Closing your Deposit Account

To close these deposit account(s) with us, complete/sign the enclosed form, and return it to us using the prepaid envelope provided in your closure letter, or to FREEPOST Ulster Bank, PO Box 13432, Dublin 18. You can nominate on this form where you want your deposit funds to be paid. Any interest that has accrued on your account up to the time of closure will be applied before the account is closed. This includes bonus interest accrued on your Bonus Access Account.  All returns are subject to Deposit Interest Retention Tax (DIRT). Under current legislation, the effective DIRT rate is 33%.  

To close your Money Desk Deposit account(s) with us please provide written authorisation signed in accordance with your account mandate, quoting your business name, address and deposit account number and return it to us using the prepaid envelope provided in your closure letter, or to FREEPOST Ulster Bank, PO Box 13432, Dublin 18. Where closing your account prior to the maturity date of the deposit, the loss of interest incurred upon early closure will be waived and your balance plus interest due to the date of closure will be credited to your Ulster Bank servicing account.  All returns are subject to Deposit Interest Retention Tax (DIRT).  Under current legislation, the effective DIRT rate is 33%.

As your Money Desk Deposit or Annual Coupon balance and interest can only be transferred to your designated servicing account, it is important that you close your Money Desk Deposit before closing the current or savings account linked to this.

To close your Money Market Contract call deposit account(s) with us you can contact your Relationship Manager or our dedicated Money Markets Deposit team. Alternatively, you can provide written authorisation signed in accordance with your account mandate, quoting your business name, address and deposit account number and return it to us using the prepaid envelope provided in your closure letter, or to FREEPOST Ulster Bank, PO Box 13432, Dublin 18.  The balance due will be returned per your repayment instructions. If you wish to change these repayment instructions, please advise us in writing. All returns are subject to Deposit Interest Retention Tax (DIRT).  Under current legislation, the effective DIRT rate is 33%.

To close your Foreign Currency Call Deposit or Current Account with us please provide written authorisation signed in accordance with your account operational mandate and return it to us using the prepaid envelope provided in your closure letter, or to FREEPOST Ulster Bank, PO Box 13432, Dublin 18. Any interest that has accrued on your account up to the time of closure will be applied before the account is closed.  All returns are subject to Deposit Interest Retention Tax (DIRT).  Under current legislation, the effective DIRT rate is 33%. 

It is important that you close your Foreign Currency account before closing your branch current or savings account.