Closing your Business Current and Deposit Accounts

A guide to closing or switching your business current and deposit accounts

Finding your new business current account in 3 easy steps. Simply: Choose, Move, Close

Ready to Close Your Current Account right now?

To continue with this process, you will require:

  • Your existing sort code and account number or IBAN
  • Details of the new account (IBAN and BIC) you want the balance transferred to
  • Details of your Ulster Bank Commercial Card Programme to be closed (Your Commercial Card Programme number can be found on your most recent Commercial Card statement), if applicable

You can request to close your account by selecting one of the three options below:

  1. Completing the paper free option of our Online Closure form (from the link below) or
  2. Completing our account closure form, which is available to download (from the link below) or
  3. Making your request in writing, signed in line with your account mandate, and sending it to us at FREEPOST Ulster Bank, PO Box 13432, Dublin 18 

Before you Switch or Close Your Account

How do I close my deposit account?

If we have written to you about closing your current account and deposit account, its important that you act to close your account before the date in your letter. If you are ready to act before we write to you, you can still do that. 

When you are closing your current account, you may also have a deposit account that you need to close.

Find your deposit account in three easy steps:

1) Choose

If you don’t already have a deposit account elsewhere, you should look for an alternative provider before closing your account.

2) Move

We have a number of different types of deposit that you may have, and how to go about moving your deposit is explained further down this page.

You should make sure you have any documents you might need before you close your account (e.g. statements, certificates of interest) as you may not have access to these after the account is closed.

We will apply any credit interest accrued up until the date of closure and all returns are subject to Deposit Interest Retention Tax (DIRT).  Under current legislation the effective DIRT rate is 33%.

3) Close

We have several different types of deposit account, and how you close those differs in some ways. We have explained how you can close these accounts below. 

Need additional support?

We have additional online resources to help you:
If you need extra support to close your account e.g. due to a disability, health condition or because your circumstances have changed, we have a number of ways to contact us:
  • Call our dedicated helpline on 1800 818375 or +35315317171 from outside the Republic of Ireland. Line opening hours are Monday to Friday, from 09:00 am until 17:00 pm. Call costs may vary and calls from mobile phones may not be free.
  • Visit your local branch