Ulster Bank BEWARE

Malchester

Yes they are talking through a certain part of their rear anatomy. I have a card reader and an anytime card but no current account.  I have used the card and card reader a few times without problems.

2Sheds

Not the easiest savings account to set up and a slow process, but all done now.Card reader due to be sent out.

No pain no gain

Curlew123

I am currently trying to open the savings account but what a nightmare!!! I've received texts, letters and emails with different information and though I supposidly have everything I need to access the account the "Anytime internet Banking" process - DOES NOT WORK!!!!! - What a joke there is nothing "anytime" about it ....should be called "At no time" can  you access your own account.  Giving up and going to open an account with a different provider.......

Tommaso46

Very wise. It wasn't until I had opened one of those accounts and deposited money it that I discovered you can't take money out ! (Unless you also open a current account and get a card + card reader). And I wasn't able to close the account either. Ulster Bank is part of NatWest to I went to my local NatWest branch here in London - where I don't even have an account - and the lady there very kindly helped me to download the form you need to close the account, got me to write a letter, and sent them both off in an official Natwest envelope. About 2 weeks later someone called me from Belfast, checked my identity, and told me the account would be closed within 48 hours. About a week later my money arrived.

NEVER AGAIN.

eskbanker

Tommaso46 said:

Very wise. It wasn't until I had opened one of those accounts and deposited money it that I discovered you can't take money out ! (Unless you also open a current account and get a card + card reader). 

It's already been mentioned by multiple posters that you don't need a current account with Ulster in order to withdraw from their savings one, even if someone erroneously told you that....

Tommaso46

yes- I think the guy on the phone didn't know what he was talking about. I'm so glad to have got away. Never going back to Ulster Bank.

Malchester

It was a laborious process to open the account but once opened it works really well. Deposits and withdrawals are instant. And you DON'T need a current account with Ulster Bank to use the Loyalty Saver. Will be interesting to see how long the rate stays at 5.2%. My only minor issue is that interest is paid annually whilst I prefer monthly. (Also have Cahoot Simple Saver and DF Capital 1 day access (now NLA) paying roughly the same rate)

soulsaver

For info:
As at 19th Jan, Ulster Bank doesn't allow applications for the Loyalty Saver unless you have a Current Account.

Loyalty Saver | Easy access savings account | Ulster Bank

"Please be aware that this account is now only available to existing Ulster Bank current account holders."

pridehappy

I've heard of savings accounts requiring a current account for transfers, but they usually will only allow you to open the saver once you've got an active current account.

I agree that this is really bad practice from Ulster Bank, and I'd consider submitting a complaint for it not being clear enough.

I'm pleased I chose to renew with Skipton Building Society now (when they offered virtually the same product), a breeze in comparison to what sounds like is happening over at Ulster!

eskbanker

pridehappy said:

I've heard of savings accounts requiring a current account for transfers, but they usually will only allow you to open the saver once you've got an active current account.

I agree that this is really bad practice from Ulster Bank, and I'd consider submitting a complaint for it not being clear enough.

What specifically are you suggesting is "really bad practice from Ulster Bank", given the way the thread has developed?  They are now clear that savings accounts will only be opened for current account holders, but this restriction wasn't in place earlier on....