Basic information of the bank
type: Ulster Bank is a commercial bank and a wholly owned subsidiary of NatWest Group, a UK state-controlled bank listed on the London Stock Exchange.
Founded: 1836.
Headquarters: Dublin, Ireland.
Shareholder Background: As a wholly owned subsidiary of NatWest Group, Ulster Bank's operations and strategy are directly influenced by the parent company.
Coverage
coverage: Mainly in the Republic of Ireland and Northern Ireland.
Number of offline outlets: Ulster Bank has closed most of its branches due to a gradual exit from the market.
ATM distribution: As business shrinks, so does the ATM network.
Regulatory & Compliance
Regulator: Regulated by the Central Bank of Ireland and the Financial Conduct Authority (FCA).
Deposit insurance: In the UK, deposits are covered by the Financial Services Compensation Scheme (FSCS); In Ireland, it is protected by the Deposit Protection Scheme (DGS).
Recent Compliance Record: During the phase-out process, Ulster Bank complied with relevant regulatory requirements to ensure that the rights and interests of its customers were protected.
Financial health
Capital Adequacy Ratio (CET1): The CET1 ratio was 49.0% at the end of 2024, demonstrating strong capital strength.
Non-performing loan ratio: By selling a portfolio of non-performing loans, banks have effectively reduced their non-performing loan ratios.
Liquidity Coverage Ratio (LCR): As of September 2023, the LCR reached 502%, well above regulatory requirements.
Deposits &
LoansDeposit Class
current savings account: Offers up to 4.25% APR, depending on account balance.
Fixed Deposits: 1-Year Fixed Deposits have an interest rate of 0.20% per annum.
Loan Class
Personal Loans: Loans with a representative annual interest rate of 6.6% are available for loan amounts ranging from £7,500 to £14,950.
Housing loans, car loans: Due to business adjustments, related products may have been transferred to other financial institutions.
List of common fees
Account management fee: £2 per month.
Transfer fees: Domestic transfers are usually free of charge, but fees may apply for cross-border transfers.
Overdraft fee: Calculated based on the amount and time of the overdraft.
ATM interbank withdrawal fee: A fee may apply, depending on where and how much the money is withdrawn.
Hidden Fee Alert: Additional fees may apply if your account balance falls below a certain amount.
Digital Service Experience
- APP
& Online Banking: Ulster Bank's mobile banking app has a rating of 4.9 stars on the App Store and 3.9 stars on Google Play. Real-time transfers, bill management, and more.
Technological innovation: Introducing AI customer service, robo-advisor, and open banking API support to improve user experience.
Customer Service Quality
Service Channels: 24/7 phone support, live chat, and social media responses are available.
Complaint Handling: Aim to resolve customer complaints within 8 weeks and provide detailed results.
Multi-language support: Mainly available in English, with limited support in other languages.
Security measures
security of funds: deposits are protected by FSCS or DGS up to £85,000.
Data security: Adopt advanced anti-fraud technology and data protection measures to ensure the security of customer information. The Times
Featured Services & Differentiation
market segments: providing student accounts, exclusive wealth management for the elderly and green financial products to meet the needs of different customer groups.
High-net-worth services: Provide customized financial solutions for high-net-worth clients through private banking services.
