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Ulster Bank: Easy Access Savings Account at 1.25% pa

edited 6 August 2017 at 9:54AM in Savings & Investments
500 replies 80.4K views
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  • edited 8 February 2018 at 8:34PM
    adindasadindas Forumite
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    edited 8 February 2018 at 8:34PM
    verntern wrote: »
    Will be interesting to see how quickly (or slowly) they close down this account for me. Fed up with the hassle. Posted my letter of closure (first class stamp) on Sunday Feb. 4th. Hopefully arrived with them Wednesday Feb.7. Such a primitive procedure. Chuckle, asked for faster payment into my main bank account. We will see :)

    Withdraw the balance and leave £1.01 will not do harm at all.
    When they have a new good product you do not need to experience a painful ID verification like the one you had when opening this account.

    When they are getting annoy with £1.01 account, let them do the job to close it.
  • edited 12 February 2018 at 4:28PM
    vernternverntern Forumite
    247 posts
    edited 12 February 2018 at 4:28PM
    Hope those who have gone through the tedious, primitive process of writing to them to CLOSE this account have a better outcome than me. Probably at least 4/5 working days now since they received my letter. Correctly addressed, containing my customer number, account number, sort code of my bank account for the proceeds to be paid into and my signature. Still nothing. This sorry saga may eventually beat the record of time taken to open the account to that of closing it.
  • glider3560glider3560 Forumite
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    I posted a closure letter on Sunday 4th February to the freepost address given in this thread. Closing statement received today, dated 8th February.

    Note sure if this was due to the letter, or becasue I lowered the balance to zero. Either way, it's closed.

  • darren72darren72 Forumite
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    glider3560 wrote: »
    I posted a closure letter on Sunday 4th February to the freepost address given in this thread. Closing statement received today, dated 8th February.

    Note sure if this was due to the letter, or becasue I lowered the balance to zero. Either way, it's closed.

    Sounds very straightforward. I'm going to wait until nearer the time of the rate drop - but thanks for the update.
  • MarksfishMarksfish Forumite
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    I still haven't received any notification of the rate dropping. What happens if I don't get any notification, does it still drop?
  • Tom99Tom99 Forumite
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    Marksfish wrote: »
    I still haven't received any notification of the rate dropping. What happens if I don't get any notification, does it still drop?

    Yes it will drop - you then complain but I am not sure how far that will get you.
  • millermiller Forumite
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    The closure was done within a week. However, if you want a paper closure statement, I'd recommend turning paper back on before sending the request. It's no big deal, but the only way I'd known the request had been actioned was when my online access stopped working.
  • edited 6 August at 3:37PM
    RG2015RG2015 Forumite
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    edited 6 August at 3:37PM
    Remember Ulster Bank offering a market leading easy savings account back in June 2017 with a rate of 1.25%?

    I have just received an email from Ulster Bank saying the rate is being reduced from 0.15% to 0.01% from 5th October.

    Do they really believe that anyone has any money left in there?
  • 18821882 Forumite
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    I have £0.00 in mine, I had left £1.00 in it for a while to keep it open but tired of that. I'd have closed it if there was a non-postal way to do it!
  • organumorganum Forumite
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    Me too and there must be many like us who cannot do it online so just leave the account with nothing in it. They still write to me so it is costing them money.
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