked (including the Ulster Bank one) to my FirstDirect current account (my main day to day current account for all transactions.

I am able to pay into/withdraw from all of them through my FirstDirect current account EXCEPT THE ULSTER BANK one. 

I have no intention of opening and operating another current account. Especially not an Ulster Bank current account - given the palaver of emails and texts I had to go through to open the deposit account.

wmb194

Tommaso46 said:

I've already answered that question. My purpose here is to warn others about what will happen if they open an Ulster Bank savings account. It is normal, when you open an easy access savings account, that you should be able to make deposits and withdrawals directly to/from that account. I do it with various other accounts I have.

Making the same comment in multiple threads makes things confused; the "answer" from the other Ulster thread:

"I shouldn't have to go through YET ANOTHER process to open an Ulster Bank current account when all I wanted was to be able to make withdrawals from my Ulster Bank savings account. And I don't want an an Ulster Bank current account. I hope that answers your question."

https://forums.moneysavingexpert.com/discussion/6488608/ulster-bank-savings-account#latest

If it's easy and it would make withdrawing your money easier why not do  it? Easier than the process you've followed anyway...

Tommaso46

I'm only replying to email notifications I receive about my original post. Sorry if my posts are also appearing on other threads - that is out of my control.

wmb194

Tommaso46 said:

I'm only replying to email notifications I receive about my original post. Sorry if my posts are also appearing on other threads - that is out of my control.

You posted this same OP in another thread on another board: see my link.

Molehusband

Tommaso46 said:

Seduced by the promise of a good interest rate, and in the absence of any **warnings** on the comparison websites, I opened an Ulster Bank savings account although the process was far more labyrinthine than it usually is when opening an account. I paid quite a lot of money into it. The paying-in process was very easy. TOO EASY as I then discovered when I decided to try taking some money out. YOU CAN'T! So I then decided to just close the whole account. BUT YOU CAN'T! The guy on the phone was flummoxed and had to go away for a long time, and ask his line manager. When he came back he told me the only way you can  get your money out of an Ulster Bank savings account is to have an Ulster Bank current account. OR (he suggested) go to a Natwest branch and ask them to do it. So I went to my local Natwest branch in London where the (very helpful) lady said there was nothing she could do. She did, however, manage to download a "close account" form which, however, she couldn't sign because she doesn't work for Ulster Bank. She suggested I write a letter to Ulster Bank in Belfast, giving all my details and enclosing the form the lady couldn't sign. Then she VERY KINDLY put the form and my letter in a NatWest envelope and posted it off for me. As of today 27 December I am waiting to see if they close my accoun as requested. so BE WARNED: UNLESS YOU LIVE IN NORTHERN IRELAND do NOT open any accounts with Ulster Bank.

I don't understand why you're making all this fuss. I do not live (and have never lived) in Ulster and I have never visited an Ulster Bank branch anywhere. I just opened an Ulster Bank Current account online many years ago. It was dead easy and opened very quickly. So this has enabled me to open (& close) their savings accounts dead easily at any time.
So why can't you do the same instead of posting this lengthy moan here?

boingy

Open a current account, move the savings money, close both accounts. Less effort than posting the rant on here (twice).

35har1old

Tommaso46 said:

Seduced by the promise of a good interest rate, and in the absence of any **warnings** on the comparison websites, I opened an Ulster Bank savings account although the process was far more labyrinthine than it usually is when opening an account. I paid quite a lot of money into it. The paying-in process was very easy. TOO EASY as I then discovered when I decided to try taking some money out. YOU CAN'T! So I then decided to just close the whole account. BUT YOU CAN'T! The guy on the phone was flummoxed and had to go away for a long time, and ask his line manager. When he came back he told me the only way you can  get your money out of an Ulster Bank savings account is to have an Ulster Bank current account. OR (he suggested) go to a Natwest branch and ask them to do it. So I went to my local Natwest branch in London where the (very helpful) lady said there was nothing she could do. She did, however, manage to download a "close account" form which, however, she couldn't sign because she doesn't work for Ulster Bank. She suggested I write a letter to Ulster Bank in Belfast, giving all my details and enclosing the form the lady couldn't sign. Then she VERY KINDLY put the form and my letter in a NatWest envelope and posted it off for me. As of today 27 December I am waiting to see if they close my accoun as requested. so BE WARNED: UNLESS YOU LIVE IN NORTHERN IRELAND do NOT open any accounts with Ulster Bank.

Easy excess accounts usually have a nominated account that you setup at the time of application and can only pay money out to that account you can't setup a payee list. These easy access accounts are usually with the likes of Paragon who Don't offer current accounts.
Banks like Santander offer easy excess accounts but you can't setup a payee you can only transfer between your active accounts with Santander and if you want to transfer out you need to transfer to your current account and make onward transfer to the outside provider.
HSBC is exactly like that as I  discovered.
I still had online excess but no current account opened a savings account but then discovered could not make a withdrawal would have to go to branch to close.
I think banks that offer current accounts operate in the same way
When you  visited Nat West did you ask if you had a digital saver account with them could you make a direct payment out of that account to a outside source?