Ulster Bank doesn't want our money

jdod23

I would like to describe our experience dealing with Ulster Bank Ireland. I hope this will be a warning to others who think about dealing with this bank.

1) Savings account
A couple of months ago my wife and I decided to open joint savings account. The only bank (out of big 4) which accepted applications online was Ulster Bank. We submitted our application, over a week later we got a letter from bank requesting certified copy of passports and proof of address. As we are both working during a week and have no chance of going to bank during a week we went to O'Connell St branch on Saturday. My proof of address, letter from Department of Social Protection, was not accepted. Few days later I took half day off and went to our branch with all documents, this time with Tax Certificate as proof of address. No problems. They accepted the application just over a week later our account was set up.
Problems began when my wife wanted to register for online banking. Process was straightforward and we expected to receive activation code by text within next few days. Some days later my wife got a text that her phone number has been updated per her request (which we don't know anything about). Activation code has not been delivered so within next 4 weeks we attempted to register few more times. In the meantime we contacted the bank by phone trying to update or at least verify that phone number is correct. We were told that this cannot be done by phone and we need to go to the branch. Again, we are not able to go to the bank during a week so went to O'Connell St branch on Saturday, they were not able to update our personal details. Instead they registered my wife for online banking (something we had done few times already) and told that activation code will be sent by text (to a possibly wrong number). We called bank again asking to update phone number for my wife, instead she was told that activation code will be send by mail.

2) Current account
About a week after our saving account was set up we decided to switch our current accounts to Ulster Bank (we are both AIB customers).
From online banking application I submitted an application for joint current account. A week later we received letter requesting copy of passport and proof of address (exactly the same documents they received from us 2 weeks earlier when we applied from savings account). Went to our branch to let them take a copy of our passports and documents again. They argued that my wife needs to come to the branch personally and they can't accept her documents. I explained that we already have account with their bank, that they already verified our identity (at least partially, they never questioned that I submitted my wife’s documents on her behalf the first time) and it makes no sense to ask for documents every time. They accepted our application in the end.
2 weeks later I got a call from the bank, apparently my wife is not resident in Ireland (she is not EU Citizen) and cannot apply for account. When I told them that my wife has been a resident here for over a year they told me to submit a new application and make sure I put her Irish address (which I'm pretty sure I did the first time I applied). Anyway, didn't want to argue, I submitted 2nd application. Received no reply for 2 weeks, called the bank. I was told exactly the same thing, my wife's address is not an Irish address and they want me to submit application again or wait on the line to talk to agent who can take missing / incorrect details. All their agents were busy, of course, and even though they assured someone will contact me the same business day that never happened. I submitted my 3rd application the same evening making sure that my wife's current address is in Ireland. Today, a week later I finally got letter from Ulster Bank, they accepted our application but guess what - they need a copy of passport and proof of address again, something we have already submitted twice.

So right now, 2 months of dealing with Ulster Bank, we have saving account - only partially satisfied with it as my wife is still unable to bank online. Their online banking system is also pretty poor compared to AIB. Another thing I don't like is number of text messages send by bank and the fact that they send activation code by text (or not at all). 1000 Euro monthly limit on saving account is also bit of a joke. As a couple trying to save up for mortgage we can easily save over 2000 a month. Right now we need to have multiple bank or credit union accounts to keep our money in.
We are also in the middle of opening current account, pretty sure I will not waste my time anymore to show my passport and proof of address for the 3rd time, especially if it requires that I actually go to the branch, again.
We are very dissatisfied with Irish banking system, compared to banks from Eastern Europe (where we are originally from) I would call Irish banking system archaic. It's disgraceful that we have to beg a bank to open a bank account for us and it's completely unfair that they keep ignoring us as their potential customers. Apparently 5000 Euro of our combined monthly income is not good enough for Ulster Bank. Happy to put our money elsewhere or stay with AIB which are a pleasure to deal with compared to Ulster Bank.

If anyone plans to bank with Ulster Bank please think twice or avoid at all cost if possible.

ytpe2r5bxkn0c1

I had quite the opposite experience with Ulster Bank. Applied for an account on line, got contract in post looking for prsi proof etc. I sent the proof by post and account was set up no problem. A joint account.
Subsequently, opened a deposit account and yes they needed proof again (same with other banks according to friends), sent it back with forms by post and account set up no problem.
I suppose, as in all kinds of business, some people find hassle and others efficiency.

Cabaal

Actually RaboDirect accept applications on-line, these also give better interest rates then Ulster (atleast they did lasttime I checked),

i have both and UB current and savings account and never had the problems you've experienced,

Both UB and Rabodirect will look for different proofs of ID etc...but then all banks are legally required to do this in Ireland under anti-money laundering legislation (perhaps something that isn't as strict in Eastern Europe?)

jdod23

Thanks for your comments.
I don't mind going to the bank to show proof of ID or address but what I can't understand is why they keep asking me for the same thing on multiple occasions. Surely they have copies of all documents I submitted few weeks ago (for the same request) then why ask for it again. With most banks closed on Saturdays they don't make it easy to open an account. When I discussed my problem with Ulster bank helpdesk they asked me to submit application online and assured me that no copies of documents will be required as they already have them.
Obviously they have a big mess in their information system and as a result of that I have to either waste another half day off or walk away hoping to find better offer.
If they require proof of passport / address every time application is submitted, for security or anti money laundering purposes, then they should really insist on my wife coming personally to the branch with her passport so that they can verify her identity.

I will check Rabo Direct offerings, thanks.

Cabaal

jdod23 wrote: »

I will check Rabo Direct offerings, thanks.

Keep in mind Rabo is online only,
If you want to do banking you must use their online banking, they have no branches. So at the very least you'll need a current account to transfer the money to Rabo.

In my case I simple posted them photocopies of all required documents to them and they posted them back once the account was open.

ytpe2r5bxkn0c1

I think the points you are missing is that the proofs can be sent by post to UB and that new proofs are required under law for each new account.

ytpe2r5bxkn0c1

It may be worth pointing out that other banks and other deposit accounts exist with varying deposit rates and terms. The rates will vary depending on the type and term of account you are looking for.

jdod23

Amalia Uneven Sometimes wrote: »

I think the points you are missing is that the proofs can be sent by post to UB and that new proofs are required under law for each new account.

I know that proofs can be sent by post, however these need to be certified by: solicitor, accountant or notary public. This cost money, not a lot but still. The problem is that I have already handed over copies of ID to the bank as part of the application for current account. It was at later stage that they discovered that my wife's current address in the application is not in Ireland and I was asked to correct it by resubmitting my application. No additional documents should be required in this case and this is exactly what I was told by the bank employee.

The main problem is that this whole process is taking too long. I would imagine that opening an account is a simple thing to do, I would imagine that account owner can just ring a bank and update phone number so that activation code for online banking is sent to the right person. As account owner I have a right to demand quality service cause at the end of the day this is what I pay for.

LaughOrDie

Needing your ID for every new account is a European banking regulation. Part of Anti Money Laundering Legislation.

You should be glad they're so vigilant ensuring it's you before they open an account in your name.

And there is no legal requirement for the documents to be notarized or anything like that. A simple photograph or scan will do.

Should take the guts of 10 minutes max.

It's a bit of a pain when you didn't expect it, but it's just one of those things that has to be done.

ytpe2r5bxkn0c1

Who told you proofs needed to be noterised? This is completely untrue.

jdod23

LaughOrDie wrote: »

Needing your ID for every new account is a European banking regulation. Part of Anti Money Laundering Legislation.

You should be glad they're so vigilant ensuring it's you before they open an account in your name.

And there is no legal requirement for the documents to be notarized or anything like that. A simple photograph or scan will do.

Should take the guts of 10 minutes max.

It's a bit of a pain when you didn't expect it, but it's just one of those things that has to be done.

Not sure about legal requirements but letter from bank states clearly:
Documents must be certified by a member of Ulster Bank staff, a solicitor, accountant or notary public.
The documentation must be photocopied and certified as a true copy using the wording "original sighted" and be signed, dated and branded.
All certifications must include the name and position of the certifier, the Firm/Institution they represent and details of their regulated body membership.

I'm happy they "care" about security. I would be even more happy if they explained who/when/how requested my wife's phone number to be updated (per our request allegedly). I'm yet to figure out how to change it back cause online helpdesk told us to go to our branch, with proof of ID, as they can't deal with it online. In the branch on O'Connell St, not our branch but the only branch open on Saturdays, they send us back where we started - to customer helpdesk. Joke of a service !

wmpdd3

it was the same for ptsb. my id had to be photocopied and by a garda . i posted them to them. tho other option was to call to a branch.

LaughOrDie

I see. yeah I'd be pissed off in your position too.

thanks for the heads up

dudara

Moved to Banking & Insurance & Pensions

dudara

jdod23

Cabaal wrote: »

Actually RaboDirect accept applications on-line, these also give better interest rates then Ulster (atleast they did lasttime I checked),

i have both and UB current and savings account and never had the problems you've experienced,

Both UB and Rabodirect will look for different proofs of ID etc...but then all banks are legally required to do this in Ireland under anti-money laundering legislation (perhaps something that isn't as strict in Eastern Europe?)

Thanks for recommending me Rabo Direct. Very pleasant experience dealing with them so far.
Sent them our applicaton and documents by post, photocopies verified and stamped by Garda. The account was set up within 2 days. Few days later we received digipass to access online account. Ovarall process of opening account was extremely quick and simple. No questions asked, access works as it should, no need to go to the branch to show ID, no need to submit the same application 3 times. Ulster Bank is nowhere near with their offerings and the way they treat customers.
Sending my letter to close Ulster Bank account tomorrow.

Thank you again.