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 Anytime Internet Banking.
Read more about payment limits if you’re a Ulster Bank Personal customer(opens in a new window)
Read more about payment limits if you’re a Ulster Bank Business customer(opens in a new window)
We monitor scam and fraud risks 24/7 and 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(opens in a new window) and selecting 'Your Current Account Terms'
View Ulster Bank Business Current Accounts Terms and Conditions(opens in a new window) 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 payments to this bank, financial company, or cryptocurrency exchange from every account you hold with us. These limits are inclusive of any attempted and rejected payments that are made across all of your personal accounts within the period and is per person 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 worried about this payment, please get in touch with us.
Due to the high number of scams originating on Facebook Marketplace, we’ve taken steps to help keep your money safe. If a Faster Payment is identified as being at a high risk of a scam, we’ll now block the payment to keep your money safe.
To protect your money, our security systems will continue to monitor the situation and will continue to block payments to the seller you’re trying to pay while we think there is a risk to you.
Read Facebook's 'Buying and Selling' policy via the Facebook Marketplace Help Centre before sending money to a Facebook Marketplace seller.
We monitor scam and fraud risks 24/7 and react quickly without warning to protect you and your money.
Yes, our Terms and Conditions allow us to block payments where there is a high risk of fraud, scams or other crimes.
Yes, but we don’t recommend it as you could be at risk of losing money and other banks may also stop this payment.
If you feel pressured to pay, stop and discuss it with someone you trust.
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 Faster Payments we identify as going to cryptocurrency exchanges. From 16th March 2023, we’ll block or limit Faster Payments and Debit Card transactions made to these exchanges to £1k a day and £5k in any 30-day period, until further notice. These limits are inclusive of any attempted and rejected payments that are made across all of your personal accounts within the period and is per person 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.
Cora can help with a wide range of queries and show you how to do your banking.
