Current Account Switch Offer Terms and Conditions


Please read this document which provides you with information including the full Terms and Conditions relating to the Current Account Switch Offer.

The Current Account Switch Offer provides new customers who switch their mortgage to Ulster Bank and open an Ulster Bank current account the opportunity to receive a one-off cash payment to the sum of €500. Full qualifying criteria and Terms and Conditions apply as outlined below.

What is the offer?

Ulster Bank will make a one-off cash payment of €500 to eligible mortgage switcher customers who open a new current account and meet the criteria below.

How do I qualify for the offer?

  • You must complete a full mortgage switch application for a residential mortgage with Ulster Bank between 27 July 2020 and 21 September 2020, and you must switch your mortgage within the timeframe outlined in your offer letter.
  • You must apply for and open an Ulster Bank Current Account or Standard Account within 3 months of drawing down your Ulster Bank mortgage and you must also meet the qualifying criteria outlined below within this timeframe.
  • You must be a new Ulster Bank customer who does not hold an Ulster Bank current account prior to 27 July 2020.
  • You must complete the following within 3 months of drawing down your Ulster Bank mortgage: 
  • Make at least €2,000 worth of deposits to your new current account;
  • Register for and log into our Anytime Internet Banking or Mobile App services;
  • Set up two or more Direct Debits to be paid from your new current account on a monthly basis.

What else should you know?

  • The €500 cash payment will be paid to your current account, within 3 months of you having met the required criteria above.
  • The offer is not available to customers who only submit an Approval In Principle application during this period.
  • Each customer may only receive the cash payment in relation to one eligible current account.
  • Joint mortgage customers who each open individual current accounts will be eligible for a €500 cash payment to be made to each eligible current account.
  • If you open an eligible current account and meet the criteria above, you will still receive the payment if you convert the account to another account type before the payment is made.
  • If you close or request to switch your current account to another provider or you redeem or switch your Ulster Bank mortgage to another provider before payment of the €500 then no payment will be made to you.
  • Once you’ve opened your current account, you’ll be bound by our Personal Banking Terms and Conditions, which contain all the terms applicable to your current account, including any regular criteria you need to meet in order to keep your account and use the account benefits. For detailed information on our Terms and Conditions as well as our Fees and Interest, please visit ulsterbank.ie/brochures and view our “Personal Banking Terms and Conditions” and “A Guide to Fees and Interest” brochures.
  • A decision by the Bank to withhold a cash payment in respect of an eligible account may be made at the Bank’s sole discretion.