Instant access - withdraw your funds in branch or, when you register for Anytime Banking you can access your funds online or over the telephone.*
The second point on their page states that you can save between 1 and 1000 per SO but it doesn't say anything about whether you can put more than that in one lump online. Interesting, so I wonder if I could just lob in 13k daily max in one go and then get 4% on all of this ?it is a super account as it will accept lodgments made online of more than €1000 at a time.
The second point on their page states that you can save between 1 and 1000 per SO but it doesn't say anything about whether you can put more than that in one lump online. Interesting, so I wonder if I could just lob in 13k daily max in one go and then get 4% on all of this ?
6.1 You must set up a Standing Order to credit the Account monthly. The Standing Order must be for not less than €1 and not more than €1,000. The Standing Order can be increased or decreased within these limits.
6.2 Lump sum cash, cheque or other lodgements are not permitted into the Account.
This seems to clearly rule out lump sum lodgements of more than €1,000. It is also stated that:7.5 In the event that a monthly deposit exceeds the monthly limit of €1000, we may request you to transfer the excess funds into another Ulster Bank Account.
6.6 You may not hold more than one Special Interest Deposit Account at any time (whether in your sole name or in joint names).
we may request you to transfer the excess funds into another Ulster Bank Account
That's possible. But what worries me is that they might take no action until it comes time to pay interest, and then refuse to pay any interest on lump sums that exceed the maximum permitted.Ulster may decide it is not worth the hassle to pursue those that have circumvented the purpose of the regular saver account.
I hope you're right. But I've recently received a statement of my account in the post and it contains no interest figure and no promises about the amount that will be paid. When I bring up an online statement it simply states "full details of interest to be applied available on request." So I'm not yet reassured.Regular statements issued between now and October will indicate the interest payable on the account for the period covering by the statement ...to do anything other than honour interest payments on funds held in the SID would be very surprising.
There is still a few hundred euro at stake...there will be very little involved as the 4% caps out at €15000 per account
What the terms and conditions clearly state is that ad hoc lump sums are not permitted. So there does seem to be a flaw in their online system. There's nothing in the T&C's that I can find about a reduced rate applying, but I guess if you are violating the terms and conditions they can apply any interest rate they like.UB are probably aware that you can transfer online over the 1k and just the interest payable will be at the 0.1% rate or whatever as more or less clearly stated