Ulster Bank BEWARE

Malchester

Should have read terms and conditions properly. Withdrawal / transfer limit per day applies only for working days. If you transfer on a Saturday, Sunday or Monday it counts towards Monday's transfer limit. Didn't realise this (are other banks the same?). So, presumably, at Easter any transfers on Friday, Saturday, Sunday, Monday and Tuesday will all count towards Tuesdays limit.

geoffreyq

This is correct. I was told the same by the Ulster Bank employee on the phone today Feb 26. The information was and is incorrect. I was eventually able to close my account by registering biometric details on the App. My problem was that I kept getting apparently scam text messages but Ulster Bank refused to say which were from them and which were not. The Ulster Bank online service is simply not worth the effort. I should have realised that the high interest rate was scant compensation.

flaneurs_lobster

geoffreyq said:

This is correct. I was told the same by the Ulster Bank employee on the phone today Feb 26. The information was and is incorrect.

To what are you referring and is it correct or is it incorrect?

youngretired

I've opened a loyalty saver as I switched into Ulster recently. I've paid £5000 into the account yesterday but the interest rate is still saying 2.25% and not the 5.20%. Has anyone else had this issue as it states the rate for the end of day of the 6th March, when it had £5000 in so should say 5.20%.

Tommaso46

That's what I like to think of as the "Natwest surprise". It happened to me once before. You think you're getting one interest rate but by the time you've signed up and paid in your money, the interest rate has dropped (and they didn't tell you in the hope that you won't check).

Middle_of_the_Road

youngretired said:

I've opened a loyalty saver as I switched into Ulster recently. I've paid £5000 into the account yesterday but the interest rate is still saying 2.25% and not the 5.20%. Has anyone else had this issue as it states the rate for the end of day of the 6th March, when it had £5000 in so should say 5.20%.

I observed the same issue, it resolved soon enough within 24 hours IIRC.

Middle_of_the_Road

Tommaso46 said:

That's what I like to think of as the "Natwest surprise". It happened to me once before. You think you're getting one interest rate but by the time you've signed up and paid in your money, the interest rate has dropped (and they didn't tell you in the hope that you won't check).

Not the case in this instance though.

youngretired

They've just responded saying the default of their system is to show the lower rate, but to be reassured that I will be earning the 5.20% interest. 

Tommaso46

Oh so that's all right then ......not

Biffo1967

All the problems mentioned for Ulster Bank are valid but wait till you try to leave and close your account. Despite the advice given by staff there is no way to request closure using the android app. The website does allow you to request a closure but when I try the response comes back that the sort code of my bank is invalid. While I'm on the phone to customer service the person can Google the sort code and confirm that it is the valid one for HSBC. I go through the procedure with them over and over and ensure that there are no dashes nor spaces left in or after the code. After many attempts I'm told to take the money from the account over three days, bearing in mind that if I withdraw on Friday and Saturday I won't be able to withdraw the final amount until after 1830 on Monday.
I have managed to empty my account but still have no option to close it and get the interest earned. I've been told to call customer services on Tuesday and they will try to manually close it. Failing that, I've been told to write a letter and been given two different addresses by two separate customer services people.
It really is like Hotel California.
I'm keeping my fingers crossed and will wait in their long phone queue tomorrow but I will certainly never bank with them again. Forgot to mention that the fraud department blocked Saturday's withdrawal to the sole account in my name that had been set up and told me by text to await their phone call where I had to stay on the line for ages responding to similar questions over and over as I was assured that this was all to protect me from fraud and constantly agree that I understood all that was said. Obviously this was to protect the bank rather than me and I was forced to agree that any problems would be my sole fault before the money was released.  Luckily I was recording the conversation - maybe I'll get the George Orwell award!