re:savings in ulster bank

Hello there,
I have 17,000 euro in a current account in ulster bank. I am now going to put it into E Savings plus at same bank. Is this the best idea for me? More to the point, are savings with Ulster bank safe? Thanks, I'm totally clueless.

Re: savings in ulster bank

teachergirl said:

Hello there,
I have 17,000 euro in a current account in ulster bank.

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Get it out of there. It is earning zero percent interest.

teachergirl said:

I am now going to put it into E Savings plus at same bank. Is this the best idea for me?

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No. According to [broken link removed] you will earn 0.01% on 0 - 14,999 EUR with Ulster eSave Plus.


Can you lock the money (put it in a term deposit) for a period of time or do you need instant access?

Re: savings in ulster bank

IF you put 17K into e-savings you will get currently 5.5% on the full amount. Have checked this out with them. So you don't get .01% up to 14,999 if your balance is 15k+.

Re: savings in ulster bank

crabbybear said:

IF you put 17K into e-savings you will get currently 5.5% on the full amount. Have checked this out with them. So you don't get .01% up to 14,999 if your balance is 15k+.

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Fair Enough. Their website fails to make that clear.

Re: savings in ulster bank

Fungus, until I checked it out myself, I thought it was 0.01% to 14999. Alot of T&C's with this a/c.

Re: savings in ulster bank

But as mentioned in previous posts, make sure you read through the T&C's. There are penalties for withdrawing money in any particular month. Goes back to the point Fungus made, can you lock the money? If so you should be fine

Re: savings in ulster bank

Open up an esavings account (not esavings plus) immediately and you will get around 3.9% and will be able to transfer in and out of current account if and as needed. The esavings plus is a higher interest rate but you will lose a months interest of you take out money during the month. So I would stick with the safe bet of the ordinary online one unless you are confident that you can get your timing right all the time

Re: savings in ulster bank

teachergirl said:

Hello there,
I have 17,000 euro in a current account in ulster bank. I am now going to put it into E Savings plus at same bank. Is this the best idea for me? More to the point, are savings with Ulster bank safe? Thanks, I'm totally clueless.

Click to expand...

esavings account is a decent one, but keep an eye on the interest and make sure you dont withdraw at all if possible as they penalise you in that given month. Also keep an eye on these accounts as it might make sense to micro manage your accounts and reopen new accounts to get the best rate for your money as the .5% incentive expires after 6 months. Frustrating I know but might be worth the money if you have a considerable amount saved.

Re: savings in ulster bank

I would keep an eye on when this thread started also. 5.5% interest is a collectors items...