Credit Card Overview
Fact: there are more credit cards than people in Britain and the country's debt problems are amongst the worst in the world.
When choosing a card provider, its policies on responsible lending and debt advice provision are of key importance. The green and ethical concerns you bring to who you bank with, concerns about equal opportunities or the environment, are just as applicable to who you get your credit card from.
This section also looks at the green or ethical worth, as well as the practicalities of charity affinity cards.
Does your credit card provider treat its customers responsibly?
What are charity affinity cards and how do they work?
Does your credit card provider treat its customers responsibly?
Responsible lending
According to the British Banker's Association (BBA), responsible lending means 'providing credit, based on background checks and professional judgement, to people who can accommodate repayments without getting into financial difficulty'. As the sheer number of people in debt today shows, these principles are not always well applied by credit lending institutions. In 2008 our credit card debt hit £54.4bn and continues to rise.
Transparency is key - credit card customers should be presented with the terms and conditions attached to their card up front and in plain English. It is important to check whether your provider has a responsible lending policy in place, and how it is implemented if it does exist.
Debt management
Credit card debt is all too common in the UK. Some financial institutions offer basic in-house debt advice services, the scope of which can vary greatly. Often providers will refer customers to free advice services including the Consumer Credit Counselling Service, the Citizens Advice Bureau and others.
Use our search tool to find details of your provider's debt management services. Information on this subject can be found under 'Responsibility toward Customers'. Alternatively contact your provider directly for further information.
What are charity affinity cards and how do they work?
Affinity card providers make a small donation on behalf of the card holder to the charity it is associated with.
Such charity donations average around 25p per £100 spent. So, in order to donate £100 to your charity of choice you'd have to spend £40,000 with the card. Most providers also make a one-off donation of between £5 and £25 on each new card account.
In their analysis of charity affinity cards moneysavingexpert.com suggest that a more effective way to donate money is to use cash back cards. Cash back cards operate in much the same way as affinity cards except that instead of a charity, additional money goes to the card holder and this money is usually considerably more than a standard charity card donation. The cash back card holder can then donate the money they have earned to the charity of their choice and if eligible, Gift Aid it, so rather than £1 the charity will receive £1.28. Donations on affinity cards are not eligible for Gift Aid.
Your next steps
See our guide Next Steps - Credit Cards for more suggestions on how to find out about your credit card provider's green and ethical policies, how to contact them and how to find the right credit card for you.
Credit Card Search
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Credit Card Provider
Ulster Bank (Northern Ireland)
Green/Ethical Products
- Basic Account
Ethical Lending or Insurance
No evidence of an ethical lending policy found specifically for Ulster Bank.
However, Ulster Bank is part of the RBS Group. RBS Group Policy states:
“It is our responsibility to minimise these risks and to enter into lending relationships with companies who share our commitment to responsible business practices.”
Based on the information in its 2012 Sustainability Report, RBS Group places heavy restrictions and requires enhanced due diligence for higher Environmental, Social and Ethical (ESE) risk companies in specific sectors. These sectors include power generation, gambling, defence, oil and gas, mining and metals, and forestry.
The group refuses to provide financial services to “to companies involved in either the production, sale or stockpiling of highly controversial weapons including cluster munitions and anti-personnel landmines (including bespoke components) banned under international agreement ratified by the UK.” See page 32.
However, the group does not refuse outright to lend money to companies operating in other areas typically considered to be unethical.
RBS Group’s positions on Environmental, Social and Ethical (ESE) risk companies are approved by a Senior Risk Committee and are endorsed by the Group Sustainability Committee (GSC). These positions are reviewed at least every two years.
No evidence found of the Group’s ethical lending policy in action.
Human Rights
No policy was found to indicate that Ulster Bank avoids lending to or insuring companies that directly contribute to human rights violations.
Its parent company, RBS Group’s position on human rights states that the group assesses each lending, investment and services decision on an individual basis through its defined risk and credit committee procedures and take into account relevant social, ethical and environmental issues as a part of that process. See RBS Group Position on Human Rights.
Regarding its supply chain, RBS Group’s Human Rights Policy expects that suppliers should support and respect the protection of internationally proclaimed human rights and make sure they are not complicit in human rights abuses. They should not be complicit in discrimination child labour, or any form of forced or compulsory labour.
Huuman rights modules have been built into relevant compulsory online training programmes for RBS Group employees. In addition, client specific human rights risk training is delivered to risk professionals and appropriate employees across the Group.
Financial Exclusion
Ulster Bank provides the following:
- Basic Bank Accounts: current accounts with no overdraft or credit facilities
No evidence that Ulster Bank provides direct financial support to or engages in partnerships with Credit Unions and CDFIs (Community Development Finance Institutions).
However, in 2011, RBS Group launched its sponsorship for the Community Development Finance Association (CDFA) “Change Matters 2” performance framework, aimed at raising professional standards in the Community Development Finance Institution (CDFI) sector. The framework is one of the CDFA’s five priority commitments to build the CDFI sector, attract more investment for their members and in doing so increase access to affordable finance across the UK.
In addition, the bank group provided £5 million in funding for a new 'Community Business Loan' which was launched in October 2011. CDFIs can apply for loans of between £200,000 and £1m.
Ulster Bank provides the following access schemes:
- textphone services for deaf, hearing or speech impaired customers
- induction loops in all the bank’s branches
- sign language interpreters upon request and with advanced notice
- Statements, letters, information and other literature available in Braille, large print or audiotape
- large-size chequebooks
- Cash machines available in Braille, large print or audiotape
Click here link for more details.
Ulster Bank's parent company, RBS Group, has launched RBS Inspiring Social Enterprise. The Group’s Micro Finance Fund is an independent charity that was set up to lend directly to the social enterprise sector. The fund approved over £3 million for loans in 2012. See page 29.
Ulster Bank offers the Funding for Lending Scheme: As part of Ulster Bank’s commitment to the Government's Funding for Lending Scheme, they’ve launched a fund specifically to support local businesses. Customers are not charged an arrangement fee for any new loans drawn under the scheme and can qualify for a 1% interest rate discount if the loan is for five years or less.
Carbon Neutral
No commitment to become fully carbon neutral was found for Ulster Bank.
However, RBS Group launched a £200m Carbon Reduction Fund in 2012 to finance the introduction of energy efficiency measures for customers. See page 29.
Equal Opportunities
Ulster Bank’s parent company, the RBS Group, has a diversity policy takes into consideration the key equality issues of physical characteristics, such as gender, race, age or disability, sexual orientation, beliefs and opinions.
Women on the Board
RBS Group:
4/12 women hold top level board positions (33.3%)
Voluntary Standards & Initiatives
No membership of any relevant charters or initiatives found for Ulster Bank.
However, its parent company, RBS Group, is a member of or signatory to the following relevant charter or initiatives:
- UN Global Compact
- Equator Principles—member of Equator Principles Steering Committee
- UN Guiding Principles for Business and Human Rights (Ruggie Principles)
- Carbon Disclosure Project
- Dow Jones Sustainability Index
- FTSE4Good Index
Charitable Giving
Ulster Bank helps fund and support its key programme, MoneySense, which is aimed at teaching young people how to manage their money and prepare for the financial decisions in life.
Ulster Bank’s MoneySense Financial education lessons are delivered to secondary schools and civil society organisations throughout Ireland and North Ireland. See page 20.
In 2012, RBS Group invested £57.2 million in the communities around the world through cash donations, staff volunteering, in kind contributions and management. See page 34 for a breakdown of figures.
Ulster Bank (Northern Ireland)
- Current Accounts
- Mortgages
- Loans
- Credit Cards
- Savings
- Insurance (Home, Life, Travel)
- Student Account
- Graduate Account
- Student MasterCard
Ulster Bank (Northern Ireland)
Ulster Bank Limited
11-16 Donegall Square East
Belfast BT1 5UB
