The first Athlone and Midlands region customers who received their six month notice in April 2022, will begin to see their current and deposit accounts frozen on or after November 11 and close 30 days later, beginning with customers who we believe have low reliance on these accounts or may have accounts elsewhere.
Ulster Bank is encouraging customers who have not yet taken action to begin the process to choose a new provider, move their transactions and close their current and deposit accounts within their notice period.
In line with Ulster Bank’s commitment to withdraw in an orderly manner, the Bank is commencing this process in a careful and controlled way, beginning with those whom Ulster Bank believes are no longer reliant on their accounts.
Over 70% of Ulster Bank personal current account customers who received their first formal notification in April and May, have either closed, materially wound down the level of activity in their current account or left it inactive. This trend is increasing every day.
Ulster Bank will also be taking proactive steps to reach out again to the following groups of customers to offer further support and these higher reliance accounts will not be frozen at this time:
Personal or Commercial current account customers with six or more transactions in the last 30 days;
Personal current or deposit account customers who have received a social protection payment in the last 30 days;
Personal current or deposit account customers in receipt of an inbound payment of €125 or more, in the last 30 days (as this may be their wages );
Commercial current accounts with a reliance on an 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 where a customer needs more support, which may or may not mean more time, we can and are keen to provide that – they just need to let us know what they need. This phased approach to overall closure of accounts is managed to maintain an orderly process for customers, the industry and other key stakeholders.
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 us on 1800 818 375 or can call their dedicated relationship manager for assistance with moving their accounts.
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.
Ulster Bank will also pause account freezing from December 9 2022 restarting on or after January 6 2023 to ensure that no new accounts are frozen over the Christmas period. In this time period, personal closures will proceed with those who were already frozen prior to December 9, and did not engage with us to request an extension.
