Switch your business bank account to Ulster Bank

You can find more information on the Current Account Switch Service website.

For your application

• Give us a detailed description of your business in your application.
• If you’re a start-up, provide a realistic estimate on your turnover.  We know this can be challenging, so your best estimate is fine.
• Provide clear and detailed information throughout the application. Try your best not to leave gaps - especially in the trading activity section.
• Make sure any additional partners linked to the account return the required documents as fast as possible.
• Be ready to send any further information we may ask for as soon as you can. We may contact you via email or phone after you’ve submitted your application.
• You'll need to verify your identity with the help of onscreen prompts within Mitek. Mitek is our trusted online identification and security partner. This will help to give you more clarity about which documents you should provide.
• Use the application hub to check for updates.

To switch a business bank account, you’ll need to:

• complete one of our business account applications 
• answer 'Yes' when we ask if you want to switch your business bank account from another UK bank to us (we'll ask this in the 'Existing banking relationships' section of your application)
• provide 6 months statements from your existing business current account

1. Once you’ve submitted your application, we'll email you to confirm we've received it.
2. We'll contact you by phone or email if we need any more information. We won't be able to progress your application until you send us the missing information.
3. If there's more than one party named on the application, you'll be asked to complete a mandate. You may also be asked to complete a tax declaration and acknowledge Business term accounts.
4. Once we’ve opened your account, we’ll send you an email with the account details. Your debit card and Online Banking details will arrive shortly after.
5. We will send you the appropriate switcher form which can be also accessed from this page. 

If we’re unable to progress your application for any reason, we will notify you by email.

The criteria for the two switching services are different.

Full switch using the Current Account Switch Service

Your entity needs to be a small business:

• with an annual turnover and/or balance sheet total under £6.5m, and less than 50 employees, or
  
• a charity with an annual income of less than £6.5m, or
• a trust with a net asset value of less than £6.5m.

Partial switch

This is when you: 

• aren’t eligible for the full Current Account Switch Service
• met the eligibility criteria for the full Current Account Switch Service but choose a partial switch provided by Ulster Bank instead (maybe because you wanted up to 90 days to switch, or you wanted to choose which Standing Orders and Direct Debits to transfer, for example)
• opted for the full Current Account Switch Service but still hold security at your old bank so you don’t meet the full Current Account Switch Service criteria

To receive the 2-year free banking offer, you'll need:

• to make a full switch using the Current Account Switch Service
• to have a projected or existing annual turnover not exceeding £2m
• to switch from an eligible business bank account; the switch offer is not available to customers switching a NatWest or Royal Bank of Scotland business current account to Ulster Bank, and is not available to customers switching from a personal account to a business bank account.

If your turnover is above £2m, you can still use CASS to switch your account to Ulster Bank as long as you meet the criteria above, but you won't be eligible for free banking.

We won't switch any standing orders with a frequency over a year into the new account. Once your account's open, you'll be able to set up standing orders with a frequency of up to 1 year.

It's best to review these facts before making a full business bank account switch.

• It’s free to use.
• It’s backed by the industry-wide Current Account Switch Guarantee, which ensures that in the unlikely event that something goes wrong, any bank charges would be fully refunded.
• Your switch will be completed within 7 business days.
• You can choose a switch date – so the switch from your old bank to us will take place on an agreed day.
• All existing Standing Orders, Direct Debits and future-dated payments will be transferred across as part of the business banking switch.
• Your old account will be automatically closed and any balances transferred.
• All your payments are redirected once your switch is complete. This catches any stray payments that might be accidentally made to the old account after your switch is complete.

We won't switch any standing orders with a frequency over a year into the new account. Once your account's open, you'll be able to set up standing orders with a frequency of up to 1 year.

Please note that payees you have set up on your existing account will not be transferred to the new account. You will need to set up payees yourself but details of all payees previously set up can be shared to assist with this.

Here are some key things to remember when completing a partial change of your business bank account.

• It’s a free service offered by Ulster Bank, but it isn’t backed by the Current Account Switch Guarantee.
• Your switch must be completed within 90 days.
• Your Standing Orders and Direct Debits will all be transferred, unless you choose which specific ones you’d like to transfer.

We won't switch any standing orders with a frequency over a year into the new account. Once your account's open, you'll be able to set up standing orders with a frequency of up to 1 year.

Please note that payees you have set up on your existing account will not be transferred to the new account. You will need to set up payees yourself but details of all payees previously set up can be shared to assist with this.

Sole traders:

If you’re starting a switch, your Debit card with your old bank needs to be:

• active
  
• not a cheque charge card or credit card
• cancelled if it’s lost or stolen.

• Incorrect or expired documents.
• Providing incomplete or limited information when asked about your business.
• Poor credit score.
• Dishonesty and fraud.
• Being linked with certain business types or countries.

What could stop your switch from going ahead?

A range of things could prevent your business account switch from happening. 

Som examples include;

• Insufficient signing authority provided on the switch form
• Differences between the information provided on the switch form and the information held at your old bank
• Not eligible for the type of switch selected  

Yes, if you've already opened a Ulster Bank business account you can use the Current Account Switch Service to complete a full switch of a business account you hold elsewhere. You also may still be eligible for our 2 years free banking switch offer if you choose to make a full switch.

Choose the 'Yes, I've got a Ulster Bank business bank account' option in the How to switch to us section of this page to download the form you need to switch.

Or, give us a call and we'll help you get started:

0345 366 5592

+44 345 366 5592 from outside the UK

18001 0345 366 5592 for Relay UK

Calls may be recorded.

To see how much your call might cost, visit the call charge information page.

For more information on accessibility visit our accessibility page.

Yes, however you will need to discuss an overdraft facility with us first. Depending on the lending criteria and your credit status, you might be eligible for the overdraft. 

To find out more use our Eligibility checker.