Ulster Bank urging customers to Move/ Switch

Calls are underway for those first customers whose six month notice period ends in October.

Ulster Bank is urging customers, especially those whose six month notice period is coming to an end, to act now to choose a new provider, to move their balances and transactions, and finally close their current and deposit accounts.

Customers should ensure that they have opened new accounts, and updated their employer and/ or the Department of Social Protection. They also need to ensure Direct Debits or any other regular payments leaving their account such as Standing Orders and Subscriptions, are updated with their new account details.

For business customers moving accounts, Ulster Bank is urging them to take action as this process can take longer as business requirements are “typically more complex”.

Ulster Bank is making additional contact with customers who are approaching the end of their six-month notice period and have “not yet taken action”, to remind them that their six-month notice period is almost up and of what they need to do.

These calls are underway for those first customers whose six month notice period ends in October.

After Ulster Bank customers receive their first communication (letter/email), they are reminded at multiple times over their six-month notice period, through text messages, phone calls, prompts on our mobile app and internet banking as well as follow-up letters/ emails, that they need to take action.

If at the end of this six-month period a customer has not moved their account, the account will become non-operational and after a month will be closed with a cheque issued for the account balance, less any outstanding fees, stamp duty etc payable.

While outstanding transaction fees etc will apply to customers closing accounts, there is no charge to close your account.

Rolling closures are planned over the coming weeks and months ahead for all current and deposit account customers who have received notice.

Jane Howard, Chief Executive of Ulster Bank said: “We will be moving to close the very first accounts in October and we strongly urge customers to act now and not leave it until the last minute.”

She added that a “huge amount of work” has happened across the industry to welcome and onboard former Ulster Bank customers and increase account opening capacity. “We strongly encourage customers who have received their notice letter or email, to start the process now to give as much time as possible for any unforeseen complexity and to allow for ample time to move direct debits, wages, subscriptions and we are very conscious of customers in receipt of Department of Social Protection payments, that they allow time to open a new account and transfer these transactions to continue to receive those important payments.”

She went on to state that Ulster Bank staff are continuing to work hard to support customers through all channels and our changes implemented in July have allowed branch staff to focus on supporting customers who are moving their current and deposit accounts. “Additional focus has been given to additional contacts to customers approaching the end of their six month notice period to ensure that they are taking steps before their account is frozen. I’d like to reiterate my thanks to our colleagues for their continued customer focus throughout this process.”

Almost all customers have now received their notice letters/ emails, and while customers do not need to take action until they receive a letter/email from Ulster Bank, for the past number of months Ulster Bank has been working to and remains fully open / operational to assist customers who wish to begin this process now.

Those customers who are near end of their six month notice period “need to take action immediately”, where they have not done so already.

Ulster Bank strongly encourages any customers who have difficulty with opening a new account within their notice period and have not been in contact with us, to contact us as soon as possible on 0818 210 260 or 00353 1804 7475 if calling from abroad or 1800 656 001 if they have vulnerabilities.

Throughout this process, Ulster Bank also reminds customers that Ulster Bank will never ask you for passcodes or online banking details in a phone call, email or text - so be alert, as scammers and fraudsters may try to take advantage of the situation. Business customers can call us on 1800 818 375 or can call their dedicated relationship manager for assistance with moving their accounts.