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Switching to an Ulster Bank business bank account

Let us take the headache out of switching

All about Switching

If you’re switching your business account from another bank, we can do all the work for you. With a Current Account Switch Service, we’ll move everything from your old account to your new one. And that includes moving Direct Debits and Standing Orders too.

To switch to us, just apply for a business account and tell us you’re switching during the application. Then choose the Switch Service you need, give us your old bank account details and tell us when you want the switch to start.

How do I choose the right switching service?

The service you'll need depends on whether you need to keep your old account open, your eligibility (based on business circumstances), the mandate authorisation with your old bank and whether your old bank is part of the Current Account Switch Service:

  • A Full Current Account Switch Service is done within 7 working days, backed by the Current Account Switch Guarantee (PDF, 64KB)
  • A Partial Current Account Switch Service allows customers to select a date up to 90 days and is not backed by the Current Account Switch Guarantee

You can find out more about each service from the FAQs below, or in our Switching Guide (PDF, 577KB).

What can I expect to happen?

Day 1 and 2

The Current Account Switch Service will contact your old bank and they confirm if the switch can go ahead.

Day 3

Your new account will be set up and regular payments, like your salary will be moved across. We will also advise you how to set up your bill payments.

Day 6

We talk to your old bank about transferring your balance over.

Day 7

Your balance will then be transferred and your old account will be closed. And that’s your switch complete.

Choose your account...

Startup account

You’ve been trading less than a year

For turnover less than £1m

18-months transaction-fee free business banking (Standard Published Tariff after)

Dedicated start-up package including access to our Business Builder learning platform

Online and phone banking

 

Business account

You’ve been trading over a year

For businesses with turnover less than £6.5m. If your business is larger, please contact our Relationship Management teams.  

As a customer, you can grow your business and build your local network by applying for our Entrepreneur Accelerator programme

Online and phone banking

Fees apply

Community account

You’re a not for profit organisation

Enjoy fee-free banking for 18 or 24 months if your business is deemed a charity. Business Banking T&C’s apply.

Cheque book and paying in book

Apply for a Debit card

Online and phone banking

 

 

What you’ll need to open an account

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.

Useful information for when you switch business bank accounts

Third Party Provider (TTP) Permissions

If you have given permissions to Third Party Providers to make payments on your behalf, or to access your financial data, access to these services won't be transferred automatically to your new account as part of the Current Account Switch Service.

1. Before you close your old account, check whether you have any Third Party Provider permissions set up and if so, who with.

2. Once your new account is open, you can give your permission to the Third Party Provider to access your new account by providing them with your new account details. You will need to contact the Third Party Provider directly yourself to set this up.

3. If you are unsure as to whether your new bank will support Third Party Provider permissions on your account, you will need to discuss this ahead of your switch with your new provider who will be able to advise you of this.

Please check your new provider's terms and conditions for more information about Third Party Providers.

Payment Redirection Extension Period

Anything else we can help with?