Ulster Bank accounts will be frozen from Friday

Ulster Bank will start freezing customer accounts from this Friday, the bank has reminded customers.

The company is withdrawing from the Irish market and customers have been officially warned that they must close their accounts.

“Customers who were told in April they had six months to move their accounts will start to see those accounts frozen from the end of the week,” said Conor Pope, a mainstream reporter at the irish weather, Told The hard shoulder.

“Once the accounts are frozen, they will be officially closed 30 days later.”

Mr Pope says anyone whose account is at risk of being closed should ‘not panic’ and instead contact Ulster Bank and ask for an extension.

Anyone with money in a closed account will have the money refunded, but they should make sure their current address is correct.

“Once the account is closed, the bank will send you a check for any net outstanding balance, but will send it to the last known address,” Mr Pope said.

“So it might be fine for someone who created an account and still lives at their current address… [but] many people could end up with deposit accounts with outdated addresses. »

WP3MYA Ulsterbank branch in Ashe Street, Tralee, Co Kerry, Ireland

The bank will close the least used accounts first but will exclude any account that has received a social protection payment in the last 30 days.

“This careful and controlled approach means that where a customer is still dependent on the current account, we can and will support them to move to a new banking provider. This will also serve to maintain an orderly process for industry customers and other stakeholders. keys,” the bank said in a statement.

“While we will continue to contact customers who are still using their account, unless a customer engages with us to change the date, their account will enter the freeze and close process on the original date or after.”

Anyone with concerns or questions can contact Ulster Bank on 0818 210 260.

Main image: An ATM at a branch of Ulster Bank in Raheny, Dublin.