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Ulster Bank VS MyPOS: Business Banking Review & Fee Comparison


By: Ian Wright | Last Updated: May 22, 2025

Is Ulster Bank or MyPOS better for your small business?



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Below we look at both Ulster Bank and MyPOS reviews on Trustpilot along with their App reviews from Apple and Google.

We then look at typical fees, business savings rates, foreign currency options and a whole bunch of other account features to help you make up your mind.

Ulster Bank Homepage
Ulster Bank Homepage


MyPOS Homepage
MyPOS Homepage
 

Ulster Bank vs MyPOS Trustpilot Reviews

Ulster BankMyPOS
Trustpilot Review Score (out of 5)1.54.2
Percent 5-Star Reviews8%67%
Percent 1- Star Reviews86%11%
Total Number of Reviews11410,019
Sources:
https://www.trustpilot.com/review/www.ulsterbank.co.uk
https://www.trustpilot.com/review/mypos.com

Ulster Bank vs MyPOS App Reviews

Ulster BankMyPOS
iPhone Review Score (out of 5)4.84.2
Number of iPhone Reviews15,700698
Android Review Score (out of 5)4.13.3
Number of Android Reviews15,00014,900
Sources:
https://apps.apple.com/gb/app/ulster-bank-ni-mobile-banking/id469523324
https://apps.apple.com/gb/app/mypos-accept-all-payments/id934401253

Ulster Bank vs MyPOS Account Fees & Charges

Ulster BankMyPOS
Free Business Bank AccountYesYes
Free Business Account Term Length24 MonthsNo Limit
Cheapest Monthly Account Fee£8No
Most Expensive Monthly Account Fee£12No
Electronic Payment Cost (in/out)43p£1.50
Cash Payments Cost (in/out)70p per £100£2
Cheques (in/out)40pUnknown
CHAPS Payments Cost£18.75No
SEPA Payments Cost€0.51£3

Ulster Bank vs MyPOS Business Savings Rates

Ulster BankMyPOS
Types of Business Savings AccountsInstant access accounts, Fixed term accounts, Currency savings accountsNone
Lowest Savings Rate (AER)1.46%NA
Maximum Savings Rate (AER)1.92%NA
Minimum Savings AmountNoNA
Interest Paid On Foreign CurrenciesYesNo
 

Ulster Bank vs MyPOS Account Opening Times

Ulster BankMyPOS
Can You Apply Online?YesYes
How Long Does Opening An
Account Typically Take?
24 working hoursFew minutes
Do They Check Your Credit?YesNo
Current Account Switch ServiceYesNo

Ulster Bank vs MyPOS Features & Account Types

Ulster Bank Account Types
Ulster Bank Features & Account Types


MyPOS Account Types
MyPOS Features & Account Types


Ulster BankMyPOS
Business Current AccountYesYes
Business Savings AccountYesNo
Business Credit CardYesNo
Business OverdraftYesNo
Accounts For StartupsYesYes
Accounts For CharitiesYesNo
Accounts For Sole TradersYesYes
Joint Business Accounts AvailableYesNo
Card TypeMastercardVisa
Online BankingYesYes
Mobile BankingYesYes
In Person/Branch BankingYesNo
Branch LocationsNorthern Ireland OnlyNone, online only

Ulster Bank vs MyPOS Customer Support Options

Ulster BankMyPOS
Phone Support AvailableYesYes
Email Support AvailableYesYes
App Based Support YesYes
Web Based SupportYesYes
In person Customer SupportYesNo

Ulster Bank vs MyPOS Foreign Currency Accounts

Ulster BankMyPOS
US Dollar (USD) Bank AccountsYesYes
Euro (EUR) Bank AccountsYesYes
Other Currencies Available:
  • Swiss franc
  • Japanese yen
  • Australian dollar
  • Canadian dollar
  • New Zealand dollar
  • Swedish krona
No

Other Business Services From Ulster Bank and MyPOS

Ulster Bank Account Types
Other Ulster Bank Services


MyPOS Account Types
Other MyPOS Services


Ulster BankMyPOS
Business LoansYesNo
Commercial MortgagesNoNo
Invoice FinancingYesNo
International PaymentsYesYes
Merchant Payment ServicesYesYes
Card MachinesYesYes
Free Accounting SoftwareYesYes

Ulster Bank vs MyPOS Banking Basics

Ulster BankMyPOS
Bank TypeHigh StreetOther
FSCS ProtectionYes, up to £85,000No
FCA NumberNA900826
WebsiteUlster Bank WebsiteMyPOS Website

Common Comparison Questions

Does Ulster Bank or MyPOS have better customer reviews?

Ulster Bank scores 1.5 out of 5 based 114 Trustpilot reviews. Of these reviews 8% are 5-star and 86% are 1-star.

Whereas, MyPOS scores 4.2 out of 5 based 10,019 Trustpilot reviews. Of which 67% are 5-star and 11% are 1-star.

Does Ulster Bank or MyPOS have a better App?

Ulster Bank’s iPhone App is rated 4.8 out of 5 based on 15,700 reviews. And it’s Android App is rated 4.1 out of 5 based on 15,000 reviews.

In comparison, MyPOS’s iPhone App is rated 4.2 out of 5 based on 698 reviews. And it’s Android App is rated 3.3 out of 5 based on 14,900 reviews.

Does Ulster Bank or MyPOS have better business savings rates?

Ulster Bank offers the following types of business savings accounts: Instant access accounts, Fixed term accounts, Currency savings accounts with interest rates ranging from 1.46% to 1.92%. (AER)

In contrast, MyPOS offers None accounts with interest rates ranging from NA to NA (AER).

See Other Comparisons:
Ulster Bank vs Ampere
Kent Reliance vs Cynergy Bank
Kent Reliance vs Zempler Bank (formerly Cashplus)
Kent Reliance vs Co-operative Bank
Kent Reliance vs Aldermore


For other business bank accounts see our guide here.

 



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