Switching from Ulster Bank to...

Maybe it's only for those with mortgages?

PTSB and UB don't have an agreement for personal current or saving accounts.

Sounds like Chinese whispers.

ANother UB customer looking for options. Joined when I got a Henry Hippo money box and school pack in the early 80's and been a customer ever since! Love the App and disappointed to see none of others are a patch on it.

Main banking use is get my salary paid in, a few bill by standing order and a transfer to Revelot about once a month, which I then use for day to day spending. Maybe one cash withdrawal ever 3 or 4 months. Also would probably have a bank transfer to a friend or buying something every month or so and the App was handy for that but Revelot is taking over a lot of my use for this

Probably going to wait as long as I can without switching and hopefully an easy option appears! I am not really that fussy who i end up with - if one of them developed a good app then I probably would choose them. Whoever it is will earn a lot more from me in bank charges then UB ever did!!

Is yours by any chance a small business account ? If so then it may be transferred to PTSB, as PTSB are acquiring some of Ulster Bank's small business accounts. They are not acquiring Ulster Banks retail business (i.e. personal account holders). The following is an overall summary of what is happening:

Ulster bank have said repeatedly: Beginning in early 2022, on a rolling basis, we will start to give current and deposit account customers formal letters of notice of up to six months, to choose a new bank; move to that bank; and close their Ulster Bank accounts. If no action is taken, customer accounts will be closed with a cheque issued for any remaining balance.

AIB is acquiring €4.2 billion of performing Ulster Bank corporate and commercial loans (Large commercial business)

PTSB is acquiring (1) The performing non-tracker residential mortgage book of Ulster Bank (approximately €7.0 billion) (2) The performing micro-SME (“Business Direct”) loan book of Ulster Bank (approximately €230 million) and (3) The entire Lombard Asset Finance loan business of the Ulster Bank (approximately €400 million)

PTSB is also acquiring 25 branches from Ulster Bank’s branch network and taking some staff. (Note that PTSB is acquiring the branch buildings and the some related staff, not the accounts – the accounts will need to be transferred by the account holder or they will be closed by Ulster Bank and a cheque issued for the balance).

No final announcement has been made in relation to either performing tracker mortgages (AIB has been mentioned as a possible destination)  or non performing mortgages. 

Note that PTSB's website states: Your Ulster Bank Current Account will not transfer automatically to Permanent TSB as current accounts are not included in the transaction agreement. 

Most of the above is subject to approval by the CCPC (The Competition and Consumer Protection Commission)

I switched from Ulster Bank to AIB a couple of months ago, without too much hassle.

Be aware, that AIB won't automatically supply a credit card, and you will have to wait six months to get one.

I kept my UB credit card and supplied the credit card department with my AIB IBAN details. However, they have not taken any direct debits from it and I am now getting default letters from UB credit card. I have called their number five times and have been assured that they would rectify the problem, but am still getting the late payment letters.

Has anyone else had this problem? I am worried that the very small amount on my credit card is going to affect my credit history which was AI before this debacle.

Surely a new direct debit mandate would be required given that the debiting account has changed?

Also - it is not mandatory to pay your UB credit card bill by direct debit. You can pay manually via tear-off portion of bill OR via internet banking (minimum payment, full balance or other amount). If there's an issue with the new direct debit, you need to take responsibility yourself and at least pay the minimum amount due.

I opened a current account with AIB last week in local branch. Account opened seamlessly & quickly. Professional & friendly service. Was able to open a savings account myself via their app the following day. Will do all the switching of direct debits, standing orders and recurring payments myself over the next couple of months.

I switched from UB to PTSB as we have our mortgage with them so I get 2% back p/m with their Explore account.

I went into a branch to do the switch, very happy with the customer service in branch and the switching process.

But I have to say I'll really miss UB. Their app and online banking is light years ahead, and the customer service phone lines are answered within a few rings usually. PTSB, I've found myself waiting 10 minutes+ sometimes. With UB, I had the UFirst account, which had some good benefits like 25% back off ticketmaster booking (less beneficial in recent years I suppose for obvious reasons, but was good when I was going to multiple concerts every year).

How will you manage not paying fees if changing from EBS? There won't be an option not to pay if you'll need to use an Irish bank.

BOI 6 Euro a month, most things then free.

PTSB 6 Euro a month, most things then free and 10c go back for each online or POS transaction.

AIB 4.50 Euro per quarter plus 20c POS chip & pin, contactless free, 20c online transactions, online purchases, DD's, SO's, 35c ATM.

I have moved to PTSB recently from KBC and are shocked how old school they are. Now in the process of changing to AIB and I will run away from PTSB.

Reached out to EBS last week to open a current account (my two existing current accounts are with UB and KBC!!) - and EBS tells me it will take 6-8 weeks for them to call me back to open this account.

Is this normal / reflection of the demand or are they just putting it on the long finger to avoid taking new business until they announce whatever they are planning?

demand, Aib have a few months wait to open an account.