Ulster Bank to offer €150 to switch your current account

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,
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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!
 
...?
 
DrMoriarty said:
...?
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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!
 
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.
 
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.
 
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..
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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.
 
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
 
slightly off topic, what does the reference posted earlier re temporary closing of account BUPA/Quinn refer to?
Tks
 
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...
 
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!
 
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...
 
DrMoriarty said:
just open an account and transfer your salary payment to it.
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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.
 
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...
 
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!?
 
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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