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Ulster Bank introducing transaction charges

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24567…15

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    #32
    Supercell
    Registered Users Posts: 15,342 ✭✭✭✭Supercell


    I have 3k funnily enough too , the rest is in shares and other investments, I just had it there as an emergency fund in an Ulsterbank savings account for the few cents interest it generated each year. From time to time its been handy to have the money available immediately when needed (transfer from one account instantly using the mobile app). Like yourself I've been with them donkeys years.
    The card skimming thing is there but its a risk we will have to take to save hundreds a year in fees. Its a right PITA to switch accounts when the mortgage , electricity, phone etc etc etc is paid by direct debit. My investments had a laborious process of account verification that would have to be redone again, really annoyed by all this.
    As I said I'm now planning on moving them one by one over time elsewhere as I have no doubt this is the first step, next year the 3k may become 4.5.6k or be removed altogether.
    Have Rrevolut, time to start reading up on N26 etc as well
    https://www.loughlinstown.ie

    Have a weather station?, why not join the Ireland Weather Network - http://irelandweather.eu/



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    #33
    van_beano
    Registered Users Posts: 1,345 ✭✭✭van_beano


    It started off originally with them wanting just €3k lodged through the account within the month to avoid fees, then they discovered that the vast majority of people were just moving money between accounts to make up the €3k - like moving €1 x 3000 times between the accounts :rolleyes: That only lasted a few months before they went to the €3k clear balance, there must be a majority now who have this now and they're not making money. So here we are with the new incarnation and you're right, they'll move the goalpost again soon.

    I have a Revolut account and love the App and real-time notifications of it being used, had used it in New York in November. Ulster Bank have a good App aswell but at the end of the day people are going to look for the cheapest, safest place to bank their money. How BOI and AIB have customers at all is beyond me from hearing some peoples quarterly fees. Will be giving N26 a read up aswell.


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    #34
    OU812
    Registered Users Posts: 6,038 ✭✭✭OU812


    I wonder does it apply to people with a ufirst account?


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    #35
    ednwireland
    Registered Users Posts: 14,322 ✭✭✭✭ednwireland


    Been with them 22 years but I'm in the process of getting an n26 account. Wonder how the anytime banking fee will work can't believe that banks charge for logging into a website.

    Are revolut still registered outside the European and not covered by the banking guarantee ?

    My weather

    https://www.ecowitt.net/home/share?authorize=96CT1F



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    #36
    Wheety
    Registered Users Posts: 5,510 ✭✭✭Wheety


    ednwireland wrote: »
    Been with them 22 years but I'm in the process of getting an n26 account. Wonder how the anytime banking fee will work can't believe that banks charge for logging into a website.

    Are revolut still registered outside the European and not covered by the banking guarantee ?

    Who charges for just logging in?


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    #37
    catrionanic
    Registered Users Posts: 2,091 ✭✭✭catrionanic


    Does anyone know if you can get an n26 joint account?


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    #38
    Bob24
    Registered Users Posts: 10,905 ✭✭✭✭Bob24


    catrionanic wrote: »
    Does anyone know if you can get an n26 joint account?

    You can’t.


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    #39
    OU812
    Registered Users Posts: 6,038 ✭✭✭OU812


    They're going to charge 20¢ for a debit card transaction and an additional 1¢ if you use contactless? Am I reading that right?


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    #40
    JTMan
    Registered Users Posts: 5,539 ✭✭✭JTMan


    OU812 wrote: »
    They're going to charge 20¢ for a debit card transaction and an additional 1¢ if you use contactless? Am I reading that right?

    1 cent for contactless
    20 cent for debit cards

    No 'additional' element.


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    #41
    Ten Pin
    Registered Users Posts: 2,816 ✭✭✭Ten Pin


    Link to fees from UB website
    https://digital.ulsterbank.ie/personal/current-accounts/current-account-fees.html


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    #42
    Sono
    Registered Users Posts: 2,388 ✭✭✭Sono


    Banks pushing us away from using them with these ridiculous charges, well I hope they lose thousands of customers and see what they are doing is wrong and realise it’s a mistake.

    Disgraceful charges for customers. Shame on them.


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    #43
    Nigel Fairservice
    Registered Users, Moderators, Regional Abroad Moderators Posts: 2,197 Mod ✭✭✭✭Nigel Fairservice


    I have my current and savings accounts with them. It's annoying that I'll be charged for moving my money from my current account into my savings account, Ulster Bank to Ulster Bank. I don't really want to park 3k in my current account. Twice in recent weeks my app never updated after moving money to my credit card. Both times I made the transaction again (thinking there was a problem after the first time I did it) and my account went into the red over it and I was charged irregular account fees over their IT problems. I'm interested in trying out Starling bank if they set up here in Ireland (hopefully it'll be soon). I can just use my credit union account for lodging cash or cheques and just transfer it electronically after to (Starling, N26 Revolut, whoever). In the meantime I'll use my Revolut to bypass as much of the fee as possible.


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    #44
    LandonRicketts
    Registered Users Posts: 392 ✭✭LandonRicketts


    OU812 wrote: »
    I wonder does it apply to people with a ufirst account?


    From what I can make out from the site ufirst account holders are exempt from the new charges


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    #45
    ednwireland
    Registered Users Posts: 14,322 ✭✭✭✭ednwireland


    Wheety wrote: »
    Who charges for just logging in?

    sorry my bad 20c for credit transfers etc through anytime I suspect that means 20c to move from my Ulster bank current to Ulster bank savings

    My weather

    https://www.ecowitt.net/home/share?authorize=96CT1F



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    #46
    Supercell
    Registered Users Posts: 15,342 ✭✭✭✭Supercell


    Opened a N26 account this morning, so far its been painless. Once I've familiarised myself with its ins and outs will start moving my direct debits over. My goal is to have everything moved over before the year is out or Ulsterbank decide to up the limits which is no doubt what they will do. Its a shame, I've always found the staff in my local branch very helpful and I do like the mobile app a lot, but c'est la vie.
    https://www.loughlinstown.ie

    Have a weather station?, why not join the Ireland Weather Network - http://irelandweather.eu/



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    #47
    Wheety
    Registered Users Posts: 5,510 ✭✭✭Wheety


    ednwireland wrote: »
    sorry my bad 20c for credit transfers etc through anytime I suspect that means 20c to move from my Ulster bank current to Ulster bank savings
    Yeah it's a bit silly. I have a current and a savings account and to be charged 20c for moving from one to the other is ridiculous. Both will be getting closed in a few weeks.

    Still have a credit card with them but will look at alternatives for that too.


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    #48
    Sunrise_Sunset
    Registered Users Posts: 1,211 ✭✭✭Sunrise_Sunset


    LandonRicketts wrote: »
    From what I can make out from the site ufirst account holders are exempt from the new charges

    I have a Ufirst account and pay E10 a month for this. It's a joint account. I also have a personal account, a savings account, and my husband has a personal account. He just recently opened a Revolut account and is very happy with it, and has decided to close his personal Ulster account. After hearing this I think I'll do the same for my current account, and transfer my savings to the Credit Union.


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    #49
    Sunrise_Sunset
    Registered Users Posts: 1,211 ✭✭✭Sunrise_Sunset


    OU812 wrote: »
    I wonder does it apply to people with a ufirst account?

    I'd love to find this out. I already pay 10 euros per month for this account. A quick google search has produced no results on this.

    Any links to the Ulster Bank website regarding this?


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    #50
    Wheety
    Registered Users Posts: 5,510 ✭✭✭Wheety


    The transaction fees are still waived if you maintain a balance of €3,000. still have to pay the €2 monthly fee though.

    Sorry if this is known but seems like some here think transaction fees will apply.


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    #51
    Wheety
    Registered Users Posts: 5,510 ✭✭✭Wheety


    lililanny wrote: »
    I'd love to find this out. I already pay 10 euros per month for this account. A quick google search has produced no results on this.

    Any links to the Ulster Bank website regarding this?
    Check your account type

    Transaction and maintenance fees do not apply on Student, Adapt, ufirst*, ufirstgold*, Foundation and Private Accounts.

    *No longer on sale


    https://digital.ulsterbank.ie/personal/current-accounts/current-account-fees.html


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    #52
    [Deleted User]
    Posts: 0 ✭ [Deleted User]


    When are the fees starting from and are the fees only for current accounts?
    Just checked and my transaction fees would amount to almost €30 a month! Will definitely move my savings. I can use my UB Credit Card for all shopping transactions which make up bulk of my transactions and no transaction fees on that.
    Or maybe move the whole lot to KBC.


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    #53
    Wheety
    Registered Users Posts: 5,510 ✭✭✭Wheety


    Deleted User wrote: »
    When are the fees starting from and are the fees only for current accounts?
    Just checked and my transaction fees would amount to almost €30 a month! Will definitely move my savings. I can use my UB Credit Card for all shopping transactions which make up bulk of my transactions and no transaction fees on that.
    Or maybe move the whole lot to KBC.

    19th April


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    #54
    coffee_cake
    Moderators, Category Moderators, Politics Moderators, Recreation & Hobbies Moderators, Society & Culture Moderators Posts: 81,309 CMod ✭✭✭✭coffee_cake


    the hassle of moving direct debits :mad:
    I saw in the article something about 'for more transparency for customers'. get out of here


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    #55
    Collie D
    Registered Users Posts: 11,317 ✭✭✭✭Collie D


    Just looked at my own transactions over last two months and averages out about €12 a month under the new structure. So 200% increase for me. I’ll probably just use my credit card and pay off when statement comes through. Too lazy to switch current account and I don’t think AIB or BOI are cheaper.


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    #56
    van_beano
    Registered Users Posts: 1,345 ✭✭✭van_beano


    Have just set up an N26 account, will take 5 days for them to verify the documents I've provided. It's the same procedure with Revolut when I set that up.

    Just thinking there, there should be no issue having wages paid into and DD's etc coming out of a Credit Union account I would have thought and they're free banking.


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    #57
    OU812
    Registered Users Posts: 6,038 ✭✭✭OU812


    Collie D wrote: »
    Just looked at my own transactions over last two months and averages out about €12 a month under the new structure. So 200% increase for me. I’ll probably just use my credit card and pay off when statement comes through. Too lazy to switch current account and I don’t think AIB or BOI are cheaper.

    Upgrade to a ufirst account & get 25% back on concert tickets


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    #58
    Wheety
    Registered Users Posts: 5,510 ✭✭✭Wheety


    OU812 wrote: »
    Upgrade to a ufirst account & get 25% back on concert tickets

    They're not currently offering this account.


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    #59
    Sunrise_Sunset
    Registered Users Posts: 1,211 ✭✭✭Sunrise_Sunset


    Wheety wrote: »
    https://digital.ulsterbank.ie/personal/current-accounts/current-account-fees.html

    Apologies, as soon as I replied I saw the link had been posted.

    I like the benefits with the Ufirst account; 25% back on ticketmaster and travel insurance. We pay all of our bills, DD's SO's and food shopping out of that account. Could keep that account and close the current accounts. Savings account appear to be excluded from the fees too, is that right?


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    #60
    OU812
    Registered Users Posts: 6,038 ✭✭✭OU812


    Wheety wrote: »
    They're not currently offering this account.

    Really? Wow, that’s the only reason for keeping it. They just took away mobile phone insurance and I was going to cancel it but I essentially get free banking when the ticket refunds hit


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    #61
    aindriu80
    Registered Users Posts: 1,968 ✭✭✭aindriu80


    Supercell wrote: »
    Opened a N26 account this morning, so far its been painless. Once I've familiarised myself with its ins and outs will start moving my direct debits over....

    You are starting to move your direct debits over to N26? something I was wondering about. I have a few DD's, a standing order, payment from work to get switched over. I've never done it before but take your wages, do you need to contact work or can you do it through N26?


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