Heritage FAQs

When was Ulster Bank formed?

Ulster Bank was established in Belfast by a group of merchants who wanted a local bank to meet their need for local financial services. They issued a prospectus to attract investment in March 1836 and quickly raised enough capital. The bank opened its doors on 1 July 1836.

What's the story behind Ulster Bank’s logo?

The RBS daisy wheel branding was adopted by Ulster Bank in 2005. Before this the bank used NatWest’s three arrowheads logo.

The daisy wheel was introduced by RBS in 1969, when Scottish banking was going through a series of mergers. Clear branding helped customers recognise and distinguish between rival banks.

The daisy wheel symbol was one of the UK’s first modern branding devices. The design was based on arrow symbols, representing the accumulation and concentration of wealth in customers' interests. The square shape was intended to show stability. Blue was chosen because of the Scottish flag and because it carried a sense of reliability and consistency.

Where and when was the first Ulster Bank branch opened?

Enniskillen was our first branch. It opened on 3 August 1836 under the management of Scotsman Adam Duncanson. More about when our branches opened

Where was Ulster Bank’s first cash machine installed?

The forerunner of the modern cash machine was a cash dispenser which allowed customers to withdraw £10 per transaction in return for a cash card. Ulster Bank pioneered this service in Ireland and the first four machines were installed in 1968 at Donegall Place, Belfast, O’Connell Street, Dublin, Dun Laoghaire and Ballymena.

How is Ulster Bank connected with NatWest and The Royal Bank of Scotland?

Although always run independently, Ulster Bank was owned by London County & Westminster Bank Ltd (later known as Westminster Bank Ltd) from 1917. In 1970, Westminster Bank joined with National Provincial Bank to form National Westminster Bank Ltd. Then in 2000 NatWest was taken over by The Royal Bank of Scotland Group. Today Ulster Bank is a subsidiary of The Royal Bank of Scotland Group.

I have an old Ulster Bank note. How much is it worth?

The Irish banks have always undertaken to accept any of their old banknotes, even after designs have left circulation. So if you took it into one of our branches, it would be worth its face value. Many notes are, of course, worth much more than their face value, because they have become collectors' items. To us, though, the historical value is more important than the financial value, and we can't advise on what they might be worth if sold.

Why we care about our history

Ulster Bank has a long and distinguished history. The bank and its branches have played a role in the development of many villages, towns and cities across Ireland, and in the nation's economy, since the mid-nineteenth century.

We recognise that our archives and past may be of interest to researchers and are pleased to offer an historical enquiry service. Feel free to email our archivists with any questions.