Ulster Bank

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Ulster Bank Happy New Year first of all, I wonder if I could get an answer to this query.

My partner and I have had an Ulster Bank Business account for 8 years. Throughout our time with the bank we have had various 'commercial managers' to advise us. At one point, one of the managers advised us to place money into bonds to secure it against our over-draft. Various bonds have matured and been reinvested. Now my problem comes when I want to move away from the Ulster bank - they won't let us have the money in the bonds back until they all mature - 2012!!!!! Is there any way - ANY - that we can force our request by quoting a bit of consumer rights/statute/legality to them. I understand that we did sign on the dotted line to the terms and conditions etc, but you can imagine how dissapointed we were when one of the bonds (£6000) only gained us 0.03p!!!!

Any advice would be welcome

Thankyou

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Re: Ulster Bank

Hello and welcome to Legal Beagles.

As I suggested in my PM to you, it would be helpful if you could scan up a copy of the agreement you entered into with the bank.

Can I ask if you have previously drawn any funds from the maturity of the bonds?

The performance of the bonds is entirely unpredictable unless they had garunteed a certain level of return in the agreement originally, was this the case?

As for terminating the agreement early, there will no doubt be a clause within the contract to account for such an occurrence, hence my suggestion that you scan a copy onto here.

Remove any personal details before posting it up (name, address, account numbers etc)

If I myself cannot help then no doubt someone will be to.