A Guide to Personal Current Account Fees and Interest

Transcription

1 A Guide to Personal Current Account Fees and Interest Current Account indd 1 7/6/07 11:33:02

2 This brochure tells you about: Section Page 1. Services you don t pay for 2 2. ufirst monthly membership 2 3. Interest we pay you 3 4. Overdraft Arrangement and Renewal Fees 4 5. Interest payable on agreed overdrafts 4 6. Unarranged borrowing 5 7. Managing your Account 5 8. Calculation periods for interest and fees 6 9. Charges for additional services Glossary of terms 8 All interest and fees in this leaflet are correct as at March 2007 and are subject to variation. Interest We may change the interest rates for our accounts from time to time in accordance with the terms and conditions of your account. Changes to interest rates will be displayed in our branches, and will be advised by notice in the national press, or in statements. Any published notice will appear in the following newspapers: The Irish Independent The Irish Times The Irish Examiner. To find our latest interest rates please speak to any member of staff or visit our website at Fees and Charges We will give you at least 30 days written notice of any increase in our fees and charges. 1 LB indd 2-3 7/6/07 11:33:05

3 1. Services you don t pay for You now receive the following free of charge: Payments by Laser, cheque, direct debit or standing order (see also Section 6) Transactions using your Ulster Bank Servicecard or Cashcard in any Ulster Bank cash machines or through the majority of other Republic of Ireland and UK cash machines Account Maintenance charges Account statements (excluding duplicates) Cheque books, lodgement books Internet or telephone banking service free apart from the costs of the phone call and any charges your Internet Service Provider may charge you for accessing the service Use of our counter services. There may be additional charges where we have to make special arrangements (for further information, see Section 8). ufirst and ufirstgold membership fees We will deduct the amount due from your account on the days shown in the table below Date fees are deducted from your account 04 Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Interest we pay you 2. ufirst monthly membership The following monthly membership fees are payable for ufirst and ufirstgold. This gives you access to a number of benefits and allows you to apply for the special rates and discounts available as part of your membership. ufirst 9 per month will be payable from your ufirst Current Account (dates and details in the table on Page 3). ufirstgold 14 per month will be payable from your ufirstgold Current Account (dates and details in the table on Page 3). This account is not available to new customers. Depending on the account you have, you may be able to earn interest on your credit balance. We work this out on the amount actually in your account at the close of business every day (this does not include any cheques or other items not yet cleared). We add this interest to your account every month**. The annual rate of interest paid on credit balances are as follows: Type of account Gross/Car* Dual Account 0.01% ufirst 0.5% ufirstgold 0.5% Please note credit interest is not paid on our Personal Current Account. *CAR is Compound Annual Rate and illustrates what the gross interest would be if the interest was paid and compounded each year. **Interest on Dual Account is paid annually in October. 2 3 LB indd 4-5 7/6/07 11:33:06

4 4 4. Overdraft Arrangement and Renewal Fees Current Account, ufirst, ufirstgold, Student and Graduate Account 5. Interest payable on agreed overdrafts Interest rates may vary. Overdrafts are repayable on demand. In considering an application, Credit Scoring methods may be used. Where you have arranged an overdraft limit, you pay interest at the Authorised Overdraft Rate detailed below. You will pay interest on the whole overdrawn balance: Authorised overdraft rate Type of account ufirst and ufirstgold There is an interest free buffer limit (see section 9) of up to 500 with ufirst and ufirstgold. No debit interest will be charged when you stay within the agreed buffer limit. If you go over your agreed buffer limit but stay within an agreed limit you will be charged the Authorised Overdraft Rates on the full amount borrowed including the amount within the buffer limit: Authorised overdraft rate Agreed overdraft limit Student and Graduate Accounts The student* and graduate** accounts give all students and graduates an up front^ authorised interest free overdraft of up to 650 (APR 0%). Any authorised overdraft over 650 is also available at 0% APR (availability of an overdraft greater than 650 is subject to credit score). *Ulster Bank Student account is only available to full time (minimum course length of two years), third level students resident in the Republic of Ireland. Over 18s only. Terms and Conditions apply, please read the Student Brochure for further details, available from any Ulster Bank branch ^Available for Ulster Bank Student customers on request % p.a. ufirst/ufirstgold % p.a. Up to and including 500 0% No Fee Current Account 11.55% (APR 11.55% variable) Above % (APR 11.55% variable) ** Ulster Bank Graduate account is only available to persons who have graduated within the past 12 months. (minimum course length of two years). Evidence of Graduation may be requested. Terms and Conditions apply, please read the Graduate Brochure for further details, available from any Ulster Bank branch. 6. Unarranged borrowing interest and charges We encourage our customers to agree an overdraft limit in advance of borrowing in order to avoid unnecessary excess charges (overdrafts cannot be arranged on Dual or Step accounts). If you have not contacted us to arrange an overdraft limit in advance and there is not enough money in your account, we may not allow you to withdraw money. We may not be able to pay your cheques, standing orders or direct debits, including those to an Ulster Bank loan and we will charge a fixed amount for each item we do not pay (see table below). Interest Surcharge interest at 9% per annum will apply if an account becomes overdrawn or exceeds an agreed facility without prior arrangement or where a facility has expired without our agreement to renew the facility. Surcharge interest is in additon to overdraft interest. In addition you may also pay the following charges: Why is it charged? When is it charged? Charge Irregular This is a charge applied It is generated on a 4.44 Account Charge whenever an account goes into unauthorised overdraft or an overdraft is extended due to customer generated transactions being applied. This is charged when an Unpaid item such as a cheque, This is charged per Outwards Charge direct debit or standing order is returned by us unpaid due to insufficient funds in the account. 7. Managing your Account daily basis and applied the following business day. This is charged per day. item and debited from account as and when incurred. If there are payments such as direct debits, standing orders, cheques etc due from your account, ensure there is sufficient cleared balance to meet these debits. Failure to do so will result in unauthorised borrowing to which surcharge interest and fees will apply. If you have an overdraft we encourage our customers to always ensure they operate within their agreed overdraft limit to avoid unnecessary excess charges to your account. You can check your balance on Anytime Banking which allows you to do so anytime anywhere online or by phone. Please contact your branch if you would like to discuss your financial needs further, and for more information on mitigating payments 5 LB indd 6-7 7/6/07 11:33:06

5 8. Calculation periods for interest and fees Credit interest interest we pay you If you are due interest on your ufirst, ufirstgold and Dual Accounts, we will pay the money into your account on the days shown in the table below. Interest on your Dual Account is paid annually on the last working day in October. Calculation Period 18 Aug Sep Oct Sep Oct Oct Oct Nov Nov Nov Dec Dec Dec Jan Jan Jan Feb Feb Feb Mar Mar Mar Apr Apr Apr May May May Jun Jun Jun Jul Jul Jul Aug Aug Aug Sep Sep Sep Oct Oct Oct Nov Nov Nov Dec Dec 07 Date interest is paid to your account Debit interest interest you pay If you have to pay interest on your ufirst, ufirstgold or Current Account we will deduct the amount on the days shown in the table below. Calculation Period 18 Aug Sep Oct Sep Oct Nov Oct Nov Dec Nov Dec Jan Dec Jan Feb Jan Feb Mar Feb Mar Apr Mar Apr May Apr May Jun May Jun Jul Jun Jul Aug Jul Aug Sep Aug Sep Oct Sep Oct Nov Oct Nov Dec 07 Date interest is deducted from your account 9. Charges for additional services Arrangement Fees: Assignment of Life Policy Personal Bank Drafts- Domestic Euro 2.25 Bank Giro Credits 0.51 Bank Giro Credits- Direct 0.63 Bank Report for Audit Purposes Cheque Book (Government Duty of 0.15 per cheque is payable) No Charge Cheque- Telephone Fate of 3.49 Cirrus- International ATM Transaction 2% of value, min 3, Max 12 plus 1.5% Foreign Exchange Transaction Fee (excluding transactions made in the UK or Eurozone) Credit Established 6.35 Duplicate Statements (per account) First sheet 3.81 Per sheet thereafter 2.54 Encashment of cheque for non-customer 1.27 Facsimile Statement Charge per sheet 1.27 Frequent Statement Charge per Additional statement 1.27 Indemnities: Bonds, Guarantees Lost Share Certificates 2% per annum 0.5% of value, max Interbank Domestic Transfer* Same day value Via paper LB indd 8-9 7/6/07 11:33:06

6 Irregular Account Charge 4.44 Night Safe Wallet (per half year) Safe Keeping Large box/parcel (per annum) Small box/parcel (per annum) Status and other Confidential Enquiries VAT VAT VAT Standing Order Direct Debit Pre-authorised payment in which the customer gives instructions to their bank to pay fixed sums at regular intervals or on defined dates. An instruction to a bank to allow money to be withdrawn from an account by someone other than the account holder. This is usually to pay bills, and the amount withdrawn can vary with each payment. Standing Order-Manual Payment-Lack of Funds 6.35 Stop Payment Advices 5.08 Certificate of Interest/Balance 3.81 Unpaid Cheques/Direct Debits Outwards/ Standing Orders Recall Government Card Duty Government Duty of 10 per annum is payable on Dualcards and Cashcards. Government Duty of 20 per annum is payable on Servicecards. Government Duty of 40 per annum is payable on credit cards. Unpaid Direct Debits Charge to originator 0.63 * For full details on fees and charges for our international services, please refer to the relevant schedule of charges available at the branch. 10. Glossary of terms Gross rate The rate of interest before the deduction of basic rate tax. p.a. Personal Current Accounts Buffer Limit Account Maintanance Charge Per annum (per year). Personal Current Accounts include: - Step - Dual Account - Current Account - ufirst - ufirstgold. ufirst and ufirstgold Current Account holders can apply for an interest free authorised overdraft limit of up to 500. This is known as a buffer. This charge covers the provision of current account services, including bank statements and dealing with general account queries. There is no account maintenance charge on Personal Current Accounts. 8 9 LB indd /6/07 11:33:07

7 For more information call into any Ulster Bank branch This brochure is also available in Braille, large print, audio or on disk. Please contact your local branch for details or Textphone Ulster Bank Ireland Limited. Registered in Republic of Ireland. Registration Number Registered Office: Ulster Bank Group Centre, George s Quay, Dublin 2. Ulster Bank Ireland Limited is regulated by the Financial Regulator. Calls may be recorded. ULST1376 June indd 12 7/6/07 11:33:07