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.
