UB - Private Reserve or Direct Saver!

Thinking of moving my NR savings to UB as all ready have current a/c with them.

I basically just want instant access, internet access and a €15k min deposit is ok.

What is a 'private' reserve a/c
Is it different from a 'personal' customer a/c

Which of these two a/c's is preferable, I'm leaning towards the Private Reserve.


Ulster Bank: Private Reserve
2.99% on €15,000+

• Instant access.
• Deposit Protection: Irish Deposit Protection Scheme

[broken link removed]
3.04% for first year on €15,000 minimum to €1m maximum
2.02% after first year on €15,000 minimum to €1m maximum
0.01% on €1 to €15,000

• Instant access.
• Interest part paid monthly with the "bonus" at the end of the year.
• Rate includes bonus if the account is kept open for one year. You will not get the 1% bonus if the balance drops below 15,000 EUR during the year.
• If balance falls below €15,000 the rate automatically changes to 0.01%.
• Transfers from this account have a daily limit of €13,000 per day.
• No Interest is paid during any month where a withdrawal takes place.
• No bonus is paid on year two onwards.
• Deposit Protection: Irish Deposit Protection Scheme

Private Reserve is not available for branch opening. It must be opened in Ulster HQ.

Private Reserve requires you to open a Ulster Private Current account which will incur fees.

I have added notes in the best buys thread to better explain the Private Reserve account.

thanks Ciaran.