In response to Northern Rock's entry into the deposit market here, Ulster Bank has introduced a new rate for personal deposits of 4.2 per cent with instant access to funds. This rate applies to balances of £1,000 and more. The bank says the new rate is the best in the market and "unlike the overseas postal product recently introduced, Ulster Bank customers would have immediate access to their funds from any Ulster Bank branch or ATM machine".
Withdrawal amounts are restricted to £300 at ATM machines but there are no restrictions on branch withdrawals.
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