Ulster Bank Extends 150 Current Account Offer - It's Time for Everyone to Get a Piece of the Action

Don't be one of the estimated 40% who still get charged for banking transactions Move to Ulster Bank for no strings transaction fee free banking and we'll give you €150

Wednesday 28 March 2007

Ulster Bank has today announced that it is to extend its landmark €150 current account incentive for an additional month following unprecedented customer demand. In just under one month, Ulster Bank has seen a 30% increase in the number of new current accounts*, and has today challenged customers of other banks to either switch to Ulster Bank or ask their bank manager the following questions about the so-called 'free' banking they are providing for their current account customers.

• Why do I need to keep a minimum balance to avoid bank charges?
• Why do I need to use my online banking to avoid bank charges?
• Why do I need to change my banking habits to avoid bank charges?
• Why would I stay with my current bank when Ulster Bank will give me €150 AND Transaction Fee Free Banking - AUTOMATICALLY

Mr Mike Bamber, Chief Executive, Ulster Bank Retail Markets said: "Since we introduced this landmark offer at the beginning of March, our branches across Ireland have been inundated with customers looking to sign up, with a 30%* increase in the number of new current accounts since the start of the month. As a result, we've decided to extend this offer until April 30th 2007, to allow everyone to get a piece of the action, with customers who open an account with Ulster Bank not only getting a free €150, but also access to the best current account available on the market, with automatic transaction-fee free banking** as standard."

Mr Bamber continued: "Everyone is talking about free banking, but the difference with Ulster Bank is that you don't have to change your banking habits one little bit to get it. We won't ask you to pay bills online, maintain a minimum balance or jump through any hoops - with Ulster Bank you just get transaction fee free banking, and now you get €150 free just for switching over!"

The €150 incentive follows on from Ulster Bank's ground-breaking move last year when it became the first bank in Ireland to automatically offer transaction fee-free banking to all its current account customers, both new and existing. In order to avail of this incentive, customers are simply required to switch and redirect their salary to an Ulster Bank current account. There are no minimum monthly lodgement requirements or other conditions, making this offer easy and straightforward for customers.

This unprecedented offer is designed specifically to encourage customers to closely examine the level of service they receive from their existing bank and to help overcome the longstanding inertia around switching in the current account market.

By switching their account to take advantage of this limited period offer, customers will be receiving a cash bonus and will be switching to one of the best current accounts in the market, provided by the third-biggest bank across Ireland, North and South. Customers also have access to the Ulster Bank ATM network, one of the largest ATM networks in Ireland. They will be joining over 450,000 Ulster Bank personal current account customers in the Republic of Ireland who are already reaping the benefits of no-strings transaction fee-free banking.

Anyone interested in taking up this great offer should call into any one of Ulster Bank's 124 branches in the Republic of Ireland, call 1850 812 245 or log on to www.ulsterbank.ie for further information.

*Average Weekly Comparison

** Charges for additional services may still apply. Please see our booklet 'A Guide to Personal Current Account Fees and Interest' available in branch for further details.