Ulster Bank Charges (Waivers)

desodon

Hi, Ulster Bank are going charging €4 a month fee unless you meet one of 2 waivers.

Waiver 1: Lodge a cleared total of €3,000 per month. Your salary counts as a lodgement

Waiver 2: Maintain a minimum cleared balance of €3,000.

In relation to Waiver 1, Say I get paid €2000. Can I just transfer 1000 to my AIB account. Then a couple of days later, transfer the same €1000 back to my Ulster Bank account. Does that count as €3000 of lodgements?

MugMugs

desodon wrote: »

. Does that count as €3000 of lodgements?

Yup.

Think it can even be same day transfer back.

granturismo

desodon wrote: »

Waiver 2: Maintain a minimum cleared balance of €3,000.

In relation to Waiver 1, Say I get paid €2000. Can I just transfer 1000 to my AIB account. Then a couple of days later, transfer the same €1000 back to my Ulster Bank account. Does that count as €3000 of lodgements?

Do you have free banking with AIB? You need to keep a minimum of €2500 in your current account there at all times. Otherwise AIB will charge you for the transfer.

Do you also need to keep a balance of €3000 with Ulster Bank to qualify for their free banking?

cirrus55

desodon wrote: »

Hi, Ulster Bank are going charging €4 a month fee unless you meet one of 2 waivers.

Waiver 1: Lodge a cleared total of €3,000 per month. Your salary counts as a lodgement

Waiver 2: Maintain a minimum cleared balance of €3,000.

In relation to Waiver 1, Say I get paid €2000. Can I just transfer 1000 to my AIB account. Then a couple of days later, transfer the same €1000 back to my Ulster Bank account. Does that count as €3000 of lodgements?

Yes you would get free banking. As long as you have lodgments totalling 3000 you qualify. You can withdraw as much as you want. And unlike Bank of Ireland, you do not need to have the 3000 lodged for the whole quarter. I also have a Permanet TSB account. So ill be tranferring money between the two to get two free bank accounts.

alaimacerc

I had the same thought about the Ulster Ts&Cs, when I looked. On the face of it, you could churn the same €100 every day of the month, and get a waiver for it.

I just got stung for AIB fees because my balance went below the minimum, and I was still jumping through the old set of hoops to get "fees refunded". Ironically, some of those transactions will now be ones I'm being charged extra for. When did they tell me about the new fee structure? Right after they'd been incurred -- and since the balance was below the limit at the end of the quarter, on the face of it I'll be getting stung again for the quarter after too. Pretty shoddy, I think.

Not sure if any of the other banks are any better... AIB seem to have pulled more than their fair shares of strokes like this over time, though. I'd be tempted to switch to a bank, not just on the strength of their current fee regime, but if they gave an undertaking to actually send me a letter or an email if they change them. Is that really too much to ask? They were certainly delighted to send me a letter breaking down the not-to-be-refunded fees they said I now owed them.

another question

Does anyone know what date the €4 charge will come out of accounts, will it be the 1st of every month, starting on Monday July 1st, I would like to know in advance when it is due to come out.

Davy

another question wrote: »

Does anyone know what date the €4 charge will come out of accounts, will it be the 1st of every month, starting on Monday July 1st, I would like to know in advance when it is due to come out.

Section 12:
http://www.ulsterbank.com/images/daily_banking/current_accounts/ri_monthly_fees/index.html#/10/


6 Sept 2013
11 Oct 2013
8 Nov 2013
6 Dec 2013
10 Jan 2014
7 Feb 2014

another question

Davy wrote: »

Section 12:
http://www.ulsterbank.com/images/daily_banking/current_accounts/ri_monthly_fees/index.html#/10/


6 Sept 2013
11 Oct 2013
8 Nov 2013
6 Dec 2013
10 Jan 2014
7 Feb 2014

Thanks for that, do you know the dates for July & August by any chance

Chris_5339762

Out of interest, is this Ulster Bank ROI or Ulster Bank NI or both?

BuffyBot

ROI only, as far as I'm aware.

another question

Did anyone have the €4 charge come out of their current account yet?

peteb2

doesn't happen till august

another question

peteb2 wrote: »

doesn't happen till august

How come? I thought it was effective from July 1st?

peteb2

Charges effective from july. but they wont collect till month past. like any other bill.

another question

peteb2 wrote: »

Charges effective from july. but they wont collect till month past. like any other bill.

Thanks

AilsOD

Does the €4 cover all the transactions in the month? As far as I can see AIB charge €4.50 each quarter in "maintenance fees" and yet I still pay for each and every transaction.

JTMan

AilsOD wrote: »

Does the €4 cover all the transactions in the month?

Yes, the 4 EUR covers unlimited EUR transactions.

Better still, go with PTSB, deposit at least 1,500 EUR per month, and pay no fees.

connmel

cirrus55 wrote: »

Yes you would get free banking. As long as you have lodgments totalling 3000 you qualify. You can withdraw as much as you want. And unlike Bank of Ireland, you do not need to have the 3000 lodged for the whole quarter. I also have a Permanet TSB account. So ill be tranferring money between the two to get two free bank accounts.

Anyone know if I would get fee waiver if I move money between 2 ulster bank accounts though?

peteb2

yes

another question

Anyone have the €4 charge come out yet? I was told by a member of UB staff that the first dates were Friday 9th August and Friday 9th September. Mine hasn't come out.

Taylor365

Sorry to resurrect this but i didn't want to needlessly create a new thread.

If i create a direct debit to take 3000 from my CU to my current acc in ulsterbank once a month, and back again a week later, would that count as a waiver of the €4?

JTMan

Yes.

another question

Taylor365 wrote: »

Sorry to resurrect this but i didn't want to needlessly create a new thread.

If i create a direct debit to take 3000 from my CU to my current acc in ulsterbank once a month, and back again a week later, would that count as a waiver of the €4?

The CU might not be too happy with that though.

nlgbbbblth

Taylor365

You'll need to set up a standing order. You can't set up a direct debit unless you are an approved Direct Debit Originator.