Friday 19 January 2018

Ulster Bank introduces new €25 overdraft fee

Ulster Bank head offices on George’s Quay, Dublin
Ulster Bank head offices on George’s Quay, Dublin
Peter Flanagan

Peter Flanagan

ULSTER Bank has become the latest lender to charge customers seeking an overdraft.

The bank will charge €25 for setting up an overdraft fee and then €25 a year to maintain it from that point.

The charges will come in on September 16.

There is no way to avoid the charges. The bank will impose the fee on new overdrafts and increased facilities, while the annual fee will be imposed on overdrafts that are already in place.

Ulster Bank said it could not provide the numbers of customers affected as that is "commercially sensitive".

Student and graduate accounts will not be hit, now will other “packaged” accounts.

Ulster follows AIB and Bank of Ireland in introducing fees for previously free services.

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