ACE Current Account

UBL UK does not offer arranged overdrafts, but in the event that you find yourself in an unarranged overdraft, the interest rate applied to negative balance accounts as of 14.04.20 is 28.07% Equivalent Annual Rate (EAR) Variable.

In line with new rules, on 14.04.2020 UBL UK removed the £25 unarranged overdraft charge and now applies an EAR Variable rate, calculated daily and debited from your Account on the last calendar day of the month. UBL UK will provide 2 months' written notice of any changes to this EAR Variable rate.

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The table below shows you how much it will cost to borrow £500 based on different lengths of maintaining an unarranged overdraft with the Unarranged Overdraft interest rate of 28.07% EAR Variable.

*Assuming the Account moves into unarranged overdraft, and remains overdrawn for the same balance for the specified number of days.

In line with new rules, UBL UK does not charge an unarranged overdraft fee. However, fees detailed in the Personal Banking Schedule of Charges will still apply for all returned payments as a result of not having cleared funds in your Account. These returned payment fees may place your Account into an unarranged overdraft with any negative balances subject to unarranged overdraft interest charges being applied so it is important that you ensure there are sufficient funds in your Account to cover all payments. 

Details of unapproved overdraft charges are detailed in the Personal Banking Schedule of Charges.

Mobile Banking: manage your account on the go, view balances and make payments, including funding a remittance to Pakistan using UBL UK NetRemit and apply for new accounts with UBL UK.

Mastercard Debit Card – make contactless payments up to £30, manage everyday spending and withdraw up to £250 per day wherever you see the Mastercard logo.

Cheque Book – issue cheques using your UBL UK cheque book.

Online Banking – manage your Account online using internet banking - visit digitalbanking.ubluk.com.

Alerts – stay in control of your spending with our SMS and email transaction alerts, and use the mobile app to set up push notifications for certain transactions.

Safety Deposit Box – UBL UK Current Account holders may apply for a Safety Deposit Box.

International Transfers – send money to friends and loved ones in Pakistan using your ACE Current Account to fund a UBL UK NetRemit transaction, now available in the same app.

UBL UK is not a member of the Current Account Switch Guarantee.

Eligibility:

You must be;

• Aged 18 or over
• Have proof of identity
• Have proof of your address
• You may be required to provide proof of source of funds

Minimum/Maximum Balance:

• There is no minimum balance
• The is no maximum balance

How to open the Account:

You may also complete the Application Form,  and then return it along with verified copies of your Photo ID and either a Bank Statement or Utility Bill as Proof of Address dated within the last 3 months. this may take up to 15 Working Days to process, forms can be returned in the following ways:

• In branch: Visit any of our branches Monday to Friday between 9:30am and 4pm
• In writing: By post, sending instructions to: FREEPOST: RSSA-GJRS-KBCT, UBL UK Central Operations, 391-393 Stratford Rd, Birmingham B11 4JZ (all written instructions must be countersigned and dated by all named Account holders)

Please make sure that you select the links below and read and understand the Personal Banking Terms and Conditions where you will find full details of the Account, before you apply:

Personal Banking Terms and Conditions

How we protect your deposits

Interest Rate Sheet

Personal Banking Schedule of Charges

This account can be held in single or joint names.