It met with business representative groups today to update them on the process and to advise them of supports available to customers in closing their current and deposit accounts.
Ulster Bank said that all customers who have received their closure notice, need to choose a new provider, move their balances and transactions and close their current and deposit accounts. "We understand also that many customers will choose to keep their account open during their period of transition to a new provider," Ulster Bank said.
Ulster Bank's personal customers are also encouraged to act sooner rather than later when they receive their notice date for current and deposit accounts. The Central Bank is monitoring the process of customers transitions from both departing banks to new providers, to ensure customer rights are protected.
"We are also conscious of how this might impact company dealings with the Office of the Revenue Commissioners with the Revenue Pay and File deadline approaching in October," the Ulster Bank CEO said.