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How do Transaction fees impact me?

What accounts do transaction fees apply to?

These changes will apply if you hold any of these accounts with us:

Currently on Sale

  • Current Account
  • Standard Account

Currently Off Sale (but may still be held)

  • Dual Account
  • Current Plus Account
  • Facility Account

Non personal accounts will not incur transaction fees.

Are transaction fees replacing the monthly maintenance fee?

Transaction fees are not replacing the monthly maintenance fee. However, the balance waiver is changing and will now waive transaction fees only, meaning all customers (except customers that are aged 66 or over) will pay the monthly maintenance fee. This is changing from €4 to €2.

How will Ulster Bank calculate my transaction fees?

Transaction fees will accrue on your account throughout the charging cycle. On the final day of the cycle the fee for each transaction will be totalled and added to your monthly fee and the full amount will be debited from your account 21 days later.

Will anyone be exempt from paying transaction fees?

The following personal current account customers will not be charged transaction fees:

  • Customers aged 66 years or over
  • Customers who hold a joint account where one party is aged 66 years or over
  • Customers who maintain a minimum cleared balance of €3,000 in their account at all times during the relevant charging cycle (a monthly maintenance fee of €2 will apply)
  • Customers holding the following accounts:
    • Private Accounts
    • ufirst and ufirstgold (currently off sale but may still be held by you)
    • Service Account
    • Student & Graduate Account
    • Adapt Account
    • Foundation Account (this is a basic account with no credit facilities, service card or chequebook, only available if you don't already hold a payment account in the Republic of Ireland)
    • Savings Accounts

If I have more than one current account, will I pay transaction fees on each account?

You will be charged transaction fees for each current account, with the exception of the accounts where the fee does not apply as detailed above.