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Ulster Bank current accounts review
Looking for a new current account? Find out whether Ulster Bank could help.
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Depending on what you’re after, you can choose from a wide range of current accounts at Ulster Bank. Find out more in our review.
Compare Ulster Bank current accounts
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Types of current accounts from Ulster 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
UFirst Gold account
Student account
Adapt account
Foundation account
Private account
UFirst Private account
Business bank account
Startup business account
Community bank account
Foreign currency 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.
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.
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.
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.
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.
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.
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.
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 an £8 quarterly fee for the account but you’ll also have access to fee-free accounting software from FreeAgent.
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.
An account for not-for-profit organisations. You can enjoy fee-free banking for 18 or 24 months if your business has deemed charity status. You can also access free online accounting software.
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 a major bank such as Ulster Bank 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
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
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