Northern resident with Ulster Bank account in Republic

Hi all...long term reader, first time poster!!

Looking for some guidance as to what options might be available to someone with an Ulster bank deposit account in the south but who is now resident in the north. My mother in law has a long term deposit account with Ulster that was opened many moons ago when she was resident in the state. She then married, moved across the border and now the account is obviously being closed.

She has no short term financial needs but there is approx €40k built up in this. Could she look to have this simply transferred to Ulster bank account in the north? Would there be tax or FX charges involved which could be costly? Opening an account in the south as a non resident looks awkward as well but really she just wants easy access to these funds if and when she needs them.

Thanks in advance for any guidance!

You could use a digital bank or have a euro account opened in the North.

If there's no real need for Euro to be held, might be best to transfer it to a sterling deposit account. Shouldn't be any tax issue and you can negotiate an exchange rate that is closer to the mid market rate, or use a service like Transfermate or Wise who will give you excellent rates.

Thanks a lot for the advice Peemac!