I have an eSavings ePlus account with Ulster Bank. However I no longer have over £15000 (which is the minimum amount in order to get interest) in savings in the account. I probably won't have this amount for another 2 years. Can I close the account now and reopen it in two years time and will I get the introductory bonus? Or will I be prohibited from opening another one and should just keep the existing one I have open? I have nothing in it at the moment. What little I do have is in an ordinary eSavings account. The question is probably academic anyway as hopefully by 2 years time they'll be something better. Thanks for any help
Strictly speaking no. It needs to be "new money". If you manage to persuade Ulster Bank they might let you.
Alternatively, go for the below account with a higher rate.
[broken link removed] (Discuss) 3.30% on €2,000 minimum to €2,000,000 maximum.
Note 1: Instant access.
Note 2: NB: Interest is reduced if more than 6 withdrawals are made a year (Apr-Mar).
Deposit Protection: UK Financial Services Compensation Scheme
Just a note on the UB esavings plus account:
There are restrictions on this account which make it very awkward if you are depositing a large amount of money and you need to make big withdrawals.
1) you cannot withdraw more than (i think) 15k/day for security reasons.
2) if you make a withdrawal in a calendar month, you wont receive interest for that month on the whole amount deposited.
3) to withdraw a large amount you need to send a letter to UB stating what you need and they will post you out a cheque (or wire it via ebanking after the letter is processed)
If you have a large amount of money and deposit it here, it is very messy to try to withdraw a large portion of it, as you will end up losing a month's interest, or waiting on a cheque to be issued after you have sent UB a withdrawal letter!!
There are much better ebanking account out there.