Depending on what you’re after, you can choose from a wide range of current accounts at Ulster Bank. Ulster Bank is part of the NatWest Group but operates in Northern Ireland. As a result, you’ll see similar products to NatWest and Royal Bank of Scotland on offer. Like other large banks, Ulster Bank regularly offers payments usually between £125-£150 to customers who move their current account over to the bank.
Before comparing your options, it’s worth thinking about the account features that are most important to you. Below is an overview of the current accounts from Ulster Bank:
Select account
An everyday bank account with no monthly fee that can be managed via the mobile app. The account has an arranged overdraft and offers an emergency cash service, allowing you to withdraw money from Ulster Bank ATMs if you lose your card.
ufirstgold account
A packaged account for existing current account holders that offers a range of benefits and an overdraft. Perks of the account include worldwide travel insurance, mobile phone insurance and cashback on concerts, shows and sporting events. In return you’ll need to pay a monthly fee.
Student account
An account for full-time, third level students with a course duration of at least 2 years and no more than 5 years. The account has a £1,000 interest-free arranged overdraft, which rises to £3,000 if you’re studying medicine, dentistry, law, accountancy, physiotherapy or veterinary science. Via the mobile app, you can also withdraw up to £130 per day from any Ulster Bank, Tesco, RBS or NatWest cash machine without your card.
Adapt account
A straightforward bank account for 11 to 17 year olds with no monthly fee. It comes with a contactless Visa debit card and allows you to check your balance with Ulster Bank’s mobile app. The account also works with Google Pay and Apple Pay.
Foundation account
A basic account designed to help you manage your money. There’s no overdraft facility, but the account comes with a Visa debit card to withdraw cash and make purchases online. You can pay your bills via direct debit or standing order and access your funds whenever you need to.
Premier account
An exclusive account for those with a sole annual income of £75,000 or joint income of £100,000 paid into the account, or savings and investments of at least £100,000. A Premier Banking Manager will assist you with the opening of accounts and help with tax issues. You’ll also get access to preferential financial rates and services.
ufirst Premier account
This offers all the benefits of the Private account but you can also enjoy worldwide travel insurance, mobile phone insurance, worldwide airport lounge access and cashback on concerts, shows and sporting events. In return you will need to pay a monthly fee. Again, you’ll need a sole annual income of £75,000 or joint income of £100,000 paid into the account, or savings and investments of at least £100,000.
Business bank account
An everyday bank account for your business with a dedicated relationship manager and access to your account via Internet, mobile or telephone banking. There’s a quarterly fee for the account but you’ll also have access to fee-free accounting software from FreeAgent.
Startup business account
A straightforward business account for your startup. Your business must be registered in Northern Ireland and must have been trading for less than 12 months and have a projected or existing annual turnover of under £1 million.
Community bank account
An account for not-for-profit organisations. You can enjoy fee-free banking for up to 2 years if your business has deemed charity status. You can also access free online accounting software.
Foreign currency account
A business account to help you make and receive payments in foreign currency simply and safely. You can make payments across the globe in a variety of currencies, and standard transaction charges apply.
Benefits of opening an account with Ulster Bank
Overdraft options. Many accounts come with an overdraft facility and in the case of the student account, the first £1,000 is interest-free.
Extra perks. Provided you’re happy to pay a fee, some accounts offer benefits such as worldwide travel insurance, mobile phone insurance and cashback.
Mobile banking app. The bank offers a nifty mobile app that allows you to withdraw cash from its ATMs and make payments to family and friends using just their mobile number. It can also categorise your spending to help you budget better and you can use fingerprint and facial recognition to log in.
A wide range of related products. One of the advantages of banking with Ulster Bank, as part of the NatWest Group, is you can have all your money in one place, from your current account to your mortgage.
How to open an account
The easiest way to apply for an Ulster Bank account is online. It’s a good idea to have a passport or a Northern Ireland/UK/Republic of Ireland driving licence to hand, as well as a credit or debit card.
If you don’t have these available you can still apply online, but you’ll be asked to provide other forms of ID and proof of address.
Is it safe?
Yes – if you bank with Ulster Bank, eligible deposits will be protected under the Financial Services Compensation Scheme (FSCS). This means up to £85,000 per person per financial institution is protected in the event the bank goes bust.
Pros and cons
Pros
Arranged overdraft facilities on most accounts
Extra perks such as travel insurance included on some accounts
FSCS protection
Access to mobile app to help track spending
Cons
Monthly fee applies to some accounts
Most overdrafts charge interest
No interest paid on in-credit balances
Customer service information for Ulster Bank
Email support
Telephone support
In-app or live chat
Contact form
Branch support
Our verdict
Ulster Bank offers a wide range of bank accounts and there’s something for almost everyone. Whether you’re after a basic bank account, an account for your child or student, a business account or you want a more exclusive account with extra perks, there’s a good chance you’ll find something to suit you.
Frequently asked questions
Yes, you can set up a joint bank account with a range of current accounts, excluding student and child accounts.
At the moment, none of the current accounts from Ulster Bank pay interest.
Anytime Banking is Internet banking at Ulster Bank. You can use it to set up weekly or monthly text alerts, make payments, set up standing orders and direct debits, order a new debit or credit card and view and download bank statements from the past 7 years.
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To make sure you get accurate and helpful information, this guide has been edited by Kate Steere as part of our fact-checking process.
Rachel Wait is a freelance journalist and has been writing about personal finance for more than a decade, covering everything from insurance to mortgages. She has written for a range of personal finance websites and national newspapers, including The Observer, The Mail on Sunday, The Sun and the Evening Standard. Rachel is a keen baker in her spare time. See full bio
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