Ulster Bank business bank account comparison and review

There are several business accounts on offer at Ulster Bank for companies that are registered in Northern Ireland.

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Ulster Bank

Ulster Bank update

As of 2021, Ulster Bank has shut down its entire branch network in the Republic of Ireland.

Ulster is closing its accounts for customers in the Republic of Ireland. The bank has confirmed that it is no longer accepting business account applications, any existing business accounts are being transferred to other banks and financial institutions.

This does not impact the bank’s separate operations in Northern Ireland.

If you are looking to open a new UK business account right now, then compare Ulster Bank alternatives on our business banking page to see what other providers are offering.

If you run a business in Northern Ireland and you’re looking to open a business account, then Ulster Bank may be an option worth exploring. Ulster Bank caters to firms with a range of turnovers and those operating in foreign currencies. Here’s everything you need to know about what the bank can offer business customers.

Compare Ulster Bank’s business accounts

Name Product Account fee Bank transfers Requires credit check Arranged overdraft Accounting integrations Account management Key benefits Business bottom txt Link
Business Current Account - Not for Profit Account
£8 per quarter
Free
FreeAgent
Branch, online, app & phone
View details
Business Current Account
£8 per quarter
Free
FreeAgent
Branch, online, app & phone
View details
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What is Ulster Bank?

Ulster Bank is part of the wider Natwest Group of companies. Ulster Bank operates across Northern Ireland, where it has more than 90 branches in total. It offers both personal banking and business banking services.

If you’re interested in opening a business account with Ulster Bank, it’s important to note that your business must be registered in either Northern Ireland, and the business owners must be residing in either the UK or Northern Ireland.

What types of business account does Ulster Bank offer?

There are four types of business account available at Ulster Bank. These are:

  • Business Bank Account
  • Startup Bank Account
  • Community Account (for Charities and clubs)
  • Foreign Currency Account

What are the features of Ulster Bank’s business accounts?

Ulster Bank’s different business accounts come with the following features:

Business Bank Account

  • For more established businesses
  • Online and mobile banking
  • Dedicated relationship manager
  • Business Visa debit card
  • Business cheque book
  • Flexible borrowing options
  • International payments
  • Free access to FreeAgent accounting software
  • Startup Bank Account

    • For new businesses trading less than 12 months, or which have a projected or actual annual turnover of under £1 million
    • Free business banking for the first 18 months
    • Online and mobile banking
    • Business Visa debit card

    Community Account

    • For charities, clubs, societies and social enterprises
    • Free business banking for the first 24 months if annual turnover is less than £250,000

    Foreign Currency Account

    • For businesses that earn or spend money abroad
    • Must already have a Business Bank Account with Ulster Bank to open one of these
    • Accounts available in major currencies
    • International payments available in major currencies
    • Overdraft facilities available in major currencies
    • Online banking
    • Euro cheque book for euro currency accounts

    How can I contact Ulster Bank?

    If you have a query about your account, Ulster Bank can be contacted by phone on 0345 366 5592 (from Great Britain or Northern Ireland).

    Pros and cons of Ulster Bank business banking

    Pros

    • Range of business accounts to choose from
    • Free banking periods with some of the business accounts
    • Free and discounted access to online accounting software
    • Strong focus on international banking

    Cons

    • Not available to businesses that are not registered in Northern Ireland

    Customer service information for Ulster Bank

    Email support
    Telephone support
    In-app or live chat
    Contact form
    Branch support

    Bottom line

    Ulster Bank has a wide range of business accounts on offer, that cater for established businesses, startups, charities and companies that trade across international borders. But although it’s part of the wider RBS banking group, Ulster Bank’s business accounts are only available to businesses that are registered in Northern Ireland.

    Get started by visiting Ulster Bank’s website and sign up for an account. If you have read this review and decided that Ulster Bank’s account is not for you, you can also compare other business bank accounts on the market.

    We show offers we can track - that's not every product on the market...yet. Unless we've said otherwise, products are in no particular order. The terms "best", "top", "cheap" (and variations of these) aren't ratings, though we always explain what's great about a product when we highlight it. This is subject to our terms of use. When you make major financial decisions, consider getting independent financial advice. Always consider your own circumstances when you compare products so you get what's right for you. Most of the data in Finder's comparison tables has the source: Moneyfacts Group PLC. In other cases, Finder has sourced data directly from providers.
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Michelle Stevens is a deputy editor at Finder, specialising in banking, finance, credit and mortgages. She has a journalism degree from the University of Sheffield and has been a journalist for 15 years, writing on topics including fintech, payment systems and retail. In her spare time, Michelle likes to travel, explore new foodie experiences and attempt to improve her own culinary skills. See full bio

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