Ulster Bank signposts next steps in closure
No branch closures until second half of 2022
Ulster Bank has signposted the next steps for customers ahead of its withdrawal from the Irish market next year.
The State’s third biggest lender, a brand synonymous with this region for 180 years, confirmed earlier this year the brand would soon disappear from the retail landscape in the 26 counties.
Today (October 29, 2021), Ulster Bank began by encouraging customers to get ready for those changes which will involve serving formal account closure notice on current account and deposit account customers commencing in early 2022. In advance of this, Ulster Bank is encouraging customers to consider their options, avail of supports and get ready to choose a new banking provider.
“Over the coming months we will engage with customers, including those who might need more support, to help them to get ready to choose a new provider,” said Ulster Bank in a statement.
“However, if customers are ready now, we are encouraging them to review their Ulster Bank accounts or make an appointment to review their Ulster Bank accounts. Ulster Bank reassures customers that they are not obliged to take any action right now and more details will follow in early 2022.”
In addition, changes to new business announced in July come into effect at close of business today.
For personal customers, Ulster Bank will cease to accept new applications from new and existing personal banking customers, with the main exception of mortgages which will remain available for existing customers only after that date.
For business customers, products and services remain available but for existing customers only. The exception to this is Lombard Asset Finance, which remains open for new and existing customers.
Ulster Bank do not anticipate closing any of its network of 88 branches in the first half of 2022.
Ulster Bank will eventually close its remaining three branches in Co Cavan, as well as others in Monaghan Town, Longford, Mullingar and Navan. Only former Ulster Bank branches in Ballyconnell and Ballyjamesduff will be saved, cherry-picked as among 25 locations to be traded to Permanent TSB as part of a new deal struck.
As communicated previously, in the second half of 2022 the bank will begin to phase out traditional counter/ cash services to concentrate on in-person support for customers to move bank and/ or close accounts.
Ulster Bank previously shut branches in Belturbet, Killeshandra, Kilnaleck, and a part-time operation in Swanlinbar in 2013, along with the bank’s branch in Castlepollard.
The following year branches in Clones and Castleblayney in Co Monaghan; Granard in Co Longford and Manorhamilton, Co Leitrim, also closed.
Then in 2017, the lender closed two more branches locally - this time in Arva and Cootehill.