Departing bank extends deadline for customers before accounts are frozen

Ulster Bank has confirmed that it is extending the deadline for customers whose accounts are due to become non-operational this week by an extra month. 

The bank announced its withdrawal from the Irish market in February. In April, it contacted customers to give them a six-month notice period to close their accounts.

Non-operational accounts are frozen to transactions, before closing 30 days later.

The first customers to receive their six-month notice period are due to see that elapse this Saturday, October 8. 

However, Ulster Bank has said it has taken the decision move the process of making these accounts non-operational to on or after 4 November, four weeks later than originally planned. 

The bank said the change of date will facilitate the application of the majority of the Department of Social Protection’s additional payments, announced in last week's Budget. 

Of the customers who received their first formal notification in April and May, almost two-thirds (64%) have either closed or wound down their current account or left it approaching inactive or dormant, according to Ulster Bank. 

"It is the right thing to do, to ensure that there are no unintended impacts on customers in receipt of these particular payments," Ulster Bank said in a statement.

"During this time, customers should continue to take steps to move or close their accounts," the bank said.