UlsterBank eSavings Account

tried to add ub current a/c to fa account but had to do it on phone. less than 5 mins.
 
Got the account setup now finally. How long does a transfer from Ulster to say BOI take - is it the usual 2/3 days?

Thanks
 
ClubMan said:
The card that you use with the card reader is not an ATM or debit card. It's specifically for use with the reader for generating response codes that are required for certain operations.
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You serious? They're going to be sending me a special card to use with this gizmo? Has the use of this been initialised yet? I've only made one withdrawl but didn't have the card-reader back then.
 
Yes - they sent you a special card for use with the card reader. It is not an ATM or debit card or anything else. It's solely for use with the reader as I outlined above.

You have to enable your account for use with the card/card reader. Once you do you will need it to perform certain operations/transactions. I have enabled my account and been required to use the card/card reader.
 
Have you any idea of the justification for this, apart from security? As I haven't received my card yet, I'm just trying to imagine what it's like to use it.

Taking the Rabo "Digipass" for example, I always found this to be a gimmick. However, I can see how it adds security. You can't login from anywhere in the world unless you've actually brought the Digipass with you.

With this Ulster Bank system, on the surface it seems the same. But why have a card and a card-reader? Surely most people are going to keep the two of them together, in which case it would be easier just to have a Digipass system.
 
Gautama said:
Have you any idea of the justification for this, apart from security?
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Why should there be any "justification" other than security? :confused:
As I haven't received my card yet, I'm just trying to imagine what it's like to use it.
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Isn't it all documented/described on their website. It is somewhere on the FA website anyway.
Taking the Rabo "Digipass" for example, I always found this to be a gimmick. However, I can see how it adds security. You can't login from anywhere in the world unless you've actually brought the Digipass with you.
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So it's not a gimmick then! It's part of a two factor authentication mechanism which is always more secure than a simple (multiple) password/PIN based one.
With this Ulster Bank system, on the surface it seems the same. But why have a card and a card-reader? Surely most people are going to keep the two of them together, in which case it would be easier just to have a Digipass system.
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UB's is arguably even more secure because now you can keep the card and reader separate for enhanced security. Either way this is simply the device/mechanism that UB chose and it's different from Rabo's. Their prerogative.

By the way - I was getting confused between UB and FA above. It was FA who sent me the card and reader but I think that UB probably use the same sort of device.
 
Fair enough. Ulster Bank own First Active anyway, which explains why their accounts are so similar. I haven't heard anything from the latter about card-and-card-reader, just from the former, though card-reader only so far.

Though firmly sceptical of Northern Rock, I have to say I prefer their system of password and questions, rather than these gadgets. Was happy enough with UB and FA as they were.
One of the blessings of the internet and internet banking is the "anytime, anywhere" nature of it. This is somewhat shackled if you need physical devices, rather than simply mental ones, to access your account.

Also, I'd problems with my Rabo Digipass over a year ago. I never liked it, then when it went wonky I couldn't access my money for weeks... those weeks just before Christmas and just after New Year.

Ah well, shouldn't whinge too much, should be grateful to have the wonga to deposit in these accounts in the first place.
 
Gautama said:
Though firmly sceptical of Northern Rock, I have to say I prefer their system of password and questions, rather than these gadgets.
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Security comes at some cost in terms of convenience. NR's approach is certainly inherently less secure that that of others who use two factor authentication using external "gadgets".
Was happy enough with UB and FA as they were.
One of the blessings of the internet and internet banking is the "anytime, anywhere" nature of it. This is somewhat shackled if you need physical devices, rather than simply mental ones, to access your account.
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As I have said elsewhere I personally welcome the increased security that these devices bring even if it is at a (slight in my opinion) cost in terms of convenience.
Also, I'd problems with my Rabo Digipass over a year ago. I never liked it, then when it went wonky I couldn't access my money for weeks... those weeks just before Christmas and just after New Year.
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Rabo are pretty good at replacing lost or faulty units in my experience.
 
ClubMan said:
Rabo are pretty good at replacing lost or faulty units in my experience.
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Sounds like this has happened to you more than once.
With me it has happened once, so far. I had the Digipass around 18 months. Had used it probably 10 times. To go faulty after such little use was a concern, and like I've already stated, it took another three weeks to replace it.

This was a huge inconvenience considering that on the occasion I discovered the fault I was logging in to logde money, (using MoneyMover?) rather than some mickey-mouse balance check, or whatever. As it pans out, by the time I'd received the replacement Digipass, I had already opened an NR account and lodged the funds into the latter!

Rant over.
 
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I see Ulster Bank now has an eSaving Plus account. It not much good for balances below €15k as they earn 0.01%. Balances above €15k up to €1m will earn 5.00% (with a bonus the rate is 5.50% for the first six months). Also interest is paid monthly, though if you make a withdrawal in any month no interest will be earned for that month.

For large balances this looks like a good deal.
 
Taxi Driver said:
I see Ulster Bank now has an eSaving Plus account. It not much good for balances below €15k as they earn 0.01%. Balances above €15k up to €1m will earn 5.00% (with a bonus the rate is 5.50% for the first six months). Also interest is paid monthly, though if you make a withdrawal in any month no interest will be earned for that month.

For large balances this looks like a good deal.
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though if you make a withdrawal in any month no interest will be earned for that month


That is a major condition.

This is far from a best interest rate or a best savings product.
 
Just take the money out on the first of the month ?

5.5% for 6 mths and then 5% on demand over 15k -- Don't see much better around. I don't want to put my money in Anglo even with the guarantee.
 
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