UBL UK offers a range of banking products for its customers, including savings accounts, buy-to-let mortgages and current accounts.
Compare UBL UK current accounts
Types of current accounts from UBL
There are 2 current accounts to choose from with UBL, the ACE Current Account and the Ameen Islamic Current Account.
ACE Current Account
Ameen Islamic Current Account
This is a free, everyday bank account, as long as you stay in credit. The account does not offer an arranged overdraft. If you do go into an overdraft, you will be charged an unapproved overdraft fee of £50 for each transaction that you make on your account, and the debt balance will be subject to unapproved interest charges.
You can use your account to send money to friends and family in Pakistan and manage your account by Internet or mobile banking or in a branch. You will also benefit from a named Community Relationship Manager.
A current account that is managed in accordance with Shariah principles. This means no interest is paid or charged on the account and there is no overdraft facility. Again, you can use your account to send money to Pakistan.
Benefits of opening an account with UBL
- No monthly account fees. There are no monthly maintenance fees for either current account.
- Facility to send money to Pakistan. Customers can easily send money to family and friends in Pakistan by using Internet or mobile banking or by going in to a branch.
- Islamic banking options. If you wish to, you can choose an account managed in accordance with Shariah principles.
- Multiple ways to bank. You can manage your account via Internet banking, mobile banking or at a branch.
How to open an account
To be eligible for an account, you must be aged 18 or over, and you must be able to provide proof of identity, such as a passport, and proof of address, such as a utility bill or bank statement.
You can open the account by completing an application form and returning it to a branch, or by sending it by post. You can also open an account via the mobile app.
Is UBL safe?
Yes, UBL is a trading name of United National Bank Limited which is regulated by the Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA). All eligible deposits of up to £85,000 per person are protected under the Financial Services Compensation Scheme in the event that the bank ever went bust.
Pros and cons of UBL
Pros
- No monthly account fees
- Multiple ways to bank
- Facility to send money to Pakistan
- FSCS protection
- Islamic banking options available
Cons
- No arranged overdrafts
- No interest paid on in-credit balances
- UBL has a limited number of branches
Customer service information for UBL
Email support | |
---|---|
Telephone support | |
In-app or live chat | |
Contact form | |
Branch support |
Our verdict
UBL’s current accounts are likely to appeal if you want to send money to friends or family in Pakistan, whether you’re looking for an everyday bank account or you want to bank according to Shariah law. Although there are no arranged overdraft facilities available, there are also no monthly maintenance fees and you can rest assured your money will be protected by the FSCS.
Frequently asked questions
More guides on Finder
-
Best day trading stocks for 2024
Find out how to spot some of the best day trading stocks available in the UK and abroad, along with tips for managing your investment portfolio on a day-to-day basis.
-
Wealthify vs Vanguard
Vanguard and Wealthify are both investment platforms with a lot to offer. We compare their fees, features, account types and more – side by side in Wealthify vs Vanguard.
-
eToro vs Robinhood UK
Robinhood and eToro are both investment platforms with a lot to offer. We compare their fees, features, account types and more – side by side in eToro vs Robinhood UK.
-
Hilton Honors Debit Card review: Is the high annual fee worth it?
If you stay at Hilton regularly and pay for breakfast, you’ll find good value in the Plus card. But the annual fees on both cards are quite steep if you don’t.
-
9 Best trading platforms in the UK
We’ve tested, analysed and scored trading platforms to find the 10 best trading platforms in the UK, who they’re best for and the pros and cons.
-
AJ Bell vs interactive investor (ii)
AJ Bell and interactive investor (ii) are both investment platforms with a lot to offer. We compare their features, fees, account types and more – side by side in AJ Bell vs ii.
-
Open banking, fraud, AI and more at FinTech LIVE 2024
The key themes for FinTech LIVE have been revealed ahead of the conference next week, including open banking, fraud, AI and more.
-
Trading 212 vs interactive investor (ii)
Trading 212 and interactive investor (ii) are both investment platforms with a lot to offer. We compare their features, fees, account types and more – side by side in Trading 212 vs ii.
-
Ampere review: The business account, not the unit of electric current
Ampere could be a useful option for businesses that want to pay a single monthly fee and then be able to budget accordingly.
-
interactive investor (ii) vs Vanguard
Vanguard and interactive investor (ii) are both investment platforms with a lot to offer. We compare their features, fees, account types and more – side by side in interactive investor (ii) vs Vanguard UK.