Monday, July 16, 2012

latest statement from Ulster Bank

Dear Deputy Doherty

Please see below for your information our latest statement, which provides an update in relation to our systems and also the guiding principles that will be applied to impacted customers.
External Statement: 16 July 2012

Jim Brown Chief Executive, Ulster Bank;

“All of our systems are running as normal this morning in the timeframes we would expect and normal service has now been restored for the majority of our customers. Given the scale of the incident, the clean up continues and a small percentage of outstanding transactions are being processed over the next couple of days. There is no doubt that there will be reconciliations to some customer accounts that also need to take place over the coming days and weeks. However, for the majority of customers it is now business as usual.
As normal service resumes for our customers, we are beginning the job of ensuring that customers who have been adversely impacted by this issue are put back to where they would have been had this problem not occurred. The following four principles are guiding what we will do:
Refunding fees & charges:

We will fully refund all fees and charges* incurred by Ulster Bank customers or customers of other banks as a result of this issue. Fees and charges directly under our control will be reversed automatically and we have already started this process. We are working closely with other banks to put a similar process in place.

2)      Out of pocket expenses:
No customer will be out of pocket as a result of this issue. For customers wishing to make a claim for any out-of-pocket* expenses incurred, we will launch a comprehensive process later this week so anyone impacted will fully understand how to progress any claims they may have as a result of this issue.

3) Credit ratings:
We know that this is a significant concern for customers and we are working with the credit reference agencies to ensure that no customer's credit rating is affected as a result of this incident.

4) Recognition of inconvenience caused:

We understand that this issue has caused significant and unacceptable disruption and we are introducing a range of measures to recognise the impact it has had on customers’ day-to-day banking needs. We are currently consulting with regulators and consumer groups and will be in a position to communicate further details by the end of this week.
Our dedicated helpdesk remains open 8am to 10pm to take your call on 1800 205 100. If you are calling from abroad, please call +353 9156 2910.
I apologise unreservedly to our customers for the inconvenience we have caused to them as a result of this unprecedented incident and thank them for their continued patience. Our priority throughout has been on resolving this for our customers and helping those affected.”

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