Ulster Loyalty Savings Account

Milletr

I noticed that this account is no longer listed on MSE under "Top Easy Access", even though its listed as 5.2%, which is higher than most on the list. 

Any particular reason for this? It was there a few months ago.

I saw some negative comments about the registering process, and some confusion on whether you need an account with them first. But on the face of it, it still seems like a good deal.
   

  

gravel_2

I could be wrong but I think when the 5.2 accounts were original floating around they were NOT loyalty accounts. 

fun4everyone

I asked about this recently here https://forums.moneysavingexpert.com/discussion/comment/80691751#Comment_80691751

Milletr

Thanks a lot, I hadn't seen that link

Unless I am missing something, according to the application process on the Ulster site, you don't need to have an existing account with them. I'm interested because it has no max limit, but is easy access.   

Malchester

The loyalty account is for new or existing current account customers

t1redmonkey

Could be because of the £5k minimum to get that interest rate.  You only get 2.25% if you have less than that.

allegro120

Milletr said:

I noticed that this account is no longer listed on MSE under "Top Easy Access", even though its listed as 5.2%, which is higher than most on the list. 

Any particular reason for this? It was there a few months ago.

I saw some negative comments about the registering process, and some confusion on whether you need an account with them first. But on the face of it, it still seems like a good deal.
   

  

I've opened it on 24th November last year and didn't need to be an existing customer, so 'loyalty' part of the account title seemed strange.  Later they introduced the 'loyalty' requirement.  I can't recall any significant difficulties opening it.  It is the best available deal for EA at the moment and it looks like we won't see any deals like this for a long time.  This account is very similar to Santander issue 3, you can deposit from anywhere, withdraw to everywhere and transactions are instant 24/7. Metro and Santander are decreasing their rates soon so Ulster will probably become the main home for my EA money. I have few more 5.2% EAs, but they are not as flexible.  However, Ulster might announce a rate drop tomorrow, it's unpredictable.

pafpcg

JOINT Loyalty Saver accounts: Caution!
After opening an Ulster current account last month (to collect my £200!), I also opened a Loyalty Saver as a fall-back for when Santander reduce the rate on their eSaver account in May (assuming that the rate at Ulster doesn't also drop).  I had no problem opening my sole Loyalty Saver account - I was able to set it up and fund it within a couple of days.  But when my partner tried to open a JOINT Loyalty Saver four days ago, it hasn't gone at all smoothly.  Although my partner received an immediate acknowledgement email for the application, I also received an email as the second named party:
XXXXX XXXXXX has started an application to open a joint LOYALTY SAVER with you.
What you need to do:
If you want to open the account with XXXXX, you just need to log in to complete your application.
Log into the Mobile Banking app to complete your application
So, I've logged-in using both the web-browser system on my computer and my mobilephone app - on neither system could I find any reference to the joint Saver application.  Two days later, Ulster sent us both reminder emails saying I need to confirm my agreement by logging-in.  Still no sign of any option to agree when I login to my Ulster account.
So, I tried Cora and eventually "talked" to a operator who after some delay said JOINT Loyalty Savers weren't allowed and I should set up a Digital Regular Saver!  Obviously, this person knows only the NatWest/RBS product range:  Digital Regular Savers aren't offered by Ulster and the Ulster Loyalty Saver FAQs state specifically that joint accounts are available (plus the first question in the application process is 'Sole or Joint account?'); the operator terminated the "conversation" as soon as I queried that claim.  My partner then used Cora to query the status of the application and at least got someone who agreed that joint accounts are allowed but couldn't understand why I wasn't able to complete my side of the application, finally suggesting waiting a few days to see if anything happens...
Can anyone shed light on the application process for joint saver accounts?  What does the confirmation process for the second account-holder look like?