Switching from Ulster Bank to...

NotAnotherOrange

I've been with Ulster Bank ever since I moved to Ireland, in fact they gave us one of their more advanced current accounts for free, so I've never had to pay any fees for personal banking.

With them leaving the market I'm looking to switch soon so that I'm ahead of the inevitable rush when everyone realises they have to do it.

I don't really do anything special - use the app a lot to transfer funds around and to pay other people, the finger print access is handy as is Google Pay of course.

Is there any particular bank I should be looking at switching to? Looks like mortgages will automatically switch to TSB, but AIB seems a bit more switched on app wise.

Any recommendations?

crinkley

AIB seems to have the best app and for me thats the most important aspect for choosing a bank in 2022, thats who my parents are switching with but they'll also get the free banking, damn pensioners!

TSB have a decent account where you can get most of the fees back via contactless payments so you may only pay 2 or 3 euro a month but their app doesn't seem as good as AIB.

BOI app is woeful as is CU and an post

black & white

I'm in the same boat re UB, have been a customer since 1980. Dear Leader has done the research and says AIB is probably the best bet all round.

RedXIV

Considering the same but I'm looking at getting a mortgage soon too so trying to see if I can get some benefits out of that also. Does anyone know if you can have a single credit card account with 2 credit cards with AIB or PTSB?

Hibernicis

Ulster Bank's app is well out in front. AIB is a poor second. BOI is a very weak third. PTSB, CU aren't of this millennium.....

Depending on your transactions volumes and patterns etc AIB will cost you in the region of €100pa, possibly more. But it's the best of a pretty bad lot.

corsav6

Same boat lads, with Ulster Bank for years and find them excellent, especially their app. I was with BOI and they were dreadful at the best of times. Looking like AIB for us.

Atlantic Dawn

Does anyone know if you can just click a box and everything moves to another bank including the provision of credit/debit cards the same as you have with Ulster Bank without the need to start filling in 900 pages of applications to see if they will accept you for a credit card etc etc. Don't really care who it's with, branch network unimportant once they have a branch in Dublin City Centre.

RedXIV

https://www.boards.ie/discussion/comment/118456294#Comment_118456294

Can't confirm this fully but PTSB had something up about a "switcher" team that sounds like its intended to be painless but I imagine it's more than a checkbox :)

crinkley

Yeah I’d imagine switching direct debits, standing orders and getting your wages paid in is what the switcher team would be for. Credit cards would require a credit check etc so probably a whole new application I would imagine

Atlantic Dawn

https://www.boards.ie/discussion/comment/118456322#Comment_118456322

Yes hoping for one of the banks to come aboard for quick switching, Checkbox might be asking for too much 😁

Snake Plisken

Is there much involved with switching to AIB with regards direct debits coming out of my Ulster Bank current account?

NotAnotherOrange

https://www.boards.ie/discussion/comment/118456239#Comment_118456239

When you're not used to paying any fees, 100 euro suddenly sounds like a lot!

Also a shame to hear that Ulster Bank is the best app when they're the ones that are going.

PTSB is where our mortgage is going but obviously we'll have the option of shopping around for that if we wish. I will take a look into AIB then.

It seems like they might be the best option, unless I want to stick to where my mortgage is going.

Also need to set up a business current account soon so hopefully AIB is best for that and I can get it all done at once.

Citrus_8

I booked with PTSB to open a CA with them and both times they booked me wrong. First time booked for 26th Dec, then for 30th Dec. When I went to the branch, they said a person I have an appointment with is off today and nobody has notified me. I asked if I was rebooked automatically and they said No! Booked again, got home to check options with AIB. Tried to open an account via AIB app but didn't let as I already had an account with them long before. Called their customer care and they said I have to book an appointment on the website but the agent was struggling to tell me what page exactly I should go to. Finally found and booked but figured out that DD or standing order setup costs 4.50 Euro per one. I have a few! If I want to amend standing order for my saving account, each amendment is 2.50 Euro!

Incompetent PTSB is who I will stick with, even though they drive me crazy. But a fixed monthly free and also the option to get 10c back for each bank card transaction is what would help to reduce my banking fees.

I would go with EBS but they don't have an app and if you want to setup or amend DD, you literally have to go to their website, print off the request, sign and post them.

BoI is a no no for me due to old-school system and very slow transfers.

Looks that Irish retail banking is currently don't have much to offer the customers, sadly.

NotAnotherOrange

https://www.boards.ie/discussion/comment/118456611#Comment_118456611

So PTSB is fixed fee but I can do as many transactions as I want?

What's the issues with the app versus others?

As long as I can move money between my accounts and joint accounts and make payments that should be enough (and Google pay).

Citrus_8

https://www.boards.ie/discussion/comment/118456717#Comment_118456717

BoI and PTSB fixed fee and free Euro transactions as many as you want within Eurozone. AIB quarterly fee plus each transaction 20c, plus DD etc fees. EBS free but no app, no Google pay and lots of paper.

NotAnotherOrange

https://www.boards.ie/discussion/comment/118456863#Comment_118456863

Thanks!

Is there somewhere to see the differences in apps?

I know people keep saying the AIB app is best but not sure what it has over the others.

Confused11811

https://www.boards.ie/discussion/comment/118456863#Comment_118456863

Coming in on this conversation too. Regarding EBS , I'm actually not to bothered about an app as long as the online website is functional enough to use.

However what is the online purchases experience like ? I assume it'll work fine with Paypal ? Is card manager app slow and laggy ? I tend to buy alot of high value demand items which are limited in stock. When the become available sell out in minutes so a quick SCA payment app is a bit of a must for me.

I'm considering a mix of EBS and Revoult or N26 going forward.

Citrus_8

https://www.boards.ie/discussion/comment/118457108#Comment_118457108

EBS and Revolut/N26 sounds one of the best options. I would however take N26 due to Revolut not being a bank in Ireland. Don't know what are you referring to re card manager app as EBS doesn't have an app. SCA (one form or another) is mandatory in all the EU despite of the bank.

Citrus_8

https://www.boards.ie/discussion/comment/118456945#Comment_118456945

I would also like to know the difference without a need of opening an actual account. But couldn't find any useful review/comparison.

thebourke

what about using revolut or n26?

Citrus_8

https://www.boards.ie/discussion/comment/118457706#Comment_118457706

I'll risk being named but I can't trust putting my savings and getting a wage into one of these. I still want to know the actual physical present of the bank in the state I'm using its services. I use Revolut from time to time for Sterling purchases, though. Also, some providers don't accept non-Irish IBAN for DD's and I just don't want a hassle fighting this.

The cheapest probably is to get wages and major DDs to/from EBS, drop some money into Revolut/N26 and use it for daily transactions.

StevenToast

Im transferring to BOI....i just want a bank that will exist in 30 years...and theyre the only one I would trust to be around....their app is not a patch on Ulster bank but it works and is functional.....

Im not choosing a bank because of an app....im still f*cking sickened that Ulster Bank are gone.....been with them for 30+ years...

Such a ballache moving.....

Hibernicis

https://www.boards.ie/discussion/comment/118456945#Comment_118456945

See here https://www.askaboutmoney.com/threads/rating-the-personal-online-banking-for-current-accounts-from-aib-boi-ptsb-and-ebs.225418/

Confused11811

https://www.boards.ie/discussion/comment/118457629#Comment_118457629

I was referring to this app - https://www.ebs.ie/ebs-faq/shopping-online/shopping-online--ebs-cardmanager-app

I currently use Revoult for some online transactions. I actually find it's SCA functionality to be quicker than Ulster Banks. I'll probably go with EBS and maintain my Revoult account, topping it up for online transactions and for Google pay. Seems like a decent low risk/low fee option.

Hibernicis

https://www.boards.ie/discussion/comment/118456350#Comment_118456350

AIB have a switcher pack, see here: https://aib.ie/content/dam/aib/personal/docs/our-products/current-accounts/switching-your-personal-current-account/personal-current-account-switching-pack.pdf

The alternative is to open a new current account with your new bank and replicate your standing orders and manually advise your new account details to any services/suppliers that you have a DD arrangement with. Then cancel the old ones and close the old account..

I chose the latter, as it allowed me to reorganise and rearrange a lot of the DDs, e.g. change dates etc. There were also a few that I moved to from my current account to my credit card. It also avoids an issue where some services (e.g. Netflix) dont usually move if you use the switcher pack. It took an a few hours on a wet Sunday afternoon to do this. I then monitored the new arrangements for a few weeks to make sure everything was working before closing the old accounts

Note that this only covers current accounts. Deposit accounts and credit cards are separate.

Hibernicis

https://www.boards.ie/discussion/comment/118457629#Comment_118457629

I guess there are two schools of thought. For those with pretty straightforward requirements and a desire to avoid bank charges at all costs, the N26/EBS option probably looks attractive. For me, having my current, deposit and credit card accounts with one entity, accessible via one app/portal with instant transfers between the accounts is highly desirable. The ability to visit a bricks and mortar bank to deal with any issues etc was an added bonus. And the ongoing issues that N26 are having with BaFin was probably the nail in the coffin for that option.

We appear to have a major hang-up with bank charges in this country. Free banking was something of an illusion that was introduced as an inducement, with the intention of recouping the charges by upselling. As a business model it failed spectacularly. In very simple terms, you get what you pay for. For me, and it’s a personal decision, the availability of a good(ish) quality app, one stop provider and single interface and instant transfer between accounts is worth the cost. Others will have a different perspective and are fully entitled to.

Citrus_8

I don't trust account switching facilities. It failed to switch my Virgin Media DD and I have got caught in a few days as the due date was close. Bank and Virgin Media charged me missed DD fee. This time I will simply open a new account and do everything myself. Netflix and some other providers are not on DD but rather recurrent bank card payment so it's dealt differently. When a bank card lost or replaced with a new expiry date, we also need to update with Netflix in this case.

Davexirl

I opened an EBS account and use it for my salary and direct debits, I use Revolut for my day to day spending. The EBS online banking is basic but it does the job.

rameire

https://www.boards.ie/discussion/comment/118456611#Comment_118456611

You say the DD setup there is a fee of 4.50 for each account. Does this include if you do all the online details yourself?

I know there is a charge every time a DD comes out at 20c per DD. I cannot see that fee for DD.

For standing orders it says there is a €4.50 for a Manual setup and zero fee for Kiosk and internet setup.

https://aib.ie/content/dam/aib/personal/docs/fees-and-charges/account-fees-and-service-charges.pdf

Citrus_8

https://www.boards.ie/discussion/comment/118472583#Comment_118472583

Thanks so much and you're completely right! I must have looked it wrong and missed the key word manual in this case. Either way, for me Permanent TSB appeared to be slightly cheaper to have an account with.

Fishy1

Am also having to look at alternatives to Ulster Bank / KBC. I came across this article a while ago & have bookmarked it for future reference. I keep hoping that a new banking alternative will decide to launch on the Irish market. Highly unlikely though!

https://www.rte.ie/news/business/2021/1126/1263338-is-it-time-for-ulster-and-kbc-bank-customers-to-switch/

firemansam4

I was in PTSB earlier to enquire about switching to them.

The lady their advised me that accounts from Ulster bank that havent yet switched closer to when Ulsterbank exit the market will be automatically switched over to PTSB anyway. She was also telling me that they will even be sending some employees to Ulsterbank branches closer to the time to help with this process.

I was surprised to hear this as I havent heard anything about that before, has anyone else been told or heard anything about this?

Citrus_8

https://www.boards.ie/discussion/comment/118496014#Comment_118496014

Maybe it's only for those with mortgages?

firemansam4

https://www.boards.ie/discussion/comment/118496688#Comment_118496688

I never mentioned anything about a mortgage to her. She did tell me she only found out about it herself today.

rameire

https://www.boards.ie/discussion/comment/118496014#Comment_118496014

PTSB and UB don't have an agreement for personal current or saving accounts.

Sounds like Chinese whispers.

rameire

Personal customers will be given 6 months notice to close accounts.

If you don't close it, UB will and they will send you a cheque.

The Buster

ANother UB customer looking for options. Joined when I got a Henry Hippo money box and school pack in the early 80's and been a customer ever since! Love the App and disappointed to see none of others are a patch on it.

Main banking use is get my salary paid in, a few bill by standing order and a transfer to Revelot about once a month, which I then use for day to day spending. Maybe one cash withdrawal ever 3 or 4 months. Also would probably have a bank transfer to a friend or buying something every month or so and the App was handy for that but Revelot is taking over a lot of my use for this

Probably going to wait as long as I can without switching and hopefully an easy option appears! I am not really that fussy who i end up with - if one of them developed a good app then I probably would choose them. Whoever it is will earn a lot more from me in bank charges then UB ever did!!

firemansam4

https://www.boards.ie/discussion/comment/118497333#Comment_118497333

https://www.boards.ie/discussion/comment/118497355#Comment_118497355

Yea it didnt sound right to me, seems like the lady was bare faced lying to me today. Putting me off PTSB straight away if thats the case.

Hibernicis

https://www.boards.ie/discussion/comment/118496014#Comment_118496014

Is yours by any chance a small business account ? If so then it may be transferred to PTSB, as PTSB are acquiring some of Ulster Bank's small business accounts. They are not acquiring Ulster Banks retail business (i.e. personal account holders). The following is an overall summary of what is happening:

Ulster bank have said repeatedly: Beginning in early 2022, on a rolling basis, we will start to give current and deposit account customers formal letters of notice of up to six months, to choose a new bank; move to that bank; and close their Ulster Bank accounts. If no action is taken, customer accounts will be closed with a cheque issued for any remaining balance.

AIB is acquiring €4.2 billion of performing Ulster Bank corporate and commercial loans (Large commercial business)

PTSB is acquiring (1) The performing non-tracker residential mortgage book of Ulster Bank (approximately €7.0 billion) (2) The performing micro-SME (“Business Direct”) loan book of Ulster Bank (approximately €230 million) and (3) The entire Lombard Asset Finance loan business of the Ulster Bank (approximately €400 million)

PTSB is also acquiring 25 branches from Ulster Bank’s branch network and taking some staff. (Note that PTSB is acquiring the branch buildings and the some related staff, not the accounts – the accounts will need to be transferred by the account holder or they will be closed by Ulster Bank and a cheque issued for the balance).

No final announcement has been made in relation to either performing tracker mortgages (AIB has been mentioned as a possible destination)  or non performing mortgages. 

Note that PTSB's website states: Your Ulster Bank Current Account will not transfer automatically to Permanent TSB as current accounts are not included in the transaction agreement. 

Most of the above is subject to approval by the CCPC (The Competition and Consumer Protection Commission)

fritzelly

Friend is/was with UB - he has moved to EBS and just about got all the direct debits etc switched over. also has N26 (pretty much since they opened to Ireland)

Simple standing order to N26 with money for living and sorted - free banking. 10 euro for the debit card

The N26 app is way beyond anything the Irish banks offer

We've both been using N26 for years now and couldn't be happier - you could go just N26 but the only caveats being no physical presence (which most banks seem to want in Ireland anyway) and some of the backward payment systems in Ireland that will only (illegaly) accept Irish bank account numbers so need to check that before switching wages over etc.

firemansam4

https://www.boards.ie/discussion/comment/118498001#Comment_118498001

Thanks...

No it is just a personal account.

To be honest I think they have been busy with customers looking to switch, and maybe they are trying to put them off from trying to do it in branch.

She did try and ask me to download the app first and do it that way (I have a Huawei phone and cant get the app)

Then she started spinning me the story about accounts being transferred to PTSB anyway.

I see EBS are now examining their products with a view to concentrate on their mortgage business only.

phater phagan

I switched from Ulster Bank to AIB a couple of months ago, without too much hassle.

Be aware, that AIB won't automatically supply a credit card, and you will have to wait six months to get one.

I kept my UB credit card and supplied the credit card department with my AIB IBAN details. However, they have not taken any direct debits from it and I am now getting default letters from UB credit card. I have called their number five times and have been assured that they would rectify the problem, but am still getting the late payment letters.

Has anyone else had this problem? I am worried that the very small amount on my credit card is going to affect my credit history which was AI before this debacle.

Hibernicis

https://www.boards.ie/discussion/comment/118524745#Comment_118524745

The statement “You will have to wait six months to get one” is incorrect. I made an appointment in late November with an AIB branch to open a current account, deposit account and a credit card. The current account and deposit account were opened on the day I visited the branch. The bank assistant said that my Credit Card application would be handled over the phone and arranged an appointment for me for the following day. I received a call from AIB’s Credit Card department and went through a lengthy application process over the phone. The application was successful and I had my AIB credit card two weeks later.

Not surprised that UB failed to update your DD arrangements. Based on my experience with them over the last few weeks while closing my accounts, they are rapidly descending into chaos. It appears that they are totally overwhelmed and are running around like headless chickens. And I say that as someone who has banked with them for decades and always believed them to be head and shoulders above AIB, BOI etc when it came to customer service, reliability etc.

NewbridgeIR

https://www.boards.ie/discussion/comment/118524745#Comment_118524745

Surely a new direct debit mandate would be required given that the debiting account has changed?

Also - it is not mandatory to pay your UB credit card bill by direct debit. You can pay manually via tear-off portion of bill OR via internet banking (minimum payment, full balance or other amount). If there's an issue with the new direct debit, you need to take responsibility yourself and at least pay the minimum amount due.

I opened a current account with AIB last week in local branch. Account opened seamlessly & quickly. Professional & friendly service. Was able to open a savings account myself via their app the following day. Will do all the switching of direct debits, standing orders and recurring payments myself over the next couple of months.

phater phagan

https://www.boards.ie/discussion/comment/118532770#Comment_118532770

I finally got a competent member of UB and she has rectified the problem.

I don't get a bill, and direct debit was the best option for me.

mojesius

I switched from UB to PTSB as we have our mortgage with them so I get 2% back p/m with their Explore account.

I went into a branch to do the switch, very happy with the customer service in branch and the switching process.

But I have to say I'll really miss UB. Their app and online banking is light years ahead, and the customer service phone lines are answered within a few rings usually. PTSB, I've found myself waiting 10 minutes+ sometimes. With UB, I had the UFirst account, which had some good benefits like 25% back off ticketmaster booking (less beneficial in recent years I suppose for obvious reasons, but was good when I was going to multiple concerts every year).

Confused11811

I was going to go EBS route but the recent rumors about them put me off. In the end I've decided to go with BOI , I prefer their Infront fees instead of AIB's. I started the online process of opening the account on Wednesday evening and received my new account number yesterday, so less than 2 days to get the account open. I hope to have the card and pin early next week.

I only have a few debit debits with ESB for power and gas , virgin broadband. All of which I can switch myself online. I'll switch my wages there too soon enough.

I'll keep the UB for certain other payments I receive and probably switch them to my Revoult account when the UB service shuts down. It'll be interesting to see how getting an Irish banking license will broaden the service they can offer.

Like others I'll miss UB too, I always found thier customer service good. I got 3 mortgages and 2 car loans through them. They where always the most competitive option for me. I like thier app but that's not a huge issues for me. Just sad to see another established facility leave Ireland and Irish customer with less choice. I'm lucky to have an AIB and BOI branch near me , having a physical bank to go to is important to me but I'm getting the feeling there will be less and less of these as the push for online banking continues.

amargar

Jumping on this thread, I use Revolut for day to day banking but I need an Irish bank to pay the bills and to keep the emergency fund on. Only for that, what's the best recommendation?

crinkley

I'm going with EBS as I simply need somewhere to have my wages paid into and 3 direct debits, revolut for everything else. If they change to purely mortgage only I'll switch again but I'm not paying monthly fees for the rare off chance I may have to visit a building, haven't set foot in a bank in over 5 years, and that was only because someone gave me a cheque, which UB in NI will now let you do with their app anyway.

Citrus_8

https://www.boards.ie/discussion/comment/118580373#Comment_118580373

How will you manage not paying fees if changing from EBS? There won't be an option not to pay if you'll need to use an Irish bank.

BOI 6 Euro a month, most things then free.

PTSB 6 Euro a month, most things then free and 10c go back for each online or POS transaction.

AIB 4.50 Euro per quarter plus 20c POS chip & pin, contactless free, 20c online transactions, online purchases, DD's, SO's, 35c ATM.

I have moved to PTSB recently from KBC and are shocked how old school they are. Now in the process of changing to AIB and I will run away from PTSB.