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Ulster Bank customers unable to switch to rivals

Ulster Bank can’t complete customers’ requests to switch their accounts to other banks because thousands of accounts have yet to be fully reconciled.

A number of accounts believed to be somewhere in the low thousands have yet to be fully rectified.

A spokesperson for the bank said that they cannot complete the switching process until all accounts are fully up to date.

“Due to a small number of outstanding reconciliations, Ulster Bank cannot currently complete the switching process, however we have not seen a significant level of requests to switch,” a spokesperson for the bank said.

Ulster Bank customers can register their intention to change their accounts to another bank but the switch will not be completed until all accounts in the bank have been fully updated.

Since Jun 20 Ulster Bank has been dogged with problems with customers unable to pay bills, access their accounts or even withdraw their savings following a technical glitch at the bank’s parent company, Royal Bank of Scotland.

Most accounts with Ulster Bank have been restored to fully functioning status since Jul 16.

It was widely expected that a number of customers would leave the bank once they found themselves in a position to do so.

Bank of Ireland and Permanent TSB both said that they had seen a significant increase in the number of customers looking to switch their banking operations from Ulster Bank to rival banks.

A spokesperson for PTSB said: “We have seen a significant increase in enquiries from customers of Ulster Bank in this regard.”

Bank of Ireland also said they had seen a significant spike in the number of people looking to switch their accounts.

AIB had no comment to make.

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