Direct Saver - Common questions
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The answers you're looking for
- I recently applied for an account, how long it will take before I receive my account opening pack?
- I sent my application back, when will my account be opened?
- Are there any charges on the account?
- Can my first lodgement be taken electronically from an account held at another bank?
- I am sending in a cheque as an initial lodgement, who do I make it payable to?
- When will my cheque be lodged to the account?
- How do I view my account once it has been opened?
- How do I transfer money out of the account?
- How do I contact someone for more information?
- How do I close my account?
I recently applied for an account, how long it will take before I receive my account opening pack?
Your account opening pack should normally reach you by standard post within three to five working days from the date of application.
I sent my application back, when will my account be opened?
We will aim to open your account within 24 hours of receipt of application, subject to account opening procedures. We may need you to send us further photographic ID or address verification to allow us to open your account. Once your account is open we will send you a confirmation letter with your account number and sort code. Please note that this account can only be viewed and managed by registering for Anytime Banking, either online or over the phone. If, as part of your application, you have chosen to register for Anytime Banking you will receive your customer number and activation code in the post so you can view and manage your account online or over the phone.
Can my first lodgement be taken electronically from an account held at another bank?
No. Your initial lodgement can be taken from an existing Ulster Bank account or you can send us a personal cheque. You cannot send cash. Please note that your initial lodgement must be a minimum of £5,000. Once your account is opened it is possible to transfer money by a Standing Order or an electronic transfer from another bank into your Direct Saver account from an account that has the facility to set up Standing Orders or electronic transfers.
I am sending in a cheque as an initial lodgement, who do I make it payable to?
You should make the cheque payable to yourself. The minimum balance requirement on Direct Saver is £5,000.
When will my cheque be lodged to the account?
If you provided a cheque for the initial deposit on your Direct Saver account, this is lodged at the time of account opening.
How do I view my account once it has been opened?
Please note that this account can only be viewed and managed by registering for Anytime Banking, either online or over the phone. If, as part of your application, you have chosen to register for Anytime Banking you will receive your customer number and activation code in the post so you can view and manage your account online or over the phone.
Once your account has been opened it will appear on your Anytime Banking account within 48 hours.
How do I transfer money out of the account?
Using Anytime Banking customers are free to move money to any nominated account. However, transfers to an account at other UK banks or building societies, either online or over the phone, are subject to a daily limit of £10,000. If you wish to transfer more than this amount, please contact Anytime Banking on 08457 424 365 to discuss the options available to you. Charges may apply to these options, please see our booklet A guide to personal accounts fees and interest (PDF file) for details. We will need to have your telephone number on file for some of these options so please ensure you provide this at account opening.
Please note that the standard rate of interest 0.96% Gross/0.96% AER (variable) will not be paid in any month in which a withdrawal is made. However the monthly bonus of 0.53% Gross/AER (fixed) will continue to be paid provided the minimum balance is maintained. The introductory bonus rate of 0.53% Gross/AER (fixed) paid each month for 12 months from the date the account is first opened applies to accounts opened from 22 November 2012.
How do I contact someone for more information?
If you are having difficulty completing the online application you can contact us on 0845 301 4970 between 8am and 10pm, Monday to Sunday, and we will be happy to help. Calls may be recorded.
