Ulster Savings

Middle_of_the_Road

friolento said:

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).

Intrigued as to which these are, and are they without withdrawal restrictions?

poolboy

Ulster loyalty savings account is 4% for 5k plus.  There are better accounts, chase 4.65 pays monthly interest so 4.75 compounded.  No min balance to qualify either.

Others paying 4.25%, principality, progressive, coventry, but limited withdrawals.

gravel_2

poolboy said:

Ulster loyalty savings account is 4% for 5k plus.  There are better accounts, chase 4.65 pays monthly interest so 4.75 compounded.  No min balance to qualify either.

Others paying 4.25%, principality, progressive, coventry, but limited withdrawals.

Ulster offers 4.5% on a new account. Chase is 4.41%, compounded it's 4.5%. The 4.75% Chase account has not been available for a few weeks.

https://www.ulsterbank.co.uk/savings/limited-edition-saver.html

OP - with biometrics you can increase daily limits on transactions up to £50k. I've had the Loyalty Saver since it was 5.2% and have no major issues with Ulster at all.

friolento

poolboy said:

Ulster loyalty savings account is 4% for 5k plus.  There are better accounts, chase 4.65 pays monthly interest so 4.75 compounded.  No min balance to qualify either.

Others paying 4.25%, principality, progressive, coventry, but limited withdrawals.

Ulster is currently 4.5% for £5k plus. Chase may not be available as only on offer on invite. Similar at Chip. Cahoot had some good accounts, since dropped. People can go back in the easy access accounts thread if they want to see what they missed - though this may be a frustrating exercise.

allegro120

friolento said:

poolboy said:

Ulster loyalty savings account is 4% for 5k plus.  There are better accounts, chase 4.65 pays monthly interest so 4.75 compounded.  No min balance to qualify either.

Others paying 4.25%, principality, progressive, coventry, but limited withdrawals.

Ulster is currently 4.5% for £5k plus. Chase may not be available as only on offer on invite. Similar at Chip. Cahoot had some good accounts, since dropped. People can go back in the easy access accounts thread if they want to see what they missed - though this may be a frustrating exercise.

This is why I won't be funding my Limited Saver for at least the next 60 days.  All I need for funding RSs is sitting in Cahoot earning 5%   But if one doesn't have any EAs above 4.5% and have £5k+ float, Ulster's offer is the best option. Instant transactions, set up as many payees as you want and monthly interest makes it even better than the previous version.

thevoid69

Account is open and interest rate is 1%. When I add funds above £5000, will the interest rate update straight away on the app?

jaypers

3 days now and account still not showing when I try to login to app. Hopeless.

thevoid69

jaypers said:

3 days now and account still not showing when I try to login to app. Hopeless.

Try and uninstall the app and reinstall and try again

Ayr_Rage

thevoid69 said:

Account is open and interest rate is 1%. When I add funds above £5000, will the interest rate update straight away on the app?

I can answer that, opened yesterday afternoon, downloaded app and registered for online banking, email received saying account open.

App and online were not able to display the account.

Even so I tried adding £1 yesterday but it bounced back with Chase advising "details do not match" although they were correct.

App showed the account this morning and added £25000 from Chase using the same details and it arrived instantly.

However, when selecting the interest rate it shows and states that the details are from the balance at the end of the last business day.

Hopefully I am getting the full amount but the app will not update the rate until Monday at midnight.

jaypers

thevoid69 said:

jaypers said:

3 days now and account still not showing when I try to login to app. Hopeless.

Try and uninstall the app and reinstall and try again

I think it’s a case that they simply haven’t opened it yet. They haven’t come back to me since I got the login ID. The app authenticates fine, it’s just that there is no account. Ulster Bank not exactly filling me with much confidence.