Ulster Bank has warned customers across Louth that they will begin freezing checking and deposit accounts from this weekend.
For the first customers who received their six-month notice period in April 2022, their checking and deposit accounts will be frozen on or after November 11 and closed 30 days later, starting with customers who have little reliance on those accounts or accounts elsewhere to have.
Ulster Bank chief executive Jane Howard said customers should act now.
“Ulster Bank encourages customers who have not yet taken action to begin the process to choose a new provider, postpone their transactions and close their current and deposit accounts within their notice period.”
“In line with Ulster Bank’s commitment to orderly withdrawal, the bank is beginning this process in a cautious and controlled manner, starting with those who Ulster Bank believes no longer depend on their accounts. Over 70% of Ulster Bank’s personal current account customers who received their first formal notification in April and May have either closed their current account, significantly reduced activity levels or left it dormant. This trend is increasing every day.”
Ulster Bank will also be taking proactive steps to re-engage with the following customer groups to offer further support and these higher reliability accounts will not be frozen at this time: Residential or commercial current account customers with six or more transactions in the last 30 days; Personal checking or deposit customers who have received a Social Security payment in the last 30 days; Retail customers with a current or deposit account who have received an incoming payment of €125 or more in the last 30 days (as this may be their salary); Commercial current accounts with a risk of overdraft and an account turnover of more than €1,000 in the last 30 days.
“This precautionary, careful and controlled approach of freezing an account 30 days before closure means that if a customer needs more support, which may or may not mean more time, we can and do – they just have to let us know what they need. This phased approach to overall account closures is managed to maintain an orderly process for customers, the industry and other key stakeholders,” said the CEO.
Customers can contact Ulster Bank on 0818 210 260 or 00353 1804 7475 if calling from abroad, or 1800 656 001 if they have vulnerabilities. Business customers can call 1800.818.375 or call their dedicated account manager for assistance transferring their accounts. During this process Ulster Bank also reminds its customers that Ulster Bank will never ask you for passwords or online banking details in a phone call, email or SMS. So be vigilant as scammers and scammers might try to take advantage of the situation.
Ulster Bank will also suspend the freezing of accounts from 9 December 2022 and resume on or after 6 January 2023 to ensure no new accounts are frozen over the Christmas period. During this period, people who were already frozen before December 9th and did not request an extension will be closed.
The bank also confirmed branch closures across Louth will begin in January.
https://www.independent.ie/regionals/louth/news/ulster-bank-warn-louth-customers-to-take-action-ahead-of-closure-42136554.html Ulster Bank is warning Louth customers to take action ahead of the closure