Opening Fixed Term Account. Ulster Bank.

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Laramie

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I wanted to open a Fixed Term Deposit Account in the Ulster Bank Blackrock and I was told that I had to make an appointment to do this. I asked if I could just take away the forms and then drop them back but I was told that this was not allowed as I had to be told the Terms and Conditions. Apparently people have been opening them and then trying to make withdrawals.
I explained that I have had a number of these in the past and know how they work but I was told that I still had to make an appointment. I already maintain other accounts in the branch so it is not a question of providing I.D.
Is this the norm in other banks?
 
Have not come across it before, it could be just that they want to get you in front of a customer advisor who can advise you to do something else ( ! ) but maybe I am a cynic...maybe Ulster Bank don't need the deposits....maybe somebody should let RBS and the UK taxpayer who foots the UB tab still that Ulster Bank are placing hurdles in front of customers who actually want to do more business with them.
 
Some banks insist on a meeting. Pain in the ass for those that don't need it.

Sometimes you can get out of it.
 
UB customer - first time in yonks (at least 40 years!) that I was able to transact stuff with frontline staff (close regular old savings account, open new one on new terms etc.). Used to have to make appointment, wait until the bank employee had finished coffee, chat etc. before deigning to see me. Maybe there's a little bit of sea-change. Can I suggest that you go to frontline staff and make your request, politely stating that you do not wish to make an appointment but want to transact your business immediately.
 
I have been waiting 3 weeks for a member of the business team to call me about opening a new current account. I am slowly losing the will to live....
 
That is the UB system, you have to meet an adviser (who by the way can't actually 'advise' you on anything) to open an account. There is no actual form to take away, they fill in all the details online while you are there and then print off the completed form for signing.

And yes there is need to be cynical, there are of course more options for capturing info that may lead to more sales opportunities if they can manage to get you face to face with an 'adviser' in an office.
 
I've had similar experience with PTSB. Went in to them to simply roll over a fixed term account and add a bit extra to it. They already have all my details(ID PRSI etc.) but it could not be done without making an appointment with a QFA. I told them I knew exactly what I was doing, having done same several times before, and also have my own personal financial adviser (family member). QFA would not be available till the middle of the following week and I was not prepared to travel 20 miles again to see her.

Eventually a lady appeared who could manage to squeeze us in. She wanted our full financial history, and it took a full hour to get through all the paperwork. We asked to sign a waiver but this was not acceptable
 
You must appreciate that banks must operate within the consumer protection regulations. The suitability of an account must be assessed before opening certain types of account. If somebody could open account with substantial amount of money and 4 months down the line it became apparent that it did not suit, it would've been handy to had that chat.... For most people it's straight forward but the regulations are designed to protect all customers and althought frustrating, banks must follow the rules.
 
The really annoying thing is that I am an ex banker, retired some years and probably know more about their product than they do.
 
When I did it with Ulster Bank two years ago the customer service rep checked whether they had any advisers available / not engaged. I was in luck and got shown to a private room where I stated what I wanted. Few minutes later she had the forms printed out and I filled them in, signed them and popped out to the counter desks to lodge the lodge the capital (was a bank draft from another bank).

Didn't take too long but I observed that they normally have appointments for this kind of thing and that I got lucky.

That said opening a fixed term with Nationwide UK was probably the easiest account opening I ever did (an existing customer with an easy access A/C + registered for telebanking). I simply called up and indicated I wanted to transfer amount X from my easy access A/C to open up a new fixed term account (I believe you can only do this if you're registered for telebanking). Within a few minutes the account was setup. About a week later I got confirmation in the post and the account appeared on my online profile. Quick, efficient and painless just the way I like it.:)
 
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