Switching from Ulster Bank to...

NotAnotherOrange · 11-01-2022 4:25pm #1

I've been with Ulster Bank ever since I moved to Ireland, in fact they gave us one of their more advanced current accounts for free, so I've never had to pay any fees for personal banking.

With them leaving the market I'm looking to switch soon so that I'm ahead of the inevitable rush when everyone realises they have to do it.

I don't really do anything special - use the app a lot to transfer funds around and to pay other people, the finger print access is handy as is Google Pay of course.

Is there any particular bank I should be looking at switching to? Looks like mortgages will automatically switch to TSB, but AIB seems a bit more switched on app wise.

Any recommendations?

crinkley · 11-01-2022 4:32pm

AIB seems to have the best app and for me thats the most important aspect for choosing a bank in 2022, thats who my parents are switching with but they'll also get the free banking, damn pensioners!

TSB have a decent account where you can get most of the fees back via contactless payments so you may only pay 2 or 3 euro a month but their app doesn't seem as good as AIB.

BOI app is woeful as is CU and an post

black & white · 11-01-2022 4:43pm

I'm in the same boat re UB, have been a customer since 1980. Dear Leader has done the research and says AIB is probably the best bet all round.

RedXIV · 11-01-2022 4:45pm

Considering the same but I'm looking at getting a mortgage soon too so trying to see if I can get some benefits out of that also. Does anyone know if you can have a single credit card account with 2 credit cards with AIB or PTSB?

Hibernicis · 11-01-2022 4:49pm

Ulster Bank's app is well out in front. AIB is a poor second. BOI is a very weak third. PTSB, CU aren't of this millennium.....

Depending on your transactions volumes and patterns etc AIB will cost you in the region of €100pa, possibly more. But it's the best of a pretty bad lot.

corsav6 · 11-01-2022 4:53pm

Same boat lads, with Ulster Bank for years and find them excellent, especially their app. I was with BOI and they were dreadful at the best of times. Looking like AIB for us.

Atlantic Dawn · 11-01-2022 4:59pm

Does anyone know if you can just click a box and everything moves to another bank including the provision of credit/debit cards the same as you have with Ulster Bank without the need to start filling in 900 pages of applications to see if they will accept you for a credit card etc etc. Don't really care who it's with, branch network unimportant once they have a branch in Dublin City Centre.

RedXIV · 11-01-2022 5:04pm

https://www.boards.ie/discussion/comment/118456294#Comment_118456294

Can't confirm this fully but PTSB had something up about a "switcher" team that sounds like its intended to be painless but I imagine it's more than a checkbox :)

crinkley · 11-01-2022 5:06pm

Yeah I’d imagine switching direct debits, standing orders and getting your wages paid in is what the switcher team would be for. Credit cards would require a credit check etc so probably a whole new application I would imagine

Atlantic Dawn · 11-01-2022 5:07pm

https://www.boards.ie/discussion/comment/118456322#Comment_118456322

Yes hoping for one of the banks to come aboard for quick switching, Checkbox might be asking for too much 😁

Snake Plisken · 11-01-2022 5:08pm

Is there much involved with switching to AIB with regards direct debits coming out of my Ulster Bank current account?

NotAnotherOrange · 11-01-2022 5:41pm

https://www.boards.ie/discussion/comment/118456239#Comment_118456239

When you're not used to paying any fees, 100 euro suddenly sounds like a lot!

Also a shame to hear that Ulster Bank is the best app when they're the ones that are going.

PTSB is where our mortgage is going but obviously we'll have the option of shopping around for that if we wish. I will take a look into AIB then.

It seems like they might be the best option, unless I want to stick to where my mortgage is going.

Also need to set up a business current account soon so hopefully AIB is best for that and I can get it all done at once.

Citrus_8 · 11-01-2022 5:49pm

I booked with PTSB to open a CA with them and both times they booked me wrong. First time booked for 26th Dec, then for 30th Dec. When I went to the branch, they said a person I have an appointment with is off today and nobody has notified me. I asked if I was rebooked automatically and they said No! Booked again, got home to check options with AIB. Tried to open an account via AIB app but didn't let as I already had an account with them long before. Called their customer care and they said I have to book an appointment on the website but the agent was struggling to tell me what page exactly I should go to. Finally found and booked but figured out that DD or standing order setup costs 4.50 Euro per one. I have a few! If I want to amend standing order for my saving account, each amendment is 2.50 Euro!

Incompetent PTSB is who I will stick with, even though they drive me crazy. But a fixed monthly free and also the option to get 10c back for each bank card transaction is what would help to reduce my banking fees.

I would go with EBS but they don't have an app and if you want to setup or amend DD, you literally have to go to their website, print off the request, sign and post them.

BoI is a no no for me due to old-school system and very slow transfers.

Looks that Irish retail banking is currently don't have much to offer the customers, sadly.

NotAnotherOrange · 11-01-2022 6:06pm

https://www.boards.ie/discussion/comment/118456611#Comment_118456611

So PTSB is fixed fee but I can do as many transactions as I want?

What's the issues with the app versus others?

As long as I can move money between my accounts and joint accounts and make payments that should be enough (and Google pay).

Citrus_8 · 11-01-2022 6:29pm

https://www.boards.ie/discussion/comment/118456717#Comment_118456717

BoI and PTSB fixed fee and free Euro transactions as many as you want within Eurozone. AIB quarterly fee plus each transaction 20c, plus DD etc fees. EBS free but no app, no Google pay and lots of paper.

NotAnotherOrange · 11-01-2022 6:38pm

https://www.boards.ie/discussion/comment/118456863#Comment_118456863

Thanks!

Is there somewhere to see the differences in apps?

I know people keep saying the AIB app is best but not sure what it has over the others.

Confused11811 · 11-01-2022 6:59pm

https://www.boards.ie/discussion/comment/118456863#Comment_118456863

Coming in on this conversation too. Regarding EBS , I'm actually not to bothered about an app as long as the online website is functional enough to use.

However what is the online purchases experience like ? I assume it'll work fine with Paypal ? Is card manager app slow and laggy ? I tend to buy alot of high value demand items which are limited in stock. When the become available sell out in minutes so a quick SCA payment app is a bit of a must for me.

I'm considering a mix of EBS and Revoult or N26 going forward.

Citrus_8 · 11-01-2022 8:48pm

https://www.boards.ie/discussion/comment/118457108#Comment_118457108

EBS and Revolut/N26 sounds one of the best options. I would however take N26 due to Revolut not being a bank in Ireland. Don't know what are you referring to re card manager app as EBS doesn't have an app. SCA (one form or another) is mandatory in all the EU despite of the bank.

Citrus_8 · 11-01-2022 8:49pm

https://www.boards.ie/discussion/comment/118456945#Comment_118456945

I would also like to know the difference without a need of opening an actual account. But couldn't find any useful review/comparison.

thebourke · 11-01-2022 9:01pm

what about using revolut or n26?

Citrus_8 · 11-01-2022 9:23pm

https://www.boards.ie/discussion/comment/118457706#Comment_118457706

I'll risk being named but I can't trust putting my savings and getting a wage into one of these. I still want to know the actual physical present of the bank in the state I'm using its services. I use Revolut from time to time for Sterling purchases, though. Also, some providers don't accept non-Irish IBAN for DD's and I just don't want a hassle fighting this.

The cheapest probably is to get wages and major DDs to/from EBS, drop some money into Revolut/N26 and use it for daily transactions.

StevenToast · 11-01-2022 9:30pm

Im transferring to BOI....i just want a bank that will exist in 30 years...and theyre the only one I would trust to be around....their app is not a patch on Ulster bank but it works and is functional.....

Im not choosing a bank because of an app....im still f*cking sickened that Ulster Bank are gone.....been with them for 30+ years...

Such a ballache moving.....

Hibernicis · 11-01-2022 9:33pm

https://www.boards.ie/discussion/comment/118456945#Comment_118456945

See here https://www.askaboutmoney.com/threads/rating-the-personal-online-banking-for-current-accounts-from-aib-boi-ptsb-and-ebs.225418/

Confused11811 · 11-01-2022 9:43pm

https://www.boards.ie/discussion/comment/118457629#Comment_118457629

I was referring to this app - https://www.ebs.ie/ebs-faq/shopping-online/shopping-online--ebs-cardmanager-app

I currently use Revoult for some online transactions. I actually find it's SCA functionality to be quicker than Ulster Banks. I'll probably go with EBS and maintain my Revoult account, topping it up for online transactions and for Google pay. Seems like a decent low risk/low fee option.

Hibernicis · 11-01-2022 9:45pm

https://www.boards.ie/discussion/comment/118456350#Comment_118456350

AIB have a switcher pack, see here: https://aib.ie/content/dam/aib/personal/docs/our-products/current-accounts/switching-your-personal-current-account/personal-current-account-switching-pack.pdf

The alternative is to open a new current account with your new bank and replicate your standing orders and manually advise your new account details to any services/suppliers that you have a DD arrangement with. Then cancel the old ones and close the old account..

I chose the latter, as it allowed me to reorganise and rearrange a lot of the DDs, e.g. change dates etc. There were also a few that I moved to from my current account to my credit card. It also avoids an issue where some services (e.g. Netflix) dont usually move if you use the switcher pack. It took an a few hours on a wet Sunday afternoon to do this. I then monitored the new arrangements for a few weeks to make sure everything was working before closing the old accounts

Note that this only covers current accounts. Deposit accounts and credit cards are separate.

Hibernicis · 11-01-2022 10:02pm

https://www.boards.ie/discussion/comment/118457629#Comment_118457629

I guess there are two schools of thought. For those with pretty straightforward requirements and a desire to avoid bank charges at all costs, the N26/EBS option probably looks attractive. For me, having my current, deposit and credit card accounts with one entity, accessible via one app/portal with instant transfers between the accounts is highly desirable. The ability to visit a bricks and mortar bank to deal with any issues etc was an added bonus. And the ongoing issues that N26 are having with BaFin was probably the nail in the coffin for that option.

We appear to have a major hang-up with bank charges in this country. Free banking was something of an illusion that was introduced as an inducement, with the intention of recouping the charges by upselling. As a business model it failed spectacularly. In very simple terms, you get what you pay for. For me, and it’s a personal decision, the availability of a good(ish) quality app, one stop provider and single interface and instant transfer between accounts is worth the cost. Others will have a different perspective and are fully entitled to.

Citrus_8 · 11-01-2022 10:17pm

I don't trust account switching facilities. It failed to switch my Virgin Media DD and I have got caught in a few days as the due date was close. Bank and Virgin Media charged me missed DD fee. This time I will simply open a new account and do everything myself. Netflix and some other providers are not on DD but rather recurrent bank card payment so it's dealt differently. When a bank card lost or replaced with a new expiry date, we also need to update with Netflix in this case.

Davexirl · 13-01-2022 9:52am

I opened an EBS account and use it for my salary and direct debits, I use Revolut for my day to day spending. The EBS online banking is basic but it does the job.

rameire · 14-01-2022 11:08am

https://www.boards.ie/discussion/comment/118456611#Comment_118456611

You say the DD setup there is a fee of 4.50 for each account. Does this include if you do all the online details yourself?

I know there is a charge every time a DD comes out at 20c per DD. I cannot see that fee for DD.

For standing orders it says there is a €4.50 for a Manual setup and zero fee for Kiosk and internet setup.

https://aib.ie/content/dam/aib/personal/docs/fees-and-charges/account-fees-and-service-charges.pdf

Citrus_8 · 14-01-2022 5:40pm

https://www.boards.ie/discussion/comment/118472583#Comment_118472583

Thanks so much and you're completely right! I must have looked it wrong and missed the key word manual in this case. Either way, for me Permanent TSB appeared to be slightly cheaper to have an account with.

Fishy1 · 15-01-2022 7:48pm

Am also having to look at alternatives to Ulster Bank / KBC. I came across this article a while ago & have bookmarked it for future reference. I keep hoping that a new banking alternative will decide to launch on the Irish market. Highly unlikely though!

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

Switching from Ulster Bank to...

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