International Payments - Terms and Conditions | Ulster Bank

Ulster Bank - Terms and Conditions

Payment and International Banking Charges

Payment and International Banking Charges (effective from 13th June 2017)

1.International Drafts and Payments – Euro

- Sale of Foreign Euro Drafts*:

  • 0.75% of value issued
  • Minimum €6.35
  • Maximum €31.74

*A foreign euro draft is a Euro denominated draft drawn on a bank in a participating country other than the Republic of Ireland.

- Stop payments advice: €5.08

Fees for all euro payments to European Union (EU) countries/European Economic Area (EEA).

In order to qualify for these payment charges, payment application must indicate Ulster Bank’s charges for account of applicant and foreign bank(s) charges for account of beneficiary.

- Urgent Payment (same day value)

  • Paper/Chip and PIN* Request: €24.50
  • Electronic payment (Anytime Internet Banking) – subject to daily payment limits: €18.38
  • Electronic payment (Bankline/International Cash Management– Business customers only): €18.38

- Next day value payment (standard transfer)

  • Chip and PIN* Request – up to €13,000: €0.00
  • Chip and PIN* Request– over €13,000: €0.51
  • Paper Request: €0.51
  • Electronic payment (Anytime Internet Banking) – subject to daily payment limits: No Charge
  • Electronic payment (Bankline/International Cash Management – Business customers only): €0.38

Fees for euro payments to non EU/EEA countries

- Urgent payment

  • Paper/Chip and PIN* Request Payments < €5,001: €19.05
  • Paper/Chip and PIN* Request Payments >/= €5,001: €24.50
  • Electronic payment (Anytime Internet Banking) Payments < €5,001: €19.05
  • Electronic payment (Anytime Internet Banking) Payments >/= €5,001– subject to daily payment limits: €24.50
  • Electronic payment (Bankline/International Cash Management – Business customers only) Payments < €5,001: €14.29
  • Electronic payment (Bankline/International Cash Management – Business customers only) Payments >/= €5,001: €18.38

- Non-urgent payment (standard transfer)

  • Paper/Chip and PIN* Request: €0.51
  • Electronic payment (Anytime Internet Banking) – subject to daily payment limits: €0.51
  • Electronic payment (Bankline/International Cash Management– Business customers only): €0.38

- Cut-off times for payments

  • Paper (via branches): 1.00pm
  • Paper (direct): 2.00pm
  • Electronic – International Cash Management (Business Customers Only): 2.00pm
  • Anytime Internet Banking: 3.00pm
  • Chip and PIN* (via branches) 3.00pm

- Inward Payments – in favour of:

  • Non Ulster Bank Accounts Telephone Advice of Individual: €10.00
  • Payment received: €2.00

2.International Drafts and Payments – Non Euro

- Drafts

  • €3.81 per draft
  • Stop payments advice: €5.08

- Outward Payments (i.e. Telegraphic Transfers)

  • Paper/Chip and PIN* Request Standard Payment: €0.00
  • Paper/Chip and PIN* Urgent Payment: €12.70
  • Anytime Internet Banking Standard Payment: €0.00
  • Anytime Internet Banking Urgent Payment: €12.70
  • Bankline Payment Standard Payment: €0.00
  • Bankline Payment Urgent Payment €9.52

- Inward Payments – in favour of:

  • Ulster Bank accounts up to €126.97: Free
  • Thereafter: €6.00
  • Non-Ulster Bank accounts: €10.00
  • Telephone Advice of Individual Payment received: €2.00
  • Trace on a correctly processed payment: €7.50

Note: Ulster Bank Accounts, e.g. Current Accounts/Savings Accounts. Agents’ charges may also be applicable. These are charges levied by the other financial institutions involved in the Payment and they are outside the control of Ulster Bank. *PIN: Personal Identification Number.

3. Bureau de Change

- Sales

  • Foreign currency notes:
  •     1% of value issued
  •     Minimum: €0.32
  •     Maximum: €2.54

- Purchases

  • Foreign currency notes:
  •     1% of value issued
  •     Minimum: €0.32
  •     Maximum: €2.54
  • Unpaid Foreign Cheques: €6.35

- Cheques and Travellers Cheques

  • Non Euro Currencies:
  •     1% of value issued
  •     Minimum: €0.32
  •     Maximum: €2.54
  • Euro Currencies
  •     1% of value issued
  •     Minimum: €3.81
  •     Maximum: €38.09

Note: Bureau de Change services are provided free of charge to student customers (full-time student account holders in third level education) and Graduate Package account holders. Agent charges relate to handling and administrative fee’s applied by another institution. These charges are subject to terms and conditions held between Ulster Bank and such agent. These charges may vary.

4. Collections

- Import

  • Clean or Documentary
  •     0.3% of value
  •     Minimum: €38.09
  •     Maximum: €126.97
  • Issue of Release notes: €25.39

- Export

  • Clean or Documentary
  • 0.15% of value
  • Minimum: €12.70
  • Maximum: €63.49

- Cheque Collections

  • Import: €12.70 per item
  • Export: €12.70 per item

5. Bonds, Guarantees and Standby Letters of Credit

- Bonds, Guarantees and Standby Letters of Credit

  • Subject to arrangement

Note: In addition to the charges outlined in this brochure Out of Pocket expenses (e.g. courier charges, SWIFT*** transmission charges and third party expenses) may also apply.

*** SWIFT: Society for Worldwide Interbank Financial Telecommunication.

6. Documentary Credits

- Import

€0.25 per €100 for each 3 months, or part thereof, on the value of the credit outstanding at the beginning of each 3 month period.

  • Minimum: €38.09
  • Amendment: €12.70
  • Acceptances: 1.5% per annum
  • Examination of Documents: No charge

- Export

  • Pre-advising a credit: €25.39
  • Advising without adding confirmation: €76.18
  • Adding our confirmation: Subject to arrangement. Minimum €76.18
  • Amendments: €38.09 per amendment
  • Payments/Negotiations: 0.3% of value. Minimum €76.18
  • Acceptances/Bill Discounting: Subject to arrangement.

Note: In addition to the charges outlined in this brochure Out of Pocket expenses (e.g. courier charges, SWIFT*** transmission charges and third party expenses) may also apply.

*** SWIFT: Society for Worldwide Interbank Financial Telecommunication.

7. International Accounts

- Administration Fee Half-Yearly (Current Account only)

  • Sterling Accounts: £75.00
  • Other Currencies*: €150.00
  • Lodgements for Sterling accounts: £0.60
  • Cheques paid on Sterling Accounts: £0.50

- Duplicate Statements

  • First Sheet STG A/c’s: £2.75
  • First Sheet USD A/c’s: $5.00
  • First Sheet *Other Currencies: €4.00
  • Each Subsequent Sheet STG A/c’s: £1.75
  • Each Subsequent Sheet USD A/c’s: $3.00
  • Each Subsequent Sheet *Other Currencies: €2.60

- General Account Charges

  • Unpaid Cheques Inward STG A/c’s: £4.25
  • Unpaid Cheques Inward USD A/c’s: $9.00
  • Unpaid Cheques Inward *Other Currencies: €6.35
  • Copy Cheque STG A/c’s: £1.00
  • Stop Cheque STG A/c’s: £8.50
  • Cash Transactions**: 0.5%

*Fees for other International currency accounts will be charged at the euro equivalent of the fees and charges listed in the International currency of the account. Foreign currency rates of exchange are displayed or will be quoted by staff at branches. The rates are also available on the Bank’s website www.ulsterbank.ie

**The cut-off time for cash transactions to these accounts is 2.00pm, cash transacted after this time will be deemed to have been received on the next business day.

8. Commercial Cards

This section applies to business customers only.

- Business Card

  • Annual Fee (per card): €30.00
  • Foreign Exchange Fee: 2.00%
  • Cash Advance: 1.75% (min €2.54)
  • Late Payment Interest (min €3.00)
  • Late Payment Fee €8.50
  • Copy statement €4.00
  • Unpaid Direct Debit Fee €8.50
  • Government Stamp Duty €30.00 (per card)

- Ulster Bank OneCard

  • Annual Fee (per card): €50.00
  • Foreign Exchange Fee 2.00%
  • Cash Advance 1.5% (min €2.54)
  • Late Payment Interest 2% per month (min €3.00)
  • Late Payment Fee €8.50
  • Copy Statement €4.00
  • Unpaid Direct Debit Fee €8.50
  • Extended Payment Period (centrally billed): 7 days-0%, 14 days-0.45%, 21 days-0.55%, 25 days-0.60%, 28 days-0.70%
  • Extended Payment Period (individually billed): 14 days-0%, 21 days-0.55%, 25 days-0.60%, 28 days-0.70%
  • Government Stamp Duty: €30.00 (per card)

- Ulster Bank Purchasing Card

  • Annual Fee (per card): €35.00
  • Foreign Exchange Fee 2.00%
  • Cash Advance 1.5%
  • Late Payment Interest 2% per month (min €3.00)
  • Late Payment Fee €8.50
  • Copy Statement €4.00
  • Unpaid Direct Debit Fee €8.50
  • Extended Payment Period (centrally billed): 7 days-0%, 14 days-0.25%, 21 days-0.50%, 25 days-0.75%, 28 days-1.00%
  • Extended Payment Period (individually billed): N/A
  • Government Stamp Duty: €30.00 (per card)

- Business Debit

Transaction type (inside the Eurozone)

Cash withdrawal at an ATM:

  • No Card Fee*
  • No Exchange Rate Transaction Fee

Cash withdrawal in any Ulster Bank, RBS Group, NatWest Branch:

  •     No Card Fee*
  •     No Exchange Rate Transaction Fee

Using your card in any other banks, travel agents, bureau de change or other outlets displaying the Visa Logo:

  • No Card Fee*
  • No Exchange Rate Transaction Fee

Foreign currency withdrawal from a cash machine which is not an RBS, NatWest or Ulster Bank cash machine:

  • Card Fee* is 2% of transaction amount (min €3, max €12)
  • Exchange Rate Transaction Fee is 1.5% of transaction amount

Point of Sale Transactions:

  • No Card Fee*
  • No Exchange Rate Transaction Fee

Purchasing foreign currency or travellers cheques using your debit card in any RBS or NatWest Branch:

  • Card Fee*: Standard Bank charges may apply.
  • Exchange Rate Transaction Fee: Standard Bank commission rates may apply

Using your card in any other banks, travel agents, bureau de change or other outlets displaying the Visa Logo:

  • Card Fee*: Standard Bank charges may apply
  • Exchange Rate Transaction Fee: Standard Bank commission rates may apply

Transaction type (outside the Eurozone)

Cash withdrawal at any RBS owned ATM located in the following regions: Ulster Bank in Northern Ireland, NatWest in England and Wales and RBS in Scotland

  • No Card Fee*
  • No Exchange Rate Transaction Fee***

Cash withdrawal which is not at the following ATM locations – Ulster Bank in Northern Ireland, RBS in Scotland, and NatWest in England and Wales **

  • Card Fee* is 2% of transaction amount (min €3, max €12)
  • Exchange Rate Transaction Fee is 1.5% of transaction amount

Purchasing foreign currency or travellers cheques using your Debit Card***

  • Card Fee* is 1% of transaction amount (min €0.25, max €6)
  • Exchange Rate transaction fee is 1% of transaction amount (min €0.25, max €6)

Purchases (point of sale transaction)

  • Card Fee* is 1% of transaction amount (min €0.25, max €6)
  • Exchange Rate Transaction Fee is 1% of transaction amount (min €0.25, max €6)

*Standard Current Account Transaction Charges may apply as per Guide to Business Current Account Fees.

**Local banks may charge a fee

***Transaction is converted into Euro at a rate determined by Ulster Bank

A Government Stamp Duty charge of 12 cent is applied to each domestic cash withdrawal made at an ATM. The total fee paid per annum per card is capped at €2.50 on ATM only cards and €5 on combined ATM and debit cards, and is applied annually in January.

9. Bankline

Bankline gives online visibility of up to 999 of your domestic and international business accounts Real time balance and transaction reporting.

- Unlimited payment volumes

  • Monthly Subscription fee: €5
  • Standard Domestic Payment: €0.38
  • Same Day Domestic Payment: €18.38
  • International Payments: 25% discount on the paper payment pricing

There are two optional services available through Bankline

- Bankline SEPA Money Transfer*

- Payments per file €3.40

- Payments per item €0.05

* Bankline SEPA Money Transfer offers customers an optional service to process high volume SEPA online payments and collect SEPA Direct Debits through the SEPA Direct Debit scheme. This service is subject to availability. It has separate terms and conditions and transaction charges will also apply.

- Statement Download* 

Ability to generate downloadable files to assist with auto-reconciliation

Reports include additional account detail e.g. transaction codes.

Provide filtered account reports e.g. cheque only reports.

- Generation of download per file €25.00

* Bankline Statement Download offers customers an optional service to generate downloadable files. This service is subject to availability and has separate terms and conditions. Transaction charges will also apply.

10. Network (SWIFT Balance and Transaction reporting)

MT940 – End of Day Balance and Transaction Reporting:

Reporting up to 5 accounts: €25.00 per account per month

Reporting 6 or more accounts: €12.50 per account per month (on all accounts).

MT941 – Intraday Balance Information/ MT942 – Intraday Transaction Information:

Reporting up to 5 accounts: €12.50 per account per month

Reporting 6 or more accounts: €6.25 per account per month (on all accounts).

11. Merchant Services

Merchant Services is provided by WorldPay.

For more information on fees and charges, please visit www.worldpay.com/ireland 

Note:

1. Major Foreign Currency Rates of Exchange are displayed or will be quoted by staff at branches. These rates are also available on the Bank’s website www.ulsterbank.ie

2. In addition to the charges outlined in this brochure Out of Pocket expenses (e.g. courier charges, SWIFT*** transmission charges and third party expenses) may also apply.

Ulster Bank provides an extensive range of products and services which support import and export activity.

Our product range includes:

  • International Payments
  • Foreign Currency Accounts
  • Foreign Currency Loans
  • Documentary Credits
  • Collections
  • Bonds and Guarantees
  • Bill Discounting

*** SWIFT: Society for Worldwide Interbank Financial Telecommunication.

Important Information:

Terms and conditions apply in respect of products and services outlined. Fees outlined in this brochure apply to all accounts, irrespective of whether or not the account is maintained in debit or credit. Information correct as at 01 February 2016 and is subject to change.

For further Current Account charges please see ‘A Guide to Personal Accounts Fees and Interest’ or ‘A Guide to Business Current Account Fees’ brochures, available at your Business Centre/Branch.

To find out more:

Call into your local branch or visit www.ulsterbank.ie

Braille, large print and audio 

This brochure is also available in Braille, large print, audio or on disk. Please contact your local branch for details or Textphone 1800 924 615.

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