A Guide to Personal Current Account Fees and Interest Current Account
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 7 10. Glossary of terms 8 All interest and fees in this leaflet are correct as at July 2008 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 www.ulsterbank.ie Fees and Charges We will give you at least 30 days written notice of any increase in our fees and charges. 1
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. Your account may still be charged if you have requested a payment for a future date and do not provide sufficient cleared funds for the payment of all the items presented on that date. Use of our counter services. There may be additional charges where we have to make special arrangements (for further information, see Section 9). 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 10 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. 2
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 11 Jan 08 08 Feb 08 07 Mar 08 11 Apr 08 09 May 08 06 Jun 08 11 Jul 08 08 Aug 08 05 Sep 08 10 Oct 08 07 Nov 08 12 Dec 08 3. Interest we pay you 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* (variable) Dual Account 0.01% ufirst 0.65% ufirstgold 0.65% 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. 3
4. Overdraft Arrangement and Renewal Fees Current Account, ufirst, ufirstgold, Student and Graduate Account No Fee 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 % p.a. Current Account 15.05% (APR 15.05% variable) ufirst and ufirstgold There is an interest free buffer limit (see section 10) 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 ufirst/ufirstgold % p.a. Up to and including 500 0% Above 500 15.05% (APR 15.05% variable) 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 ** 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. 4
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, direct debits or future dated payments, 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 It is generated on a 4.44 Account Charge This is a charge applied whenever an account goes into unauthorised overdraft or an overdraft is extended due to customer generated transactions being applied. Unpaid This is charged when an This is charged per 12.70 Outwards Charge item such as a cheque, direct debit, standing order or future dated payment 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, future dated payments etc due from your account, please ensure there is sufficient cleared balance to meet these debits by close of business on the working weekday before the debits are due. 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
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 24 Dec 07 20 Jan 08 21 Jan 08 21 Jan 08 17 Feb 08 18 Feb 08 18 Feb 08 24 Mar 08 25 Mar 08 25 Mar 08 20 Apr 08 21 Apr 08 21 Apr 08 18 May 08 19 May 08 19 May 08 22 Jun 08 23 Jun 08 23 Jun 08 20 Jul 08 21 Jul 08 21 Jul 08 17 Aug 08 18 Aug 08 18 Aug 08 21 Sep 08 22 Sep 08 22 Sep 08 19 Oct 08 20 Oct 08 20 Oct 08 23 Nov 08 24 Nov 08 24 Nov 08-21 Dec 08 22 Dec 08 Date interest is credited to 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 19 Nov 07 23 Dec 07 11 Jan 08 24 Dec 07 20 Jan 08 08 Feb 08 21 Jan 08 17 Feb 08 07 Mar 08 18 Feb 08 24 Mar 08 11 Apr 08 25 Mar 08 20 Apr 08 09 May 08 21 Apr 08 18 May 08 06 Jun 08 19 May 08 22 Jun 08 11 Jul 08 23 Jun 08 20 Jul 08 08 Aug 08 21 Jul 08 17 Aug 08 05 Sep 08 18 Aug 08 21 Sep 08 10 Oct 08 22 Sep 08 19 Oct 08 07 Nov 08 20 Oct 08 23 Nov 08 12 Dec 08 Date interest is deducted from account 6
9. Charges for additional services Assignment of Life Policy Personal 31.74 Bank Drafts- Domestic Euro 2.25 Bank Giro Credits 0.51 Bank Giro Credits- Direct 0.63 Bank Report for Audit Purposes 25.39 Certificate of Interest/Balance 3.81 Cheque Book (Government Duty of 0.30 per cheque is payable) No Charge Cheque- Telephone Fate of 3.49 Cirrus- International ATM Transaction^ 2% of transaction value, Min charge 3, Max charge 12 plus 1.5% Foreign Exchange 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 Emergency Cash 5 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 2% per annum Lost Share Certificates 0.5% of value, max 31.74 Interbank Domestic Transfer* Same day value Via paper 24.50 Irregular Account Charge 4.44 7
Maestro- International Point of Sale Transaction^ 1% foreign exchange fee (Min charge 0.25 Max charge 6) of the transaction value plus 1% transaction fee charge (Min charge 0.25 Max charge 6) of the transaction value Night Safe Wallet (per half year) 20.00 Safe Keeping Large box/parcel (per annum) Small box/parcel (per annum) 40.00 + VAT 40.00 + VAT Standing Order-Manual Payment-Lack of Funds 6.35 Status and other Confidential Enquiries 5.24 + VAT Stop Payment Advices 5.08 Unpaid Cheques/Direct Debits/Standing Orders/ Future Dated Payments 12.70 Unpaid Direct Debits Charge to originator 0.63 ^ This does not include any additional fees that a merchant or cash machine owner may impose on the customer for using this service. * 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 Account Maintanance Charge 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. Buffer Limit Direct Debit 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. 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. 8
Emergency Cash Future Dated Payment Gross rate p.a. Personal Current Accounts Standing Order This is a service offered to our ATM / Debit Card Customers when reporting their card lost or stolen via the Lost & Stolen helpdesk. Subject to satisfactory identification checking and sufficient cleared funds, cardholders will be given the opportunity to use a unique code to withdraw an amount of 'Emergency Cash' from an Ulster Bank ATM without the use of a card. When you make use of the Anytime Internet and Telephone Banking service, or the Branch Funds Transfer service, to request us to make a payment at a future date. The rate of interest before the deduction of basic rate tax. Per annum (per year). Personal Current Accounts include: - Step - Dual Account - Current Account - ufirst - ufirstgold. Pre-authorised payment in which the customer gives instructions to their bank to pay fixed sums at regular intervals or on defined dates. Government Card Duty Government Duty of 5 per annum is payable on Dualcards and Cashcards. Government Duty of 10 per annum is payable on Servicecards. Government Duty of 30 per annum is payable on credit cards. 9
For more information call into any Ulster Bank branch www.ulsterbank.ie This brochure is also available in Braille, large print, audio or on disk. Please contact your local branch for details or Textphone 1800 924 615. Ulster Bank Ireland Limited. A private company limited by shares, trading as Ulster Bank, Ulster Bank Group and Banc Uladh. Registered in Republic of Ireland. Registered No 25766. Registered Office: Ulster Bank Group Centre, George s Quay, Dublin 2. Member of The Royal Bank of Scotland Group. Ulster Bank Ireland Limited is regulated by the Financial Regulator. Calls may be recorded. ULST1376 July 2008