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Ulster Bank introducing transaction charges

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    #62
    Bob24
    Registered Users Posts: 10,905 ✭✭✭✭Bob24


    aindriu80 wrote: »
    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?

    All you have to do is to give your HR/payroll department the IBAN number for your N26 account and then it’s up to them to update their payroll system with your new bank details.


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    #63
    extra gravy
    Registered Users Posts: 22,529 ✭✭✭✭extra gravy


    I mainly use my Revolut card now for day to day expenses. Would there be a transaction fee every time I top up or am I reading it wrong?


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    #64
    van_beano
    Registered Users Posts: 1,345 ✭✭✭van_beano


    extra gravy wrote: »
    I mainly use my Revolut card now for day to day expenses. Would there be a transaction fee every time I top up or am I reading it wrong?

    Yeah it would be considered a debit card transaction and charged accordingly


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    #65
    Nigel Fairservice
    Registered Users, Moderators, Regional Abroad Moderators Posts: 2,184 Mod ✭✭✭✭Nigel Fairservice


    extra gravy wrote: »
    I mainly use my Revolut card now for day to day expenses. Would there be a transaction fee every time I top up or am I reading it wrong?

    You could try topping up you Revolut with your credit card. If you do it with your debit card it'll be charged the fee every time by Ulster Bank. Clear your credit card at the end of the month with one online transaction for 0.20 cents.


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    #66
    extra gravy
    Registered Users Posts: 22,529 ✭✭✭✭extra gravy


    Nigel Fairservice wrote: »
    You could try topping up you Revolut with your credit card. If you do it with your debit card it'll be charged the fee every time by Ulster Bank. Clear your credit card at the end of the month with one online transaction for 0.20 cents.

    Thanks but I don't have a credit card, cut it up a few years ago! Think I will looking into switching to EBS for main banking and credit union for savings and get away from UB altogether.


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    #67
    van_beano
    Registered Users Posts: 1,345 ✭✭✭van_beano


    Topping up the Revolut card with a Credit Card can be seen by some providers as a cash advance transaction which carries higher interest rates effective immediately


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    #68
    Nigel Fairservice
    Registered Users, Moderators, Regional Abroad Moderators Posts: 2,184 Mod ✭✭✭✭Nigel Fairservice


    van_beano wrote: »
    Topping up the Revolut card with a Credit Card can be seen by some providers as a cash advance transaction which carries higher interest rates effective immediately

    Don't think the Ulster Bank credit card does anyway. I've topped up my Revolut card with my Ulster Bank credit card a few times and didn't pay anything extra for it. I withdrew the money I put on my Revolut card with my Ulster Bank credit card as cash from the ATM once as well. Didn't pay anything extra for it. Just paid the usual 12 cent stamp duty.


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    #69
    TallGlass
    Closed Accounts Posts: 4,935 ✭✭✭TallGlass


    The charges are mental!



    Why are banks so pushy to leave such a large sum sitting in a current account? A scammer would have a field day.


    I'm going to switch fully to Revolut for day to day stuff, where is a good place to move the savings account to or can I keep it with them without a current account? Or will they charge for logging money in the account.


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    #70
    van_beano
    Registered Users Posts: 1,345 ✭✭✭van_beano


    KBC do a regular savers account for 2.1% provided you transfer minimum €100 per month from a current account held with them. Maximum that can be held in the account can be €40k.


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    #71
    TallGlass
    Closed Accounts Posts: 4,935 ✭✭✭TallGlass


    Are CU's good for savings? It's a large enough sum, I would we weary of something going wrong.


    I had no problem paying 4€. They do have infrastructure to look after and staff to pay. This however is taking the micheal pure and simple.


    What's even more bizzare is I have looked at the RBS website and they offer a free account for people not in the UK but in the EU for day to day banking?


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    #72
    ednwireland
    Registered Users Posts: 14,312 ✭✭✭✭ednwireland


    complaints
    https://www.ulsterbank.com/microsites/CompForm/complaints_form.asp

    My weather

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



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    #73
    van_beano
    Registered Users Posts: 1,345 ✭✭✭van_beano


    ednwireland wrote: »
    complaints
    https://www.ulsterbank.com/microsites/CompForm/complaints_form.asp

    Waste of timing complaining. I've made complaints over a number of things over the last few years. They send you a nice 2 sheet letter back pretty much saying that "...they apologise for "fill in the complaint topic" but this is Ulster Bank / RBS policy now and you have to adhere to the terms and conditions you signed when you were 7"


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    #74
    Ten Pin
    Registered Users Posts: 2,816 ✭✭✭Ten Pin


    ...or can I keep it with them without a current account?

    AFAIK there is nothing stopping you keeping the savings account where it is. As the fees began to be introduced by banks over the last few years, moving current account from one bank to another had no affect on the ability to access/transact the savings account online.

    Logically speaking, no bank will refuse money sitting in a savings account that they are earning interest on while paying almost no interest to the account holder.
    What's even more bizzare is I have looked at the RBS website and they offer a free account for people not in the UK but in the EU for day to day banking?
    Similar basic account from banks here
    http://www.citizensinformation.ie/en/money_and_tax/personal_finance/banking/standard_bank_account.html


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    #75
    Farmer
    Registered Users Posts: 750 ✭✭✭Farmer


    TallGlass wrote: »
    The charges are mental!



    Why are banks so pushy to leave such a large sum sitting in a current account? A scammer would have a field day.


    I'm going to switch fully to Revolut for day to day stuff,where is a good place to move the savings account to or can I keep it with them without a current account? Or will they charge for logging money in the account.

    Totally agree but I'd be moving savings somewhere else to punish them. 3k obviously means a bit to them


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    #76
    Nigel Fairservice
    Registered Users, Moderators, Regional Abroad Moderators Posts: 2,184 Mod ✭✭✭✭Nigel Fairservice


    TallGlass wrote: »
    Are CU's good for savings? It's a large enough sum, I would we weary of something going wrong.


    I had no problem paying 4€. They do have infrastructure to look after and staff to pay. This however is taking the micheal pure and simple.


    What's even more bizzare is I have looked at the RBS website and they offer a free account for people not in the UK but in the EU for day to day banking?

    Your savings up to €100,000 will be fine in the credit union under the deposit guarantee scheme. A lot of UK banks don't have transaction charges. Didn't mind paying the €4 either but their new fees are mad. Someone put up a link here comparing the annual cost of X number of transactions and Ulster Bank came out as the most expensive. I think I'm just going to treat my credit card like a debit card for local electronic transactions and top up Revolut with the credit card for making non-Euro transactions and when I need cash. Will pay the credit card off monthly using the app with one transaction.


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    #77
    TallGlass
    Closed Accounts Posts: 4,935 ✭✭✭TallGlass


    ednwireland wrote: »
    complaints
    https://www.ulsterbank.com/microsites/CompForm/complaints_form.asp


    For all it's worth, I let them know what I think about there new transaction fees.


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    #78
    TallGlass
    Closed Accounts Posts: 4,935 ✭✭✭TallGlass


    I'll have a browse around the CU's, better than these greedy banks anyway.


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    #79
    ednwireland
    Registered Users Posts: 14,312 ✭✭✭✭ednwireland


    van_beano wrote: »
    Waste of timing complaining. I've made complaints over a number of things over the last few years. They send you a nice 2 sheet letter back pretty much saying that "...they apologise for "fill in the complaint topic" but this is Ulster Bank / RBS policy now and you have to adhere to the terms and conditions you signed when you were 7"

    last time i complained i got 25 euro !!!

    it was about them shutting the counter services and how they had trained their staff from been friendly to downright rude

    My weather

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



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    #80
    TallGlass
    Closed Accounts Posts: 4,935 ✭✭✭TallGlass


    Where do they pluck the figures from? I don't really get it, to me it just seems like they are doing it cause they can get away with it.


    It's the likes of my mother and father I feel sorry for, they are not as tech savy as myself and would be really weary about switching to an online only bank like Revolut. Instead sticking to the charges and paying them.


    If this is what a cashless society looks like, where the bank can just impose whatever charges they deem fit. If anything, costs for the bank should be decreasing with the online/automated way of banking, not ****ing increasing!


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    #81
    Gooser14
    Registered Users Posts: 1,556 ✭✭✭Gooser14


    TallGlass wrote:
    It's the likes of my mother and father I feel sorry for, they are not as tech savy as myself and would be really weary about switching to an online only bank like Revolut. Instead sticking to the charges and paying them.


    If your parents are aged 66 or over then they won't have to pay the charges provided UB are aware of their DoB.


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    #82
    HBC08
    Registered Users Posts: 3,307 ✭✭✭HBC08


    I have a current , savings and business account with them.
    I went into branch to confirm if I lodge 3k the fees don't apply ( except the quarterly charge which is currently 4€ and going to 2€)
    I think this is my only option at the moment as I have lots of direct debits etc. A quick calculation would have my fees at 20€ a month if I left things as there are.

    Surely they are going to lose a lot of Customers over this?


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    #83
    Cartman78
    Registered Users Posts: 9,622 ✭✭✭Cartman78


    Uggghhh..... really annoyed about this tbh.


    Have been with them for 20+ years and relatively happy I guess but these new charges are charges are nothing short of shafting personal account holders :mad::mad::mad::mad:


    By coincidence I've opened a Revolut account last week (mainly for travel etc.) but looks like it'll be more of a domestic option now as well.


    I haven't done any research at all yet re: other alternatives (KBC seems to be standing out?) -- have a bunch of Direct Debits to change which is a pain in the hoop, but I'll be damned if I'm paying a cent of those new UBank fees :mad::mad::mad::mad::mad:


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    #84
    Sabre0001
    Registered Users Posts: 7,499 ✭✭✭Sabre0001


    KBC looking like a frontrunner to me. Also lets you set up a saver account with one of the better (best?) rates.

    🤪



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    #85
    Wheety
    Registered Users Posts: 5,510 ✭✭✭Wheety


    HBC08 wrote: »
    I have a current , savings and business account with them.
    I went into branch to confirm if I lodge 3k the fees don't apply ( except the quarterly charge which is currently 4€ and going to 2€)
    I think this is my only option at the moment as I have lots of direct debits etc. A quick calculation would have my fees at 20€ a month if I left things as there are.

    Surely they are going to lose a lot of Customers over this?

    The account maintenance fees are monthly, not quarterly.


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    #86
    HBC08
    Registered Users Posts: 3,307 ✭✭✭HBC08


    Wheety wrote: »
    The account maintenance fees are monthly, not quarterly.

    yes sorry got that bit wrong.
    The more I think about this the more I'm resenting it.
    I should have asked more questions when I was in there earlier.
    For example if a dd goes from my current to savings I know I won't pay any fee on it going out but will there be a fee on it being received in savings?


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    #87
    EdgeCase
    Closed Accounts Posts: 2,471 ✭✭✭EdgeCase


    Ultimately, they won't be able to keep charging like this as customers will move day to day banking to online banks. It's not a captive market.


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    #88
    adam88
    Registered Users Posts: 1,599 ✭✭✭adam88


    Anyone know can you have two account under the same online profile with KBC, I’ve two with ub, one current for day to day banking and one dedicated especially to direct debits and standing orders. If I could get the two with KBC I’d defo change.


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    #89
    scamalert
    Registered Users Posts: 3,739 ✭✭✭scamalert


    i was angry at ulsters decision under seen it was for under 3k, i get raped by BOI constantly for that. As dont really care but still its outrageous they have less and less staff in branches lucky if theres a window open, since all they want you to do is automated, plus i can see many being outraged as its a joke 85c for depositing cash in branch or atm withdrawals 20c a pop. Soon they will want all to be digital and its already pain in the hole when one needs to take out larger amounts.


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    #90
    TallGlass
    Closed Accounts Posts: 4,935 ✭✭✭TallGlass


    Anyone else come to the combination from looking around for of an EBS Money Manager account, which looks to be free and comes with a MasterCard along with Revolut for the more sophisticated banking side of things?


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    #91
    Alpha Centauri
    Registered Users Posts: 119 ✭✭Alpha Centauri


    TallGlass wrote: »
    Anyone else come to the combination from looking around for of an EBS Money Manager account, which looks to be free and comes with a MasterCard along with Revolut for the more sophisticated banking side of things?

    Looking at EBS Money Manager too

    Are there any pitfalls to watch out for with EBS? less functionality etc?


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