Ulster Bank update for personal and current and deposit account holders

[Brendan Burgess]

see attached

Your ufirstgold account comes with a range of additional benefits. Once your
ufirstgold account is closed, you will no longer have access to the following
benefits:
•
Interest free overdraft
• Preferential overdraft rates
•
Interest when your account is in credit
• Car Insurance discount***
• Worldwide Travel Insurance ***
• Commission Free Travel Money
• Airport Lounge Membership
• Travel Service
• Ticket Booking Service
Discounted mortgage rates are al

 

[Freelance]

Article by Joe Brennan on the Irish Times Website

Ulster Bank starts giving six months’ notice to account holders to move

Customers not obliged to take any action until they receive letter or email, bank says

www.irishtimes.com

Sippets:

Ulster Bank said on Wednesday that it has formally begun writing to groups of current and deposit account customers to give them six months’ notice to move their business to another provider and close their accounts.

The bank said it is sending out letters and emails on a phased basis to different groups of customers, “to help to facilitate orderly account switching and new account opening across the industry and to avoid a single closure date for customers and the industry”.

The main concern is around the handling of the opening of current accounts with new providers, together with their attending direct debits, standing orders and regular payments. Even in cases where existing direct debit arrangements can move in theory under a Central Bank switching code, many direct debit originators and receivers will only take instructions directly from their customers, according to banking industry officials.