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Why is Ulster Bank introducing transaction fees?

Over the last few years we’ve seen changes in the way you bank with us. More customers are now using online and mobile applications for day to day banking.

Given the greater range of services we now offer our customers, we’ve reviewed our current account fees and charges and are making some changes. These changes bring us more in line with our competitors and introduce fees appropriate to how you bank with us.

What’s changing from 19 April 2019?

We'll be:

  • Changing the monthly maintenance fee from €4 to €2
  • Introducing transaction fees which will be applied monthly and a breakdown of those is outlined in the table below
  • Changing how the €3,000 minimum balance waiver works. So if you have at least €3,000 in your account at all times during the charging cycle, you won't be charged transaction fees and you'll pay a €2 monthly fee
  • Debiting transaction fees from your account automatically each month

The fees and charges will be debited from your account on 7th June 2019 and each month after that. You can find out more about our fees charging cycles by visiting our website. (opens in a new window)

If the amount of your monthly maintenance fee and transaction fees are €4 or more each month, we'll send you a pre-notification of charges statement to let you know how much you'll be charged before we apply any fees.

We charge transaction fees when we process transactions through your account.

Transaction Category Description
Contactless €0.01c (up to the value of €30)
  • Using a debit card for purchases in Euro within SEPA1 including Apple Pay and Google Pay transactions
Automated €0.20c
  • Direct debit/standing orders
  • Payments and transfers into your account via branch, mobile banking Anytime Internet Banking and telephone banking
  • Credit transfers via branch, mobile banking Anytime Internet Banking and telephone banking
Debit Card €0.20c
  • Using a debit card for purchases in Euro2 within SEPA
  • In app Apple Pay2 transactions
  • In app Google Pay2 transactions
  • Refunds and credits into your account via debit card
ATM Withdrawal €0.35c
  • Cash withdrawal3 in Euro within SEPA
  • Cash withdrawal at any Ulster Bank, RBS or NatWest branded cash machine (ATM)
In Branch/Counter €0.80c (Including An Post4 and Cash and Cheque lodgement machines)
  • Cash lodgements
  • Cheque withdrawals/lodgements
  • Credit transfers associated with Bank Giro Credit Payments
  • Payments into your account using a Bank Giro Credit slip
  • Bank draft lodgements
  • Withdrawals associated with bank drafts
  • Offset Money Manager Transfers

Charges for additional services may still apply, visit ulsterbank.ie/currentaccountfees.

1. The Single Euro Payments Area (SEPA) includes any countries within the European Economic Area (EEA) & Switzerland, San Marino & Monaco.
2. Euro debit card, In App Apple Pay and In App Google Pay transactions completed online, over the phone or via mail order, irrespective of whether the retailer is based inside SEPA or outside SEPA, will be charged this fee.
3. Including Emergency Cash & Get Cash transactions.
4. Cash and cheque lodgements must be lodged separately at An Post outlets and separate transaction fees will apply. Cash withdrawals cannot be undertaken at An Post outlets.

Why should I keep my account with Ulster Bank now?

We're committed to delivering excellent service and there are many great reasons for you to bank with us:

  • Our mobile banking app is user friendly and easy to use
    • Use Apple Pay or Google Pay to make mobile payments
    • Use Get Cash to withdraw money from ATMs
    • Get access to Emergency Cash if your debit card is lost or stolen
    • If you have the iPhone X, you can log into our app using FaceID
  • Get cashback when you use your debit card to make a purchase
  • Apply for an overdraft if you need extra funds
  • For convenience, you can use our internet, telephone banking and mobile banking services
  • 30 branches are open on a Saturday

Are there any transactions that will not incur a transaction fee?

You'll not pay transaction fees on interest or fees being refunded, credits associated with Personal Loan drawdowns, Money Desk/Structured Deposit/Bond transactions.