Ulster Bank is one of the big four banks in Ireland and was founded almost 200 years ago in 1836. The bank has almost two million customers and offers a wide range of accounts, including some that come with benefits in return for a monthly fee. These are known as packaged bank accounts.
Ulster packaged accounts come with a variety of benefits such as mobile phone insurance, travel insurance and dining discounts. Some more expensive accounts even include “lifestyle management” services.
Some people may have been sold these accounts without knowing what the benefits are, or without actually qualifying for the insurance policies.