Natwest considering closing Ulster Bank in the ROI

Paul_Mc1988

https://www.boards.ie/discussion/comment/118090564#Comment_118090564

Is your mortgage with ulster Bank?.

I do it through there online portal which states

"Please provide your Ulster Bank BIC and IBAN from which the overpayment will be taken. Please ensure you have money available in the account below, to allow us to take the payment you have requested above. The money will be taken from your account and can take up to 5 working days to show on your mortgage account.

Once the payment has been taken your monthly mortgage payment will be recalculated."

I do lump sum payments every two months of a couple of thousand so this will piss me off if I lose the option. Hoping to pay it off in 7-8 years instead of 30.

cruizer101

https://www.boards.ie/discussion/comment/118091067#Comment_118091067

Yeah mortgage with Ulster Bank, have current a/c with them also out of which direct debit goes. But then I have my own BOI a/c in which I have a payee setup with an IBAN I got from UB and the reference is my mortgage a/c no., the IBAN is the same for all customers. I then can make payments from there to my mortgage a/c.

Try ring them and ask for mortgage advice centre (they may be closed at weekend) and ask them about making payments from other accounts.

I do kind of recall the first time I asked the person didn't think it was possible but when I asked a different time I got the details.

Fair play on making overpayments than big, thats one thing I like about UB that you can make quite significant overpayments without issue, I just wish I had the money to be able to do it.

Paul_Mc1988

https://www.boards.ie/discussion/comment/118091578#Comment_118091578

Thanks for the info. I'll ring on Monday. Yeah they let you overpay by 10% per year of your outstanding balance. Hoping to do 36k overpayment per year just to box it off.

Two of us have good jobs so might as well bust it out. One of us can retire then :)

FFVII

https://www.boards.ie/discussion/comment/118089738#Comment_118089738

Is their anywhere that does a comparison of them? Want to get this out of the way. Pain in the hoop. As above, they have a really good app and approval system. Security set up is good aswell. Though this should be all basic stuff but I expect not.

jj880

Is a credit union current account worth looking at?

https://www.boards.ie/discussion/comment/118090447#Comment_118090447

The Ulsterbank app is certainly the best of all the banks in Ireland. I do a lot of International transfers which is really simple. I have been looking around and the next best is AIB. Only issue is AIB current account is most expensive for fees in Ireland. However, using N26 and Revolut for most of the transactions will limit the fees significantly. I wouldn't move to N26 as a main current account as their security and customer care still needs significant improvement.

jj880

Ok so I talked to a credit union employee. They have a deposit account with no fees. It can handle direct debits in and out but it has no ATM card.

This account and my revolut should do me. I can just send cash from the credit union account to the revolut with the credit union app and withdraw cash if I need to.

EDIT: In fact it sounds like I should have done this long ago. It's cheaper than my setup at present.