Ulster bank-feedback needed

j4vier

Hello,

A question for current Ulster bank customers. What are they like to deal with?

I recently wanted to open a 12 months fixed term savings account with them and I've been getting a strong vibe against them from the little dealings I had with them.

First, I went into the Camden st branch. The assistant said that I would have to wait up to 2 months to get an appointment with someone who could open that type of account for me.

Then I went into the College green branch. Booked an appointment within 2 weeks. On the day of the appointment, I found out that it is not possible to open that type of account unless you have another account with them, so had to open that first.

The interest is not even that good considering that I have to keep talking half days to go into the branch for such " appointments"

I wonder what are other people experiences in dealing with them?

Wheety

Interest rates aren't good at the moment and most banks are offering similar products. Does your own bank not have something?

What interest rate are Ulsterbank offering? Do you want to put away a lumpsum or regular savings?

mickoneill31

They're very inefficient. Their product is fine but getting stuff done takes ages.

I had a business account. Forms got lost in the branch and it took months to set up. When I left the company I had to repeatedly apply to get my name removed.

I have a mortgage. Whenever they need to send me any form it can take two weeks to get out to me and usually requires a follow up call.
And transferring my mortgage to them took 3 months with no delays from me.

However as I said, their product is good so once you're set up, you're fine. If you have any issues though, prepare to pull out your hair.

j4vier

Wheety wrote: »

Interest rates aren't good at the moment and most banks are offering similar products. Does your own bank not have something?

What interest rate are Ulsterbank offering? Do you want to put away a lumpsum or regular savings?

I want to put a way a sum for 12 months.

They have the highest interest at the moment at 0.6 over 12 months. I think kbc are just behind at 0.5. I'm with BOI for daily banking but their savings options are even worse

j4vier

mickoneill31 wrote: »

They're very inefficient. Their product is fine but getting stuff done takes ages.

I had a business account. Forms got lost in the branch and it took months to set up. When I left the company I had to repeatedly apply to get my name removed.

I have a mortgage. Whenever they need to send me any form it can take two weeks to get out to me and usually requires a follow up call.
And transferring my mortgage to them took 3 months with no delays from me.

However as I said, their product is good so once you're set up, you're fine. If you have any issues though, prepare to pull out your hair.

If they are inefficient with business accounts, I can only imagine with non-business accounts

Your feedback just reaffirmed my initial worries

Wheety

0.65% here. You have to give 35 days notice though.

https://www.kbc.ie/our-products/savings-and-investments/deposit-accounts/notice-account

You then pay DIRT on that too. Any debts you could clear instead?

Or just open a Credit Union account. Think I got 0.5% and there's no messing about with them. Can deposit/withdraw whenever you want. Could start with a lump sum and add to it each month if you wanted.

With Interest Rates so low and DIRT so high, the rate isn't going to make much of a difference unless you're talking hundreds of thousands.

j4vier

Wheety wrote: »

0.65% here. You have to give 35 days notice though.

https://www.kbc.ie/our-products/savings-and-investments/deposit-accounts/notice-account

You then pay DIRT on that too. Any debts you could clear instead?

Or just open a Credit Union account. Think I got 0.5% and there's no messing about with them. Can deposit/withdraw whenever you want. Could start with a lump sum and add to it each month if you wanted.

With Interest Rates so low and DIRT so high, the rate isn't going to make much of a difference unless you're talking hundreds of thousands.

That seems like a good deal with KBC. No debts to clear. You are right, the rates are so low that really I am looking for the option which is the least hassle.

I'll look into the KBC option as seems promising

TopTec

Been with Ulster 7 years. Couple of non business accounts. They have cut back on up front staffing so it's a pain to get appointments or, heaven forbid, wait at a counter. The Manager seems to spend more time at a local coffee shop than in the bank....

I regularly transfer funds from the UK. It takes minutes to go from Lloyds Bank in the UK to Currency fair and then to Ulster Bank but takes 3 days to appear in my account. The response when I questioned this was to blame everyone else.

I don't have any experience with other banks in Ireland to compare them with though.

TT

drunkmonkey

Started to try and open a few business accounts on the 25th of January, I’m close but still not fully there at the current pace I’d say sometime in June I’ll be fully set up, Has been a painful process as there so slow and useless at getting back to you.
Hopefully when all set up they’ll be easier deal with but at the moment there a joke.
The savings for me are huge if it all goes to plan though only reason I’m still trying to get set up.

j4vier

I got my letter with accounts details for a loyalty saver account just today so took a week from the day of appointment

I looked into the KBC 35 day notice account but seems that you can't control it online which is a big disadvantage

4ensic15

Ulster Bank is beyond a joke at this stage. I would prefer to deal with Indian technical support with pidgin English than try and do anything with Ulster Bank.

SeanElec1

I have mortgage and savings a/c with ulster, and it's absolutley brilliant to stroll into the branch (crescent shopping centre, limerick) on a saturday morning and have staff there, mind you will always be a few in the queue. They went through a thorough downsize and i'd say morale is low, but they get the job done.
The website is good too, with quite a bit of security built in.

Nermal

None of them are going to be great if you're just looking for current account & savings products.

These don't make them any money.

They just want to sell you loans, insurance and fee-ridden investment vehicles.

So just pick the one with the combination of best rates and lowest fees for your situation and put up with it.

4ensic15

SeanElec1 wrote: »

I have mortgage and savings a/c with ulster, and it's absolutley brilliant to stroll into the branch (crescent shopping centre, limerick) on a saturday morning and have staff there, mind you will always be a few in the queue. They went through a thorough downsize and i'd say morale is low, but they get the job done.
The website is good too, with quite a bit of security built in.

Ulster bank branches are like the hobs of hell these days with closed up hatches and a generally gloomy atmosphere.