Limited payment FAQs

Our security systems flagged a possible risk, so we’ve limited/restricted the amount you can pay to protect you. There could be several reasons this was flagged, such as an increase in scams linked to accounts at this bank, financial company, or cryptocurrency exchange.

While we look into this, we’ve limited the amount you can pay to lower the risk to you.

This limit only applies to the bank, financial company, or cryptocurrency exchange you’re trying to pay.

It’s separate from the payment limits you set in the Mobile or Online Banking.

• Read more about payment limits if you’re an Ulster Bank Personal customer
• Read more about payment limits if you’re an Ulster Bank Business customer

We monitor scam and fraud risks 24/7 and must react quickly without warning to protect you and your money.

Yes, our Terms and Conditions allow us to limit/restrict payments where there is a high risk of fraud, scams, or other crimes:

• View Ulster Bank Personal Current Accounts Terms and Conditions and selecting ‘Your Current Account Terms’
• View Ulster Bank Business Current Account Terms and Conditions and selecting ‘Business Account Terms’

Our security systems will continue to monitor the situation and limit/restrict payments to this bank, financial company, or cryptocurrency exchange while we think there is a risk to you.

Yes, we've limited/restricted how much money you can send to this bank, financial company or cryptocurrency exchange from every account you hold with us. This includes any attempts to make payments and payments that were rejected. The limit is per customer, not per account

Yes, but we don’t recommend it as you could be at risk of losing money, and other banks may also limit/restrict it.  

If you feel pressured to pay, stop and discuss it with someone you trust.

Here are some ways you could protect yourself:

• If you’re an Ulster Bank Personal customer, read our Investment Scams Guide
• If you’re an Ulster Bank Business customer, read our Investment Scams Guide

If you’re worried about this payment, please get in touch with us.

To keep your money safe from scams, we have decided to block or limit online banking and mobile app Faster Payments and Debit Card transactions we identify as going to cryptocurrency exchanges to £1k a day and £5k in any 30-day period, until further notice. This includes any attempts to make payments and payments that were rejected. The limits are per customer, not per account.

We know that customers investing their money in cryptocurrency has become extremely popular. However, we are also aware of the increasing risk posed by fraudsters exploiting this trend to dupe customers out of millions of pounds per month. As such, we have decided to take proportionate action to keep our customers safe and secure.

Since February 2018, to keep you safe and secure and not expose you to more risky debt, we have blocked the use of our Credit and Charge Cards to purchase cryptocurrency.

Cryptocurrency isn’t protected by the UK’s Financial Services Compensation Scheme (FSCS) and is not an asset that's regulated by the Financial Conduct Authority (FCA). There are also concerns that it could be used to facilitate financial crime or fraud. The value of these currencies is unpredictable and generally involves taking high risks with your money.

As cryptocurrencies are unregulated assets, we’re unable to provide customers with advice. If you still wish to purchase cryptocurrency, we suggest that you seek independent financial advice via a trusted and regulated advisor or firm.