Ulster Bank Regular Saver changes

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Ulster Bank have made plenty of changes to their regular saver products.

This needs a new thread due to all the changes and the popularity of this product.

UB have removed this product:

Ulster Bank: Regular Saver
3.50% up to €100,000.
Note 1: Regular lodgements required (standing order only)
Note 2: Minimum €1 a month; Maximum €1,000.
Note 3: Interest paid on first working day of each quarter.
Note 4: Maximum balance €100,000.
Note 5: Online access to account.
Note 6: Optional ATM card offered.

UB have launched this product:

Ulster Bank: Special Interest Deposit Account.
4.00% up to €15,000.
1.50% from €15,000 to €100,000.
Note 1: Regular lodgements required (standing order only)
Note 2: Minimum €1 a month; Maximum €1,000.
Note 3: Interest paid annually each October.
Note 4: Online access to account.
Note 5: Withdrawals are limited to €13,000 per day to non Ulster Bank accounts.

Note the changes
1) Rate increased.
2) Cap for high rate dropped from 100K to 15K.
3) Interest changed from quarterly to annually.

If you have the old account, the rate is likely to drop shortly, possibly to 0.01% so you may have to consider switching/moving your lump sum shortly.
 
*phew* CiaranT you gave me a fright!!! I thought someone else had taken over your much sought after and highly paid job of keeping money matters updated for us. But I see from another post that it's only Fungus's user's name that has changed. :D My poor ticker can't take that kind of fright!!!!!
these kind of shocks.

Cheers

Justsally
 
I guess I can continue saving on the Regular Saver until they drop the rate?

Could I open the new account and (while the rate isn't dropped yet) save 2000 Euro per month?
 
I just got off the phone to Ulster bank ( Emma in the call centre) and was advised of the following. The regular savers account has been closed to new customers for the past two months. The interest rate is hasn't changed recently and while can't predict the variable rate she hadn't heard about a planned drop in the rate. You can't transfer lump sums into the special interest deposit account you can only lodge regular amounts between 1 euro and 1000 a month. She said just to keep the regular savers account and keep an eye on the interest rate as usual and just keep saving.
 
What is the rate of interest on the old regular saver at the moment?
 
while can't predict the variable rate she hadn't heard about a planned drop in the rate. You can't transfer lump sums into the special interest deposit account you can only lodge regular amounts between 1 euro and 1000 a month. She said just to keep the regular savers account and keep an eye on the interest rate as usual and just keep saving.

Waffle by a vested interest. Ulster Bank have made a strategic decision to maximise profits by dropping the rate on an existing product and offering a sweetener to new customers. The rate will drop.
 
Ulster Bank had an advertisement in The Irish Times today.

They have reduced the interest payment on their old Regular Saver account by 0.50% to 3.00%.

I expect more decreases.
 
I had a first active regular saver, when it moved UB told me that the terms would remain the same. Anyone know if the rate drop applies to this account. Did my FA account become a UB regular saver with all its terms and conditions
 
Yep the old First Active Regular Saver and the Ulster Bank Regular Saver are identical.
Withdrew all funds from both and cancelled my SO's yesterday - cheers Ciaran. Those were the days 7.15% from First Active!! Oh well all good things come to an end.
 
Ulster Bank had an advertisement in The Irish Times today.

They have reduced the interest payment on their old Regular Saver account by 0.50% to 3.00%.

I expect more decreases.

Still says 3.5% on their website! Did you spot a start date for the reduction?

Guess it's An Post for me!
 
Rang Ulster Bank yesterday and said "there are no plans to reduce regular saver interest rate (currently 3.47%)". He knew nothing about ad in newspaper last week re rate decrease. :confused:
 
Anyone know what the latest rate is for this regular saver account?.. I dont see it on the Ulster bank page.
 
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