Ulster Bank to offer €150 to switch your current account

I see. I availed of the first (or second?) incarnation of this offer but didn't switch as I kept my existing PTSB current account. I got the full €150 with no deductions. After a few months I reverted my salary mandate back to my PTSB account. Subsequent offers were contingent on one using the new UB account as your normal current account for day to day banking purposes and salary mandates for some specific period of time but originally they did not have such restrictions. I kept the UB account open but empty since. However I'm going to use it for other purposes from now on so it was handy to open it in the first place.
 
I think its not right that they are advertising it as '€150 to switch your current account' but charging €13 for switching.
 
ClubMan said:
What do the terms & conditions and additional bumpf say?
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Nothing about a charge
Terms & conditions of €150 offer

  1. This offer is available from Ulster Bank Ireland Limited in the Republic of Ireland (hereafter “Ulster Bank”).
  2. The offer is only available to new customers who switch their existing current account and mandate their salary to an Ulster Bank ufirst Account, Current Account or Step Account (hereafter a “Current Account”) using the Ulster Bank centralised switching team between 7th January 2008 and 21st March 2008.
  3. The offer is not available to existing Ulster Bank current account customers; it is not applicable to new student current accounts.
  4. Each customer may avail of this offer in respect of one Current Account only.
  5. In order to be eligible for this offer, customers must use their new Current Account as their “main account” for a period of 18 months from the date of account-opening. This means that the customer’s salary/wages must be paid into the new Current Account on a weekly/fortnightly/monthly basis depending on the frequency the customer is paid.
  6. Ulster Bank will credit €150 into new qualifying Current Accounts on or before 2nd May 2008.
  7. Ulster Bank shall be entitled to refuse to pay, or to seek repayment of, the €150 (whether by debiting the Current Account or otherwise) if it deems in its discretion that the new Current Account has not been opened or operated in accordance with these terms and conditions.
  8. All applications to open a Current Account are subject to acceptance by Ulster Bank; the relevant Current Account terms and conditions will apply.
  9. This offer is subject to change; it may be withdrawn by Ulster Bank at any time.
 
Maybe the tariff of charges booklet has something about the switching charge so?
 
Just noticed this in [broken link removed]:
Ulster Bank shall be entitled to refuse to pay, or to seek repayment of, the €150 (whether by debiting the Current Account or otherwise) if it deems in its discretion that the new Current Account has not been opened or operated in accordance with these terms and conditions.
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I don't think that this applied to previous offers. Anybody know?
 
Do i have to close my old account?

I plan on switching to Ulster bank, getting the 150 (how long does it take to pay in), having my salary put through it (thats going to be loads of hassle changing that) and then transfer my salary straight out into my FA esavings.
Is this worth the hassle of it all, is it a lot of hassle?

How are Ulster bank as a bank? im with AIB and tbh there grand, i love their online banking system, my cc card is with them and ive never had any problems with them, would be reluctant to change, but 150quid is a few good nights out for me!
 
garythegreat said:
Do i have to close my old account?
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I don't think so but they do seem to require that you switch (e.g. DDs, salary mandates etc.) and use the account as your "main" account for 18 months now whereas previously they didn't seem to be as strict.
I plan on switching to Ulster bank, getting the 150 (how long does it take to pay in)
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As per their website they will pay by/in May.
having my salary put through it (thats going to be loads of hassle changing that)
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Why? Surely you just tell your employer (HR/payroll department) well in advance of the next payroll run and they should take care of it?
and then transfer my salary straight out into my FA esavings.
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That's what I did for a while alright.
Is this worth the hassle of it all, is it a lot of hassle?
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It's a little hassle but not much. Is it worth €150? Your call.
 
Anyone know how long you have to change your salary to go into it?
I have no DD, just my credit card, so the only thing the account will be used for is my salary. But im changing jobs now, rather than get my payroll to change my account now, could i wait till i change my job (in 4 weeks) and just give them my Ulster bank details?

Or does it have to be done straight away?
 
garythegreat said:
Anyone know how long you have to change your salary to go into it?
I have no DD, just my credit card, so the only thing the account will be used for is my salary. But im changing jobs now, rather than get my payroll to change my account now, could i wait till i change my job (in 4 weeks) and just give them my Ulster bank details?

Or does it have to be done straight away?
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Just know that [broken link removed] apply, as discussed previously.

The offer is valid until 21st March, apparently.
 
garythegreat said:
Anyone know how long you have to change your salary to go into it?
I have no DD, just my credit card, so the only thing the account will be used for is my salary. But im changing jobs now, rather than get my payroll to change my account now, could i wait till i change my job (in 4 weeks) and just give them my Ulster bank details?

Or does it have to be done straight away?
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I would imagine that they allow people a few weeks to get this sorted. I doubt that this will be a problem but ask them to be sure.
 
garythegreat said:
How are Ulster bank as a bank?
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I have been with them a good number of years. Have my mortgages with them and I always found them fine to deal with. Their internet banking in my opinion is pretty good as well.
 
The 10% offer on balances of up to €2000 with Halifax is better.

I opened an account with UB the last time to get the €150.

I find the website good.

I am still waiting for the €150.
 
Went up to set the account up today, but couldnt. Im just back from Australia and only started working again in December, cos i havent had my salary paid into my account for the last 3 months, I wouldnt get the 150. So i didnt bother opening the account, im happy with AIB and not changing if im not getting the 150quid. the ulster bank lady wasnt to impressed when I told her that, she said "so your just changing for the 150euro" and i said "yep, thats the only reason!"
 
cork said:
The 10% offer on balances of up to €2000 with Halifax is better.

I opened an account with UB the last time to get the €150.
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Do both if possible. Costs you nothing (as long as you don't use any unnecessary ATM/debit cards that you get since stamp duty only applies if you do this).
 
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