Ulster Savings

thevoid69

Hi, I have opened an account with them as they offer 4.5%. I've just gone for a savings account and not a current account.

Since then, I've been reading a few horror stories online, such as being unable to close the account, interest not being paid, unable to transfer funds to a non Ulster account.

Does Ulster just work exactly like NatWest would with transfers, or is it going to get complicated without a current account with them?

Thanks

35har1old

thevoid69 said:

Hi, I have opened an account with them as they offer 4.5%. I've just gone for a savings account and not a current account.

Since then, I've been reading a few horror stories online, such as being unable to close the account, interest not being paid, unable to transfer funds to a non Ulster account.

Does Ulster just work exactly like NatWest would with transfers, or is it going to get complicated without a current account with them?

Thanks

Have you registered for biometrics approval?
If not withdrawals restricted to £750 per day

thevoid69

35har1old said:

thevoid69 said:

Hi, I have opened an account with them as they offer 4.5%. I've just gone for a savings account and not a current account.

Since then, I've been reading a few horror stories online, such as being unable to close the account, interest not being paid, unable to transfer funds to a non Ulster account.

Does Ulster just work exactly like NatWest would with transfers, or is it going to get complicated without a current account with them?

Thanks

Have you registered for biometrics approval?
If not withdrawals restricted to £750 per day

Not yet as my account hasn't been added to the app

fonesaver

thevoid69 said:

Hi, I have opened an account with them as they offer 4.5%. I've just gone for a savings account and not a current account.

Since then, I've been reading a few horror stories online, such as being unable to close the account, interest not being paid, unable to transfer funds to a non Ulster account.

Does Ulster just work exactly like NatWest would with transfers, or is it going to get complicated without a current account with them?

Thanks

It works the same as NatWest/RBS. Withdrawals can be made by Faster Payments to any account. I have the previous Loyalty Saver and everything works perfectly.

thevoid69

fonesaver said:

thevoid69 said:

Hi, I have opened an account with them as they offer 4.5%. I've just gone for a savings account and not a current account.

Since then, I've been reading a few horror stories online, such as being unable to close the account, interest not being paid, unable to transfer funds to a non Ulster account.

Does Ulster just work exactly like NatWest would with transfers, or is it going to get complicated without a current account with them?

Thanks

It works the same as NatWest/RBS. Withdrawals can be made by Faster Payments to any account. I have the previous Loyalty Saver and everything works perfectly.

Thanks, so I'm not going to run into any issues with the money being trapped in Ulster and not being able to transfer it out to another bank?

Are there any limits per day on anything? 4.5% seems too good to be true.

Middle_of_the_Road

thevoid69 said:

fonesaver said:

thevoid69 said:

Hi, I have opened an account with them as they offer 4.5%. I've just gone for a savings account and not a current account.

Since then, I've been reading a few horror stories online, such as being unable to close the account, interest not being paid, unable to transfer funds to a non Ulster account.

Does Ulster just work exactly like NatWest would with transfers, or is it going to get complicated without a current account with them?

Thanks

It works the same as NatWest/RBS. Withdrawals can be made by Faster Payments to any account. I have the previous Loyalty Saver and everything works perfectly.

Thanks, so I'm not going to run into any issues with the money being trapped in Ulster and not being able to transfer it out to another bank?

Are there any limits per day on anything? 4.5% seems too good to be true.

App withdrawal with biometrics usually £20k
4.5% is a good rate, hardly too good to be true. Ulster were previously market leading with their 5.2% Loyalty

thevoid69

Middle_of_the_Road said:

thevoid69 said:

fonesaver said:

thevoid69 said:

Hi, I have opened an account with them as they offer 4.5%. I've just gone for a savings account and not a current account.

Since then, I've been reading a few horror stories online, such as being unable to close the account, interest not being paid, unable to transfer funds to a non Ulster account.

Does Ulster just work exactly like NatWest would with transfers, or is it going to get complicated without a current account with them?

Thanks

It works the same as NatWest/RBS. Withdrawals can be made by Faster Payments to any account. I have the previous Loyalty Saver and everything works perfectly.

Thanks, so I'm not going to run into any issues with the money being trapped in Ulster and not being able to transfer it out to another bank?

Are there any limits per day on anything? 4.5% seems too good to be true.

App withdrawal with biometrics usually £20k
4.5% is a good rate, hardly too good to be true. Ulster were previously market leading with their 5.2% Loyalty

Is that £20k per day? I'm surprised I can't do more than that.

friolento

thevoid69 said:

Middle_of_the_Road said:

thevoid69 said:

fonesaver said:

thevoid69 said:

Hi, I have opened an account with them as they offer 4.5%. I've just gone for a savings account and not a current account.

Since then, I've been reading a few horror stories online, such as being unable to close the account, interest not being paid, unable to transfer funds to a non Ulster account.

Does Ulster just work exactly like NatWest would with transfers, or is it going to get complicated without a current account with them?

Thanks

It works the same as NatWest/RBS. Withdrawals can be made by Faster Payments to any account. I have the previous Loyalty Saver and everything works perfectly.

Thanks, so I'm not going to run into any issues with the money being trapped in Ulster and not being able to transfer it out to another bank?

Are there any limits per day on anything? 4.5% seems too good to be true.

App withdrawal with biometrics usually £20k
4.5% is a good rate, hardly too good to be true. Ulster were previously market leading with their 5.2% Loyalty

Is that £20k per day? I'm surprised I can't do more than that.

20k per day is a normal limit with many banks but they all also do CHAPS for higher amounts

 https://www.ulsterbank.co.uk/support-centre/banking-from-home/make-payments/how-do-i-make-online-payments-greater-than-320000.html

thevoid69

friolento said:

thevoid69 said:

Middle_of_the_Road said:

thevoid69 said:

fonesaver said:

thevoid69 said:

Hi, I have opened an account with them as they offer 4.5%. I've just gone for a savings account and not a current account.

Since then, I've been reading a few horror stories online, such as being unable to close the account, interest not being paid, unable to transfer funds to a non Ulster account.

Does Ulster just work exactly like NatWest would with transfers, or is it going to get complicated without a current account with them?

Thanks

It works the same as NatWest/RBS. Withdrawals can be made by Faster Payments to any account. I have the previous Loyalty Saver and everything works perfectly.

Thanks, so I'm not going to run into any issues with the money being trapped in Ulster and not being able to transfer it out to another bank?

Are there any limits per day on anything? 4.5% seems too good to be true.

App withdrawal with biometrics usually £20k
4.5% is a good rate, hardly too good to be true. Ulster were previously market leading with their 5.2% Loyalty

Is that £20k per day? I'm surprised I can't do more than that.

20k per day is a normal limit with many banks but they all also do CHAPS for higher amounts

 https://www.ulsterbank.co.uk/support-centre/banking-from-home/make-payments/how-do-i-make-online-payments-greater-than-320000.html

Ok thanks. 

Would you recommend them? No issues transferring between banks?

dcs34

thevoid69 said:

friolento said:

thevoid69 said:

Middle_of_the_Road said:

thevoid69 said:

fonesaver said:

thevoid69 said:

Hi, I have opened an account with them as they offer 4.5%. I've just gone for a savings account and not a current account.

Since then, I've been reading a few horror stories online, such as being unable to close the account, interest not being paid, unable to transfer funds to a non Ulster account.

Does Ulster just work exactly like NatWest would with transfers, or is it going to get complicated without a current account with them?

Thanks

It works the same as NatWest/RBS. Withdrawals can be made by Faster Payments to any account. I have the previous Loyalty Saver and everything works perfectly.

Thanks, so I'm not going to run into any issues with the money being trapped in Ulster and not being able to transfer it out to another bank?

Are there any limits per day on anything? 4.5% seems too good to be true.

App withdrawal with biometrics usually £20k
4.5% is a good rate, hardly too good to be true. Ulster were previously market leading with their 5.2% Loyalty

Is that £20k per day? I'm surprised I can't do more than that.

20k per day is a normal limit with many banks but they all also do CHAPS for higher amounts

 https://www.ulsterbank.co.uk/support-centre/banking-from-home/make-payments/how-do-i-make-online-payments-greater-than-320000.html

Ok thanks. 

Would you recommend them? No issues transferring between banks?

When I used their Loyalty Saver as my main pot of easy access savings I had no issues whatsoever. Instantaneous transfers, albeit these were mostly back and forth to a NatWest account. If you've used NatWest or RBS then it's effectively the same app and user experience.

The only minor thing is NatWest staff in branches need a bit of persuading that they can actually deal with Ulster Bank queries in the same way they are trained to do for RBS ones!

friolento

It’s a Natwest-owned brand, fully FSCS protected

 https://www.fscs.org.uk/check/check-your-money-is-protected/

Withdrawals via their current account are instant (Faster Payment). Not sure how quick withdrawals from savings accounts are, but probably also instant. Subject to the usual fraud checking etc etc.

Only you can decide whether the account/bank is for you. I have held a number of Ulster accounts on and off over the years and have no issues with them. I will pass on this particular account, however, as I don’t like the min £5k requirement for the good rate, and in any case, I still have other easy access accounts which pay more (these are no longer available for new applications).