As of 2021, Ulster Bank has shut down its entire branch network in the Republic of Ireland.
Ulster is closing its accounts for customers in the Republic of Ireland. The bank has confirmed that it is no longer accepting business account applications, any existing business accounts are being transferred to other banks and financial institutions.
This does not impact the bank’s separate operations in Northern Ireland.
If you run a business in Northern Ireland and you’re looking to open a business account, then Ulster Bank may be an option worth exploring. Ulster Bank caters to firms with a range of turnovers and those operating in foreign currencies. Here’s everything you need to know about what the bank can offer business customers.
To make comparing even easier we came up with the Finder Score. Fees, features and customer service across 20+ of the most popular banks are all weighted and scaled to produce a score out of 10. The higher the score the better the account – simple.
Ulster Bank is part of the wider Natwest Group of companies. Ulster Bank operates across Northern Ireland, where it has more than 90 branches in total. It offers both personal banking and business banking services.
If you’re interested in opening a business account with Ulster Bank, it’s important to note that your business must be registered in either Northern Ireland, and the business owners must be residing in either the UK or Northern Ireland.
What types of business account does Ulster Bank offer?
There are four types of business account available at Ulster Bank. These are:
Business Bank Account
Startup Bank Account
Community Account (for Charities and clubs)
Foreign Currency Account
What are the features of Ulster Bank’s business accounts?
Ulster Bank’s different business accounts come with the following features:
Business Bank Account
For more established businesses
Online and mobile banking
Dedicated relationship manager
Business Visa debit card
Business cheque book
Flexible borrowing options
International payments
Free access to FreeAgent accounting software
Startup Bank Account
For new businesses trading less than 12 months, or which have a projected or actual annual turnover of under £1 million
Free business banking for the first 18 months
Online and mobile banking
Business Visa debit card
Community Account
For charities, clubs, societies and social enterprises
Free business banking for the first 24 months if annual turnover is less than £250,000
Foreign Currency Account
For businesses that earn or spend money abroad
Must already have a Business Bank Account with Ulster Bank to open one of these
Accounts available in major currencies
International payments available in major currencies
Overdraft facilities available in major currencies
Online banking
Euro cheque book for euro currency accounts
How can I contact Ulster Bank?
If you have a query about your account, Ulster Bank can be contacted by phone on 0345 366 5592 (from Great Britain or Northern Ireland).
Pros and cons of Ulster Bank business banking
Pros
Range of business accounts to choose from
Free banking periods with some of the business accounts
Free and discounted access to online accounting software
Strong focus on international banking
Cons
Not available to businesses that are not registered in Northern Ireland
Customer service information for Ulster Bank
Email support
Telephone support
In-app or live chat
Contact form
Branch support
Bottom line
Ulster Bank has a wide range of business accounts on offer, that cater for established businesses, startups, charities and companies that trade across international borders. But although it’s part of the wider RBS banking group, Ulster Bank’s business accounts are only available to businesses that are registered in Northern Ireland.
Get started by visiting Ulster Bank’s website and sign up for an account. If you have read this review and decided that Ulster Bank’s account is not for you, you can also compare other business bank accounts on the market.
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Michelle Stevens is a deputy editor at Finder, specialising in banking, credit, loans and mortgages. She has a journalism degree from the University of Sheffield and has been a journalist for 15 years, writing on topics including fintech, payment systems and retail. In her spare time, Michelle likes to travel, explore new foodie experiences and attempt to improve her own culinary skills. See full bio
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Michelle has written 108 Finder guides across topics including:
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