I bank with Ulster Bank and its changing and not always for the better.
Since the UB introduced free bank charges they have upped their bounced DD charges (to 12.70) and have altered the date upon which your bank account needs to be in credit by one day prior to the DD date. So if your dd comes out on the 1st of the month the money better be in your account and cleared on the 31st of the previous month otherwise it will bounce.
Also if a withdrawal and a lodgment are scheduled for the same day as far as I can see they now systematically action the debit transaction first before the lodgement - therefore increasing the chances of somehthing bouncing. Can banks do this ?.
Overdraft interest now comes out monthly and not quarterly thus debiting your account more regularly.
My local branch service seems to be slipping too - very hard to get thru on the phone.
If you have a mortgage with them they offer only one day upon which the dd comes out and thats the 1st of the month - so if there is any delay in your payment it stands an increased chance of bouncing.
Finally can you really rely on the lack of transaction charges lasting for ever?.
Apart form that free banking is free whiles it lasts and they are 'agressive' (ie generous) lenders albiet being a bit beaucratic in the proccess and all of the above might not make them any worst than the others.
Any chance of a sticky thead listing all the less than obvious catches with banks offers?
Since the UB introduced free bank charges they have upped their bounced DD charges (to 12.70) and have altered the date upon which your bank account needs to be in credit by one day prior to the DD date. So if your dd comes out on the 1st of the month the money better be in your account and cleared on the 31st of the previous month otherwise it will bounce.
Also if a withdrawal and a lodgment are scheduled for the same day as far as I can see they now systematically action the debit transaction first before the lodgement - therefore increasing the chances of somehthing bouncing. Can banks do this ?.
Overdraft interest now comes out monthly and not quarterly thus debiting your account more regularly.
My local branch service seems to be slipping too - very hard to get thru on the phone.
If you have a mortgage with them they offer only one day upon which the dd comes out and thats the 1st of the month - so if there is any delay in your payment it stands an increased chance of bouncing.
Finally can you really rely on the lack of transaction charges lasting for ever?.
Apart form that free banking is free whiles it lasts and they are 'agressive' (ie generous) lenders albiet being a bit beaucratic in the proccess and all of the above might not make them any worst than the others.
Any chance of a sticky thead listing all the less than obvious catches with banks offers?