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.
Does UB offer free tranactions on this 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.
It says clearly: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?
But then adds: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.
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?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!
Wonder if I approach PTSB will they pay me €150 to stay?
According to whom?
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.
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.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.
- Only one cash incentive per new account.
- Offer available to all customers meeting the above criteria who open their account between 26th February 2007 and 31st March 2007.
- Eligible customers will have €150 credited to their account on or before April 30th 2007.
- All current account applications are subject to acceptance by Ulster Bank; the relevant Ulster Bank current account terms and conditions will apply.
- Customers will not be entitled to avail of this offer if Ulster Bank deems, in its discretion, that the relevant account(s) has not been opened or used in accordance with these terms and conditions.
- This offer is subject to change; it may be withdrawn at any time.
- Offer not available to employees of the Ulster Bank Group of companies
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