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  • FIRST POST
    • Hattie625
    • By Hattie625 22nd Jun 17, 11:12 AM
    • 714Posts
    • 572Thanks
    Hattie625
    Ulster Bank: Easy Access Savings Account at 1.25% pa
    • #1
    • 22nd Jun 17, 11:12 AM
    Ulster Bank: Easy Access Savings Account at 1.25% pa 22nd Jun 17 at 11:12 AM
    Ulster Bank are now offering an Easy Access savings account paying 1.25% per annum, which easily beats all other offerings for accounts of this type. Funds can be withdrawn anytime with no penalty.

    Opened and operated online. Minimum balance 1, maximum 5 million.

    Available to UK residents of 18 or above (edited to correct age limit; previously incorrectly stated to be 16)

    This would be useful to hold short-term money which is to be drip-fed into a regular saver account (or accounts).



    (This has been mentioned on the Instant Access Savings Account Discussion thread, but I thought a separate thread would be useful to highlight this account).

    EDITED TO ADD (28 JULY, FURTHER EDITED 6 AUGUST)


    Before applying online to open this account, please be aware that the online opening process can be slow and it may be several weeks before you are in a position to fully operate the account (That said, my account was up and running within 2-3 weeks of initial application; while this is certainly slower than other savings account offerings, it was not undue and worth the wait).

    PLEASE ALSO BE AWARE OF THE FOLLOWING:-

    To withdraw funds from the account to another (non Ulster Bank) account, you require an Ulster Bank Anytime Banking card, a PIN for that card and a card reader. You need to apply for a card reader online (it will not be automatically sent). You should apply as soon as you have online access to the account. According to the Ulster Bank information for this account, an Anytime Banking card and PIN will automatically be sent to you when you apply for a card reader. However some people on this thread are reporting unacceptable delays in receiving the card, PIN or card reader, or UB denying that an online order was made. (Note:- if you have the card and PIN, it has been reported on this thread that a card reader issued by another bank will work to enable you to withdraw funds from this account). It has also been reported that you can use the Ulster Bank mobile phone app to withdraw (up to) 250 per day to another account without requiring the card, card reader and PIN. It is suggested that you do not rely on this but follow the commonsense rule which follows in bold lettering DO NOT LODGE FUNDS INTO THIS ACCOUNT UNTIL YOU ARE IN POSSESSION OF THE CARD, PIN AND A CARD READER AS IT WILL NOT BE POSSIBLE TO WITHDRAW FUNDS (BEYOND 250 PER DAY AFTER THE INCONVENIENCE OF DOWNLOADING AND USING THE MOBILE PHONE APP) UNTIL YOU HAVE THESE.
    Last edited by Hattie625; 06-08-2017 at 9:54 AM. Reason: Correction
Page 24
    • miller
    • By miller 1st Feb 18, 3:31 PM
    • 1,239 Posts
    • 433 Thanks
    miller
    Given the shambolic nature in which these accounts were opened, for me it will have an effective life of 8 months (August 2017 - March 2018 inclusive).

    Bait and switch at its best.
    • fwor
    • By fwor 1st Feb 18, 4:42 PM
    • 5,993 Posts
    • 4,049 Thanks
    fwor
    Agreed - what a waste of time and effort for all concerned. I will be transferring everything out on the 5th.

    I wonder if whoever came up with the idea will ever have to account for the administration costs and the loss of goodwill from all of us that see our time as being wasted.
    • miller
    • By miller 1st Feb 18, 5:26 PM
    • 1,239 Posts
    • 433 Thanks
    miller
    I know there was some confusion regarding closing these accounts. Nearer the time if they insist on writing in, this may be useful:

    Freepost RRJA-GSKU-BXRB
    Ulster Bank
    Danesfort
    Stranmillis Road
    BELFAST
    BT9 5UB
    • King Of Fools
    • By King Of Fools 2nd Feb 18, 9:56 AM
    • 1,551 Posts
    • 599 Thanks
    King Of Fools
    Agreed - what a waste of time and effort for all concerned. I will be transferring everything out on the 5th.
    Originally posted by fwor
    Remember that there is a daily withdrawal limit of 20k so you might have to start moving money out earlier.

    Also, given that the interest rate can already be beaten it is probably worth moving your money now rather than waiting.
    • soulsaver
    • By soulsaver 2nd Feb 18, 11:16 AM
    • 1,670 Posts
    • 658 Thanks
    soulsaver
    I'm leaving it for a potential switching bonus but near emptied my account last night into a 1.44%(nla* to new applicants) Birmingham Midshires.

    CBA earlier for 0.19% but, as I will when it cuts, may as well do it now.

    PS BM have updated their security... if it's been a month or so since you logged in, prepare to be locked out.
    Phone and if you then pass security checks they send you a procedure & token to re-set your security.

    Edit - it's a savings account...doh! Ta Derrick
    *NLA - No longer available
    Last edited by soulsaver; 02-02-2018 at 5:06 PM.
    • darren72
    • By darren72 2nd Feb 18, 11:26 AM
    • 1,171 Posts
    • 255 Thanks
    darren72
    I'm leaving it for a potential switching bonus but near emptied my account last night into a 1.44 Birmingham Midshires.. CBA earlier for 0.19% but, as I will when it cuts, may as well do it now.
    Originally posted by soulsaver
    Do you have any details on the Birmingham Midshire 1.44% account, I can't find anything on their website about it or anything that comes close.
    • retiree
    • By retiree 2nd Feb 18, 11:41 AM
    • 82 Posts
    • 45 Thanks
    retiree
    Do you have any details on the Birmingham Midshire 1.44% account, I can't find anything on their website about it or anything that comes close.
    Originally posted by darren72
    No longer available to new applicants.
    • roddydogs
    • By roddydogs 2nd Feb 18, 12:16 PM
    • 5,986 Posts
    • 2,505 Thanks
    roddydogs
    Anyone know if Icici bank does "instant" transfers? (Not. Next day)
    • derrick
    • By derrick 2nd Feb 18, 2:40 PM
    • 7,049 Posts
    • 2,290 Thanks
    derrick
    I'm leaving it for a potential switching bonus
    Originally posted by soulsaver
    It's a savings account, not liable for CASS.



    .
    Don`t steal - the Government doesn`t like the competition


    • soulsaver
    • By soulsaver 2nd Feb 18, 3:40 PM
    • 1,670 Posts
    • 658 Thanks
    soulsaver
    It's a savings account, not liable for CASS.



    .
    Originally posted by derrick
    Had to check (age?) and.. You're right, I'll get my 5 out then... and bin it..(the ac, not the fiver..)
    • soulsaver
    • By soulsaver 2nd Feb 18, 3:46 PM
    • 1,670 Posts
    • 658 Thanks
    soulsaver
    Do you have any details on the Birmingham Midshire 1.44% account, I can't find anything on their website about it or anything that comes close.
    Originally posted by darren72
    No longer available to new application. Sorry, should have said to avoid goose chases..
    post edited.
    • veryintrigued
    • By veryintrigued 2nd Feb 18, 4:13 PM
    • 2,369 Posts
    • 1,784 Thanks
    veryintrigued
    Don't be too quick to bin this account completely.

    Those of us whom already had an Uister account (mine had zero in as closing it wasnt that easy) had a far easier time opening up this specific one.

    If a new one comes up in the future then you'll be all set.
    • G_M
    • By G_M 2nd Feb 18, 8:31 PM
    • 44,056 Posts
    • 52,186 Thanks
    G_M
    on the plus side, if you close, you'll be compounding the interest early.
    • J B
    • By J B 2nd Feb 18, 10:57 PM
    • 2,724 Posts
    • 958 Thanks
    J B
    Just had an email to say they will be lowering the rate to 1% on 6th April 2018!
    Originally posted by King Of Fools
    We have a joint account - Mrs B has had the email ... but I haven't!!!!!
    • glider3560
    • By glider3560 3rd Feb 18, 8:51 AM
    • 3,552 Posts
    • 2,252 Thanks
    glider3560
    I tried to close this online yesterday (money was already transferred to Birmingham Midshires when it launched). Couldn't do it online. Spoke to someone on live chat who said you can't close your only savings account online. Told me to go to a branch (I'm in England). That's not possible. So he told me to write to "your nearest branch".

    I can see the Downpatrick branch getting a lot of letters....!

    I could leave the account open, but I'm trying to reduce the number of unused accounts I have.

    • AirlieBird
    • By AirlieBird 3rd Feb 18, 9:12 AM
    • 1,014 Posts
    • 825 Thanks
    AirlieBird
    https://digital.ulsterbank.co.uk/personal/savings/instant-access-accounts/eSavings.html
    Under General Account Information

    How do I close my account?

    If the eSavings account is in joint names or if this is your only connection you can request closure by writing to the following address:

    Ulster Bank Online Savings Account Closure
    Retail and Corporate Operations
    Banking Operations
    UB Services
    Ulster Bank Ireland Limited
    Danesfort
    Stranmillis Road
    Belfast
    BT9 5UB

    When writing to us, please sign and date the letter and also indicate where any remaining funds in the account should be transferred to.

    All requests are subject to additional security checks and consequently we may need to contact you for additional identification to verify the request.

    If the eSavings account is in a sole name and you have other connections with us you can close your account online within Anytime Banking.
    Did you really mean to put loose?
    Lose: no longer possess, not to retain, unable to find
    Loose: not firmly or tightly fixed in place
    • roddydogs
    • By roddydogs 3rd Feb 18, 9:42 AM
    • 5,986 Posts
    • 2,505 Thanks
    roddydogs
    What a load of faff I think ill just leave 1in!
    • glider3560
    • By glider3560 3rd Feb 18, 12:02 PM
    • 3,552 Posts
    • 2,252 Thanks
    glider3560
    What a load of faff I think ill just leave 1in!
    Originally posted by roddydogs
    It's possible to reduce the balance to zero. I've done this. Hopefully they'll close it automatically.

    • veryintrigued
    • By veryintrigued 3rd Feb 18, 8:36 PM
    • 2,369 Posts
    • 1,784 Thanks
    veryintrigued
    It's possible to reduce the balance to zero. I've done this. Hopefully they'll close it automatically.
    Originally posted by glider3560
    See above - they won't if its like the previous incarnation.
    • talexuser
    • By talexuser 5th Feb 18, 1:54 PM
    • 2,397 Posts
    • 1,896 Thanks
    talexuser
    What's the consensus on leaving it open with a few quid - do they come up now and then as a best buy loss leader rate? (I haven't noticed myself).
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