Startup Bank Account
You’ve been trading less than a year and your turnover is less than £1m
You may have heard we plan to begin a phased withdrawal from Ulster Bank’s Republic of Ireland business over the coming years. There will be no immediate changes for customers and we anticipate that our withdrawal will take a number of years to allow a smooth transition.
There are no changes for Ulster Bank Northern Ireland customers.
The Current Account Switch Service will do all the work when it comes to switching, moving everything across from your old account to your new account, all within 7 working days, including Direct Debits and standing orders. All you need to do is tell us the details of your old bank account and when you want the switch to start.
FreeAgent accounting software gives you a clear, real-time view of your business finances.
As an Ulster Bank business current account holder, you can access FreeAgent for free as long as you retain your bank account. You’ll get the complete package, including:
Multi-currency invoices, expenses and bank accounts in one place
Real-time cashflow overview
Tax returns you can submit directly to HMRC at the click of a button
Participating providers of UK business bank accounts have agreed to a basic set of information that they will need from you to set up your UK business current account.
Find out what you’ll need to provide using the simple business banking checklist from UK Finance, the UK’s leading trade association for financial services.
Can I switch banks after taking out a loan?
You are able to switch your Business Current Account or your business banking to another provider while retaining your business loan with us. We may require you to open a fee free loan servicing account and will confirm if this is required as part of the switching process. A fee-free Loan Servicing Account is not a Business Current Account. This account will purely be used to facilitate your loan and will be free of any transaction charges.
Confirmation of Payee is a way of giving you greater confidence that you are sending your payment to the intended recipient.
It is, in essence, an ‘account name checking service’ that can help avoid payments being misdirected due to errors or fraud.