Ulster Bank - trying to pay mortgage fortnightly

[Eithneangela]

We took a tracker mortgage out with Ulster Bank 9 years ago and have been paying by monthly direct debit since. We now wish to pay fortnightly (in line with income) and rang the Bank to discuss. First, we were told to ring the Direct Debit team in Sandyford to discuss the matter. There, we were told that we would have to go to our branch to set up fortnightly standing orders as their systems cannot handle fortnightly Direct Debits. We visited the branch yesterday who told us that their systems would not allow them to set up fortnightly Standing Orders (something about Suspense Accounts?). So now we're between the Devil in Sandyford and the deep blue sea of the bank in Dundrum. Has anybody else got experience of trying to do this with Ulster Bank?

 

[thedaddyman]

Ulster Bank systems are not the most adaptable for things that are out of the norm. If they can't handle a fortnightly DD for your mortgage, then could you not open up a standard saving's type account with them, move your money into that on a fortnightly basis and change your monthly mortgage DD to the new account? You'd just need to watch the days to ensure the money is gone in on both occasions per month before it goes out to your mortgage

 

[Monbretia]

Standing order or direct debit? Highly unlikely you could set up a fortnightly direct debit but a standing order should work. Make sure you are making it clear to them it is a standing order you want, some bank staff don't even know the difference between the two.

 

[Brendan Burgess]

We visited the branch yesterday who told us that their systems would not allow them to set up fortnightly Standing Orders

Hi Eithne

I suspect that their systems do not allow them set up fortnightly standing orders.

However, you could set up two separate monthly standing orders

A pays €1,000 on the 1st of each month
B pays €1,000 on the 16th of each month

It would be twice a month, rather than fortnightly, but I presume you can handle that?

Brendan

 

[Monbretia]

UB can do weekly/fortnightly standing orders, it's the terminology that is confusing someone somewhere. Specify you want a standing order NOT a direct debit.

 

[Eithneangela]

Hi Eithne

I suspect that their systems do not allow them set up fortnightly standing orders.

However, you could set up two separate monthly standing orders

A pays €1,000 on the 1st of each month
B pays €1,000 on the 16th of each month

It would be twice a month, rather than fortnightly, but I presume you can handle that?

Brendan

Good suggestion, Brendan. I'll be paying the branch another visit next week. Thank you.

 

[Eithneangela]

UB can do weekly/fortnightly standing orders, it's the terminology that is confusing someone somewhere. Specify you want a standing order NOT a direct debit.

I clearly requested Standing Order. Their Branch and Mortgage systems have problems communicating - and they have no problem stating this! Customer service?

 

[Monbretia]

Not enough experienced people left I think myself

 

[Joe90]

Would you try doing a manual transfer using their Ulster Bank Anytime online banking system? We pay our PTSB mortgage every fortnight using Banking 365 from a BOI account. All I had to do was set up the IBAN and 8-digit account numbers for the mortgage, and we pay half the mortgage every every two weeks. PTSB were resistant to it, and threatened the usual nonsense when we cancelled the direct debit, but they haven't requested a change to this 2 years down the road. I'm assuming UB has a similar payment platform to that of B365.
And don't get fobbed off saying you cant set up a fortnightly standing order. It's the olders and simplest for of automated transfer....

 

[Eithneangela]

Would you try doing a manual transfer using their Ulster Bank Anytime online banking system? We pay our PTSB mortgage every fortnight using Banking 365 from a BOI account. All I had to do was set up the IBAN and 8-digit account numbers for the mortgage, and we pay half the mortgage every every two weeks. PTSB were resistant to it, and threatened the usual nonsense when we cancelled the direct debit, but they haven't requested a change to this 2 years down the road. I'm assuming UB has a similar payment platform to that of B365.
And don't get fobbed off saying you cant set up a fortnightly standing order. It's the olders and simplest for of automated transfer....

Update on my original post. Got a call from my Ulster Bank Branch today to say that they could now in fact set up the fortnightly Standing Orders to pay the mortgage, and also that they would cancel the current monthly Direct Debit. This contradicts the points made by Ulster Bank Mortgage Dept in Sandyford who stated they were the only ones who could cancel mortgage Direct Debits. Talk about operating in silos! In any event, we were very pleased by the Branch's offer to pay for the cost of our trip to the Branch (Wexford to Dublin) to discuss the problem last week.

So, good result for us. Worth sticking to guns etc!