Ulster Bank Exodus

GerrupOuttaThat · 28-10-2021 2:11pm #1

Hello People of the Internet.

Looking for advice on what bank to move to with Ulster Bank jumping ship. I have savings in Ulster and get paid into my Ulster current account. I don't really use the account other than that. I have an auto top-up on Revolut and use that for my day-to-day banking.

I was thinking of moving to either PTSB or An Post and using it in a similar fashion to how I currently use my Ulster Bank accounts.

Another plan is to switch to N26 and transfer savings each month from my paycheck to an An Post savings account, although that seems a bit convoluted.

Any advise would be great. Doesn't seem to me like there's a lot in it between all the aforementioned options, but maybe I'm wrong.

Thanks in advance xo

Q&A · 28-10-2021 8:15pm

N26 or EBS both offer the basic current account package and are free.

Citrus_8 · 28-10-2021 8:33pm

If you want to have one IE current account under one bank, Credit Union CU (Current account) for 4 Euro per month seems to be the cheapest Irish current account option (if a free EBS alternative without an app and just basics isn't good enough).

If 2 accounts isn't a problem, as above, N26 & EBS seems to be the option.

imokyrok · 05-11-2021 5:39pm

I run 2 current accounts with Ulster Bank. One that my wages are paid into and day to day spending with debit card are conducted. The other is for direct debits. I use the mobile app once a month to transfer money to the direct debit account. This obviously incurs more fees but makes it easier for me to ensure I budget correctly.

I'm not looking forward to the hassle of trying to set up a similar arrangement elsewhere. Could N26 cope with this arrangement I wonder?

The J Stands for Jay · 07-11-2021 11:16am

https://www.boards.ie/discussion/comment/118124049#Comment_118124049

Bunq would suit your needs. It's not free though.

namenotavailablE · 07-11-2021 11:24am

We are in the process of switching both current account (Ulster) and mortgage (EBS) to AIB. The deal we got and which I understand is generally available is that because we are switching our mortgage, we are getting free current account banking (we are banking with AIB for a couple of months now), a €2000 contribution towards the legal costs of switching (these costs will be lower than this amount so we are coming out ahead) and a lower 'green rate' mortgage compared to what we are on with EBS (our mortgage is not yet in place but we are still getting the free banking).

The AIB app is grand for our very simple needs (I don't see any real need to visit a branch) so thus far we are happy with the arrangement. We also have Revolut which is topped up via AIB without hassle.

Collie D · 18-11-2021 10:41am

Credit card missing from online banking for anyone else?

Wheety · 18-11-2021 2:34pm

https://www.boards.ie/discussion/comment/118130685#Comment_118130685

Is that a joint account? Was it all smooth sailing switching over? We're thinking of moving everything to AIB, joint account, mortgage and credit card. We have some savings too but will be looking at getting house refurbishment at some stage.

Saudades · 08-12-2021 10:49am

https://www.boards.ie/discussion/2058215271/ulster-bank-exodus

These articles may help;

https://www.rte.ie/news/business/2021/1202/1264432-ulster-bank-outlines-withdrawal-plan-to-other-providers/

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

The general advice is to switch as soon as possible and "not to leave it until the last minute to avoid possible bottlenecks of account opening activity in the second half of 2022".

Ulster Bank Exodus

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