# Ulster Bank to offer €150 to switch your current account



## CCOVICH (22 Feb 2007)

No official info yet on the web yet, but I have heard the following:

Commencing Monday 26 February, UB will pay anyone who opens an account €150.  
 
Customers will simply be required to switch and redirect their salary to an Ulster Bank current account to receive the cash incentive. 

There are no minimum monthly lodgement requirements or other conditions making this offer easy and straightforward for customers.


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## ClubMan (22 Feb 2007)

So opening one, having salary paid to it, and then reverting to your old account (possibly including salary payment) could yield €150?


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## CCOVICH (22 Feb 2007)

Detailed terms and conditions to follow I'm sure......


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## irishpancake (23 Feb 2007)

CCOVICH said:


> No official info yet on the web yet, but I have heard the following:
> 
> Commencing Monday 26 February, UB will pay anyone who opens an account €150.
> 
> ...



It's [broken link removed].

Seems a no-brainer, €150 "cash incentive" straight up, no strings, no conditions, apparently.


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## Welfarite (23 Feb 2007)

Does UB offer free tranactions on this account? What are their online facilities like re DDs, Mortgage payments into other accounts (PTSB specifically)?


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## ClubMan (23 Feb 2007)

Questions, questions... this offer is ostensibly for *switching *to _UB _which might suggest that you must fill in one of those current account switcher forms that switches an *existing *current account to _UB _and everything that goes with it (e.g. _DDs _etc.) rather than just going to _UB_, opening a *new *account and arranging to have your salary paid in but keeping your original "main" account?


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## MugsGame (23 Feb 2007)

This risks alienating existing UB customers. I wonder how many will close their accounts temporarily (BUPA-Quinn style) to avail of the payment when (re)opening the account?

This and the recent AIB 4% on current account balances deal are probably a pre-emptive strike against Halifax, who are rumoured to be introducing a similar payment incentive for opening a new account.

Personally these amounts are quite small when compared with the hassle of switching. Overall service levels of the bank and the online banking features are far more important to me. A continual focus on headline bank charges and "free banking" may lead us down a road of nominally free banking but with stealth fees for things like withdrawals from a different bank's ATM network.


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## CCOVICH (23 Feb 2007)

Welfarite said:


> Does UB offer free tranactions on this account?


 
Yes, the banking is 'free'.


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## momomo (26 Feb 2007)

has any one taken up this offer yet?
just wondering if its only your salary that you have to change to their bank and not credit cards,dd's etc?


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## Welfarite (26 Feb 2007)

*Re: Ulster Bank to offer €150 to switch your current account*



MugsGame said:


> This and the recent AIB 4% on current account balances deal are probably a pre-emptive strike against Halifax, who are rumoured to be introducing a similar payment incentive for opening a new account.



Happened to be in teh North saturday and noticed ad in Halifax window; 100sterling on opening/switching (can't remember which) current account with them ....


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## DrMoriarty (26 Feb 2007)

ClubMan said:


> Questions, questions... this offer is ostensibly for *switching *to _UB _which might suggest that you must fill in one of those current account switcher forms that switches an *existing *current account to _UB _and everything that goes with it (e.g. _DDs _etc.) rather than just going to _UB_, opening a *new *account and arranging to have your salary paid in but keeping your original "main" account?


It says clearly:


> From 26 February until 31 March, *all new customers opening a personal current account with Ulster Bank will automatically receive a €150 reward *as well as getting one of the best current accounts on the market.


But then adds: 





> To get your €150, just *switch* to an Ulster Bank personal current account and mandate your salary. [...] *once you've switched*, we'll credit your new Ulster Bank account with €150!


Unclear, to say the least, but it looks like the €150 is contingent on you closing down another account. Under [broken link removed], it doesn't say anything about clawing back the €150 if you later go back to the 'enemy', though... and sure maybe by then the 'Big Two' will have devised their own PR counter-offensive? 

I can see payroll offices all over the country just _loving_ this!


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## ClubMan (26 Feb 2007)

Wonder if I approach _PTSB _will they pay me €150 to *stay*?


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## KalEl (26 Feb 2007)

ClubMan said:


> Wonder if I approach _PTSB _will they pay me €150 to *stay*?


 
Apparently the offer has less to do with getting your business and more to get the detailed personal financial information you have to provide when opening a current account.


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## ClubMan (26 Feb 2007)

According to whom?


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## KalEl (26 Feb 2007)

ClubMan said:


> According to whom?


 
Business section of the Sunday Times, an article by a guy called Mark Paul. 
I quote..."The catch is the customer's salary must be paid into the account. Therein lies the rub. What the financial institution really wants is access to your paycheck. Read the fine print and the savings are modest, certainly compared to what is on offer in the mortgage war. 
'A current account is the beginning of a relationship between a bank and a customer' says Patrick Farrell, head of product marketing at Ulster Bank. 'It's really just a transactional engine to service their daily needs. But with the details supplied with a current account opening we can find out what a customer's other needs are and to help them out if need be' "


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## ClubMan (26 Feb 2007)

Fair enough. Personally I wouldn't be paranoid about a bank having such details myself and at the moment not having a mortgage on which to make savings the €150 for potentially little hassle looks attractive.


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## KalEl (26 Feb 2007)

ClubMan said:


> Fair enough. Personally I wouldn't be paranoid about a bank having such details myself and at the moment not having a mortgage on which to make savings the €150 for potentially little hassle looks attractive.


 
Presumably they've made an allowance in their calculations for people like us who might "abuse" their offer for want of a better word!
I think the central premise of the article is sound...they'll make a lot more money from the customer than the €150 it costs to "buy" that custom, even allowing for the buzzards.


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## DrMoriarty (26 Feb 2007)

I'm not sure what he means by 'the savings'; UB already had [broken link removed] personal banking. Yes, they will now know your salary — as does whichever bank you were having it paid into previously. And your mortgage lender. And your broker. And God knows who else...

The 'fine print' hasn't changed, and all you need to apply for this €150 gimmick (which it is, but it beats a free desk calendar and a rubbish holiday voucher...) is the usual proof of identity.


> Terms & Conditions of offer
> 
> Offer available to all new current account customers opening a new Ulster Bank current account and mandating their salary to the new account. Offer also available to all new customers who switch their current account to Ulster Bank using the Ulster Bank centralised switching team.
> Offer is not available to existing Ulster Bank current account customers.
> ...


Like I said, I don't see anything there that could entitle UB to take back the €150 if you closed the account after a 'respectable' period. Also, and contrary to what I said earlier, (1) above makes clear that you _don't_ have to blow off your other bank ...unless you want to, of course! And presumably, when the flow of junk mail starts arriving as UB tries to 'find out what your other needs are and to help you out if need be', you can opt out of it in the usual manner.

_[Edit: They ain't met a buzzard like me yet!  I think I might go for it too...]_


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## ClubMan (26 Feb 2007)

Do you have to take any or all of _ATM _card, _Laser _card, chequebook on this account thus getting hit for _SD_? Do they offer online banking?


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## ClubMan (26 Feb 2007)

Actually - according to [broken link removed] it seems that you do have to switch from your old bank to _UB_. That wouldn't suit me personally for the sake of €150. If I could get €150 for simply opening an account, having my salary lodged,


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## KalEl (26 Feb 2007)

ClubMan said:


> Actually - according to [broken link removed] it seems that you do have to switch from your old bank to _UB_. That wouldn't suit me personally for the sake of €150. If I could get €150 for simply opening an account, having my salary lodged,


 
It's a bit unclear alright which would lead me to believe it won't be as easy as we think.
Seems to suggest you don't have to avail of their switcher service which closes your old account. Suppose you could open an account with NIB, then go to UB, use their switcher service and have them close the NIB account all the time having your real account. 
There are easier ways to make €150...like sticking €100 on Tiger to win the Masters!


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## DrMoriarty (26 Feb 2007)

> Terms & Conditions of offer
> 
> Offer available to *all new current account customers opening a new Ulster Bank current account and mandating their salary to the new account*. Offer *also* available to all new customers who switch their current account to Ulster Bank using the Ulster Bank centralised switching team.


...?


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## KalEl (26 Feb 2007)

DrMoriarty said:


> ...?


 
Read the entire link Clubman posted...personally I think they've factored in the minority who'll "abuse" the offer but elsewhere it mentions closing your other current account a little too prominently!


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## DrMoriarty (26 Feb 2007)

I did; I posted the formal Ts&Cs from that link above! I hear what you're saying, but no. 1 (re)quoted above is very misleading, if it turns out that you do in fact have to close another account.


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## ClubMan (26 Feb 2007)

I suspect that by "new current account customers" they mean somebody who has no existing current account with another insitution and is opening a current account for the first time with _UB_ and that others would have to actively switch their accounts from another insitution? Maybe they can't really police that but then maybe item 7 of the terms & conditions comes into play? Already looking like too much hassle to me...


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## KalEl (26 Feb 2007)

ClubMan said:


> I suspect that by "new current account customers" they mean somebody who has no existing current account with another insitution and is opening a current account for the first time with _UB_ and that others would have to actively switch their accounts from another insitution? Maybe they can't really police that but then maybe item 7 of the terms & conditions comes into play? Already looking like too much hassle to me...


 
Even switching the bank account your salary is paid into is a hassle...plus I don't like Ulster Bank after dealing with them over a Tesco loan. Would have been nice to get a free €150 but not worth the grief.


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## ClubMan (27 Feb 2007)

I mentioned the offer to a colleague and he warned me off _UB _on the basis of the poor customer service that he had experienced with them. And this guy would normally jump at the chance of a free €150!



KalEl said:


> Even switching the bank account your salary is paid into is a hassle..


Why? At the bank end or the company end (don't think the latter would be a problem in my case)?


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## KalEl (27 Feb 2007)

ClubMan said:


> I mentioned the offer to a colleague and he warned me off _UB _on the basis of the poor customer service that he had experienced with them. And this guy would normally jump at the chance of a free €150!
> 
> 
> Why? At the bank end or the company end (don't think the latter would be a problem in my case)?


 
Not for you or indeed me...but it is a factor whose significance depends on the individual's circumstances.You're right though, their reputation is not good from a customer service point of view.


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## plaudit (2 Mar 2007)

We have 2 laser cards with our BofI current account at the moment, if we switch and close our BofI accounts do we have to pay the Tax on these cards again? I have no idea when we paid the tax last or when it is due


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## ClubMan (2 Mar 2007)

See this _Revenue _guide:

[broken link removed]


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## slave1 (2 Mar 2007)

slightly off topic, what does the reference posted earlier re temporary closing of account BUPA/Quinn refer to?
Tks


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## ClubMan (2 Mar 2007)

Here? No idea! Maybe _BUPA/QL _offered similar cash bonus incentives to people who switched from other health insurance/investment providers and people switched temporarily to avail of these but then eventually returned to their original provider or something? Doesn't ring any bells for me though...


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## MugsGame (2 Mar 2007)

I was trying to make a crude analogy between BUPA's strategy of avoiding equalisation payments by selling to Quinn, and existing UB customers who might close their account temporarily, in order to move back and avail of the €150 bonus!


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## DrMoriarty (2 Mar 2007)

I've just been on the 'phone to my local branch to confirm that what I understood/suggested above was correct, i.e. that you _don't_ have to shut down another account and switch everything over to the new UB one, just open an account and transfer your salary payment to it. And of course you can register for their online banking thereafter.

In addition to the usual proof of identy, they want to see three months' salary slips and three months' bank statements (as do many other institutions, and all lenders). I've revealed more of myself for less in the past , so I think I'll go for it. But I'm going to ask _not _to be issued with a Laser card, so as to avoid the €40 duty. I'm not too bothered about the chequebook duty; one book of cheques will probably last me 10 years...


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## ClubMan (2 Mar 2007)

Thanks for that info _DrM_!


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## Joe1234 (2 Mar 2007)

DrMoriarty said:


> just open an account and transfer your salary payment to it.




What about those people who still get their wages/salaries paid by cheque?  From reading the T & C, it seems that unless you mandate your salary to the new account, you cannot avail of the 150.


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## DrMoriarty (2 Mar 2007)

This is true.

I'll let you know how I get on with the request not to have a Laser card — I can't really see why they should have a problem with it, since it doesn't of itself generate any direct revenue for the bank. Unless they see it as an integral part of their 'point-of-sale brand awareness generation dynamic' or something...


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## DrMoriarty (5 Mar 2007)

Just a quick update, as promised. I called to my local branch this morning and opened an account, and I _didn't _have to order a Laser/ATM card, nor even a chequebook (although obviously I have the option there for the future, if I ever want it). So the account should cost me zilch and, once I mandate my salary to it, earn me €150. Needless to say, I ticked the relevant boxes indicating that neither UB nor any approved third parties were to contact me to offer other products or services. 

The whole process, including form-filling, took less than 10 minutes — pleasantly smooth and efficient. They didn't offer me a cup of coffee, though — stingy, or what!?


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## ClubMan (5 Mar 2007)

Did they offer you a free financial review though?


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## DrMoriarty (5 Mar 2007)

I'm not their kind... 

The three months' bank statements I gave them are for an old BoI savings a/c which shows about 10 transactions per month — salary and CB 'in', credit card DD and a few ATM withdrawals 'out'. A fellow has to keep a certain air of mystery about him, don't you think?


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## plaudit (6 Mar 2007)

DrMoriarty was it a joint account by any chance, (will my wife have to come in with me?)

Did you need to bring ID and bills etc. with you or were the old bank statements enough?


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## DrMoriarty (6 Mar 2007)

Hi plaudit,

No, just an account in my own name — my wife is in 'unpaid employment'. But as far as I can see, the partner in a joint account application wouldn't have to be physically present, once they'd signed the application form (available in branch) and provided proof of identity and of address — see [broken link removed]. If you ring your [broken link removed] they should be able to clarify whether they'd need bank statements in both names.


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## plaudit (14 Mar 2007)

I just went to my local Ulster Bank and did the switch. There is a raft of forms to be signed and it took about half an hour. The biggest issue is trying to coordinate so that about 10 standing orders / direct debits get switched over immediately after my first salary goes into the account.


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## ClubMan (20 Mar 2007)

_DrM _- did you actually "switch" the old account to _UB _- i.e. did you transfer any _DD _payments over and/or have to close the old account? I'd like to open a _UB _account and just have salary paid in, not get an _ATM/Laser _card, keep my existing _PTSB _account and leave all _DDs _paying off it and still collect the €150 but I doubt that this would be possible? I suppose I can try...


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## Joe Nonety (21 Mar 2007)

What interest rate does AIB give on amounts over €1500? I presume it's something miniscule? If so I think I'll just put €1500 into AIB and €1500 into PTSB and just transfer €1500 from each to the other once a month and transfer the interest into my rabodirect account.


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## DrMoriarty (21 Mar 2007)

I think you're in the wrong thread, Joe Nonety..?

@ClubMan: No, that's exactly what I did — opened a new a/c and arranged to have my salary paid into it. I didn't have to close the old BoI a/c or switch the DDs to the new UB one. I must check at the end of the month and make sure I get my €150 as promised!


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## ClubMan (21 Mar 2007)

Thanks _DrM_. All the bumpf seems geared towards actually switching lock, stock and barrel and the "get out clause" in the Ts&Cs seems designed to root out the likes of you (and me!). Did they not hesitate at all when you told them that you didn't actually want to switch/close the other account?


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## DrMoriarty (21 Mar 2007)

Nope. Admittedly I didn't 'put it that way'; I just said I wanted to open a new account and that I understood I'd get €150 if I had my salary paid into it. Now, if I turn around after my March pay 'lands' and set up a monthly SO to transfer my entire salary –€1 into another a/c, and use the UB a/c for _nothing _else, then I could kinda understand them invoking that clause about breaching the 'spirit' of the offer. 

We'll see...


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## ClubMan (30 Mar 2007)

DrMoriarty said:


> Just a quick update, as promised. I called to my local branch this morning and opened an account, and I _didn't _have to order a Laser/ATM card, nor even a chequebook (although obviously I have the option there for the future, if I ever want it). So the account should cost me zilch and, once I mandate my salary to it, earn me €150. Needless to say, I ticked the relevant boxes indicating that neither UB nor any approved third parties were to contact me to offer other products or services.
> 
> The whole process, including form-filling, took less than 10 minutes — pleasantly smooth and efficient. They didn't offer me a cup of coffee, though — stingy, or what!?


Gave it a go this myself this morning on the last day of the offer (I think). Filled in the account application form, skipped the bank card application form and didn't see the switcher form at all. If I can get the €150 at the end of April for just opening the account, switching my salary to it and operating it via phone/internet then I'll be happy.


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## mobileme (30 Mar 2007)

I was told on the phone yesterday when I called to enquire about it that the offer has been extended to end April.


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## ClubMan (30 Mar 2007)

Yeah - I see that now [broken link removed]. Up to last night the website said that the offer closed end of March.


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## zephyro (12 Apr 2007)

Called to my local branch today and was told that opening a new account and mandating my salary wouldn't qualify me for the €150, I'd also need to switch my existing account.


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## ClubMan (12 Apr 2007)

I opened an account on the 31st March but heard nothing since. I just called the branch and they told me that the letter was sent out but I never received it.  They confirmed that the account had been opened and they gave me the sort code/account number. I had also declined to fill in the _Laser/ATM _card application form but one was issued but not "activated" anyway! They have now cancelled this and told me that there should not be any _SD _hit (I think _Laser/ATM _cards have to be used before _SD _becomes due?). The security checks involved them telling me my address and date of birth and asking if they were correct! I forgot to ask if I was entitled to the €150 (once I mandate my salary into the account) and how to get online access to the account.


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## Joe1234 (12 Apr 2007)

ClubMan said:


> I opened an account on the 31st March



On a Saturday??


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## ClubMan (12 Apr 2007)

Friday March 30th. My mistake. Sincere apologies for all the confusion that this mistake will have caused.


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## Joe1234 (13 Apr 2007)

Your sincere apologies are accepted!!!


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## zephyro (13 Apr 2007)

ClubMan said:


> I opened an account on the 31st March


 
Which type of account did you open, i.e. Standard/ufirst/Step/Dual?


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## ClubMan (13 Apr 2007)

Standard I think. Whatever one this €150 offer applied to and the box was pre-ticked on the form.


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## DrMoriarty (13 Apr 2007)

ClubMan said:


> The security checks involved them telling me my address and date of birth and asking if they were correct!


 ​


ClubMan said:


> I forgot to ask if I was entitled to the €150 (once I mandate my salary into the account) and how to get online access to the account.


I'm a couple of steps ahead of you in the process, ClubMan, so if I may..?

To access the a/c online you have to first [broken link removed], providing various personal details (nothing heavy). They'll then post you out a letter with a blacked-out security tab concealing your activation code. However, contrary to what the wording of the letter implies, you seem (like me) _not _to have been issued at the time of opening the account with a Customer ID no. which includes your d.o.b. So you'll ring their help desk (1850 300 365) and identify yourself — hopefully with some more stringent security checks! Now, _if _you'd a Laser/ATM card, they'd be able to give you your Customer ID no. over the 'phone. But because (like me) you don't, they'll insist on posting it out to you instead.

All a bit laborious, admittedly, but mine was posted out the day before yesterday (from Belfast, I guess), so I'm hoping it'll be in Monday's post and I'll be up and running...

Oh, and the terms of the offer state that your €150 will be credited to your account 'on or before 30 April'. 


_[Edit: just an afterthought — I seem to remember reading an article once in which a bank spokesperson railed about the stupidity (he may have used a milder word...) of the vast numbers of customers who persist in using their d.o.b. for their PIN or online password. Yet here we have _UB _issuing customer ID numbers based on the customer's d.o.b. 'and a few letters' (the words of the help desk lady I spoke to)...? ]_


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## ClubMan (1 Jun 2007)

So - did anybody get their €150 yet?


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## MrKeane (1 Jun 2007)

ClubMan said:


> So - did anybody get their €150 yet?


 
Yes, about 6 weeks ago at a guess!


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## ClubMan (1 Jun 2007)

MrKeane said:


> Yes, about 6 weeks ago at a guess!


Why 6 weeks ago? The offer was extended to the end of April and they were planning to pay the €150 to new account holders at the end of May according to what was on their website up to yesterday.


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## DrMoriarty (1 Jun 2007)

Mine was supposed to be there by the end of April, but it showed up on May 4th. I'll let it pass, just this once...


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## Joe1234 (1 Jun 2007)

ClubMan said:


> Why 6 weeks ago? The offer was extended to the end of April and they were planning to pay the €150 to new account holders at the end of May according to what was on their website up to yesterday.



In one of the papers last weekend, Saturday's indo I think, there was a flyer, stating that the offer was open until the end of May.


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## MrKeane (4 Jun 2007)

ClubMan said:


> Why 6 weeks ago? The offer was extended to the end of April and they were planning to pay the €150 to new account holders at the end of May according to what was on their website up to yesterday.


 
I can't remember the exact dates but a couple of weeks after my salary entered the account (which was the criteria for the payment IIRC) I got the €150.


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## ClubMan (8 Jun 2007)

Got my €150 lodged to the account today!


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## ClubMan (31 Oct 2007)

_UB _are doing this offer again. It's a handy/easy €150. I opened an account, didn't switch from my main _PTSB _current account, declined the offer of any cards involving _SD _payments and mandated my salary to be paid and used online banking to transfer it back over to my main _PTSB _account and got the €150. Thereafter I mandated my salary to be paid back to my _PTSB _account and don't really use the _UB _account at all now and will probably close it at some point.


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## MugsGame (31 Oct 2007)

> It's a handy/easy €150.



How long did it take to assemble your documentation, fill out the forms, wait in the branch for processing, change your salary mandate, and then do the necessary transfers? Did you have to take time off work to visit them?


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## ClubMan (31 Oct 2007)

MugsGame said:


> How long did it take to assemble your documentation, fill out the forms, wait in the branch for processing, change your salary mandate, and then do the necessary transfers?


Not long - probably an hour all told.


> Did you have to take time off work to visit them?


No - I dropped in on the way to work one morning.


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## DrMoriarty (31 Oct 2007)

I sincerely hope you didn't do any of this on AAM time?


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## Slim (5 Nov 2007)

The conditions are now tighter.
"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 Ulster Bank Current Account on a weekly/ fortnightly / monthly basis depending on the frequency the customer is paid. "

There was also a condition(not in the T&Cs) that said you have to make ATM transactions on the account. Hence I ordered an ATM card. But now that I see the T&Cs on the website! I will call back.

Slim


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## ClubMan (5 Nov 2007)

Thanks _Slim _- wasn't aware of any change in their T&Cs.


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## Slim (7 Nov 2007)

Better again:

Ulster Bank have refused to accept Mrs S's application for the "Switch" on the basis that she is not actually switching an account.[She has no salary mandate at the moment and would be willing to open an Ulster Bank account and mandate the salary]. This is despite their helpline stating last Friday that merely opening the account and mandating the salary would qualify her! They have also informed me that I would have to switch all SOs and DDs to qualify for the €150. Still thinking about it!

Slim


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## ClubMan (7 Nov 2007)

I guess they are tightening up on the qualifying conditions so!


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## DrMoriarty (7 Nov 2007)

Slim said:


> customers
> ...must use their new Current Account as their "main account" for a period of 18 months from the date of account-opening.
> [...] have to switch all SOs and DDs to qualify for the €150.


Wow, that's quite a row back from the original Ts & Cs.

Terrible to think of consumers taking advantage of the poor banks like that!


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## marfsmal (8 Nov 2007)

Is this still being offered?


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## ClubMan (8 Nov 2007)

Er, [broken link removed]...


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## smurfette (28 Nov 2007)

as a former employee of UB,  the only term is that your salary must be manadated

you dont need to switch...this was originally an offer for a month (march) that has been rolled out.


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## Slim (29 Nov 2007)

> as a former employee of UB, the only term is that your salary must be manadated
> 
> you dont need to switch...this was originally an offer for a month (march) that has been rolled out.


 
smurfette

I can assure you I argued the point and had it checked and have a letter "thanking" me for bringing the misinformation from their helpline to their attention. T&Cs are tighter now.

Slim


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## sfag (29 Nov 2007)

I wish I could recommend the Ulster Bank but the level of service seems to have gone down since further integration with the parent bank in England.

The free banking thing comes at a cost of increased charges and no mercy if you havent got enough to pay a dd - the day before its due.
Lets say you know you have a dd coming out on a certain day. Even if you place funds in your account on that day the dd's will still bounce because UB insist the money must be in the account the day before the dd is due. If credits and debits hit your account on the same day UB now process the debits before the credits thus hoping something will bounce. 

With regard to applying for a credit card, loan or overdraft - everything goes to be processed in England where they take for ever, correspond by post only, dont talk to your own branch, write back asking for stupid things, and eventually lose everything. 

Sometimes there is more to chosing a bank then a quick cash offer.


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## ClubMan (7 Jan 2008)

_UB _are relaunching the "free" €150 offer again tomorrow until March 31st.


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## askU (7 Jan 2008)

> Originally Posted by *ClubMan* http://www.askaboutmoney.com/showthread.php?p=425414#post425414
> _So - did anybody get their €150 yet?_


 
Yes i did but they deducted €13 for 'switching'


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## ClubMan (7 Jan 2008)

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.


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## askU (7 Jan 2008)

I think its not right that they are advertising it as '€150 to switch your current account' but charging €13 for switching.


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## ClubMan (7 Jan 2008)

What do the terms & conditions and additional bumpf say?


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## askU (7 Jan 2008)

ClubMan said:


> What do the terms & conditions and additional bumpf say?


 
Nothing about a charge
*Terms & conditions of €150 offer*


This offer is available from Ulster Bank Ireland Limited in the Republic of Ireland (hereafter “Ulster Bank”).
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.
The offer is not available to existing Ulster Bank current account customers; it is not applicable to new student current accounts.
Each customer may avail of this offer in respect of one Current Account only.
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.
Ulster Bank will credit €150 into new qualifying Current Accounts on or before 2nd May 2008.
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.
All applications to open a Current Account are subject to acceptance by Ulster Bank; the relevant Current Account terms and conditions will apply.
This offer is subject to change; it may be withdrawn by Ulster Bank at any time.


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## ClubMan (7 Jan 2008)

Maybe the tariff of charges booklet has something about the switching charge so?


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## ClubMan (8 Jan 2008)

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.


I don't think that this applied to previous offers. Anybody know?


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## garythegreat (8 Jan 2008)

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!


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## ClubMan (9 Jan 2008)

garythegreat said:


> Do i have to close my old account?


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)


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)


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.


That's what I did for a while alright.


> Is this worth the hassle of it all, is it a lot of hassle?


It's a little hassle but not much. Is it worth €150? Your call.


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## garythegreat (9 Jan 2008)

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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## irishpancake (9 Jan 2008)

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?



Just know that [broken link removed] apply, as discussed previously. 

The offer is valid until 21st March, apparently.


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## ClubMan (9 Jan 2008)

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?


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.


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## Miles (9 Jan 2008)

garythegreat said:


> How are Ulster bank as a bank?



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.


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## cork (9 Jan 2008)

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.


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## garythegreat (11 Jan 2008)

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!"


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## ClubMan (11 Jan 2008)

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.


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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