Ulster Bank customers set to switch to rivals

Furious Ulster Bank customers look set to ignore pleas to stay loyal with the firm, by jumping ship to rival financial institutions.

A number of Irish banks have confirmed they have been contacted by a growing number of people who have lost patience with the crisis company’s inability to solve their computer glitch.

In a statement to the Irish Examiner, Bank of Ireland said it has “seen interest” from Ulster Bank customers in recent days.

However, it added: “We cannot comment on the number of customers requesting to switch from Ulster at this time, as customers are unable to commence the switching process until their accounts are fully updated.”

Other rival banks such as AIB are also understood to have been contacted by Ulster Bank customers looking to switch.

If the en masse departure takes place, it will contradict claims to this newspaper by Ulster Bank chief executive Jim Brown last week that customers would stay loyal.

The situation came as the bank failed to respond to queries over whether it has mistakenly taken duplicate personal loan payments from an unspecified number of accounts since the debacle began 16 days ago.

The issue has been confirmed at Ulster Bank’s two sister firms, Royal Bank of Scotland and NatWest.

However, a spokesperson failed to respond to the latest revelation despite a number of conversations over the phone.

Despite repeated claims by Ulster Bank that the wider computer crisis is being resolved, the firm is still unable to reveal exactly how many accounts have been fully fixed.

It is also still refusing to be drawn on whether Mr Brown will forgo any potential bonus this year — drawing yet more anger from customers — or when exactly the problems will be resolved.

This is despite the fact that RBS Group CEO Stephen Hester will refuse a bonus this year due to the scandal, and has said other management team members will also be held accountable on bonuses.

Meanwhile, Ulster Bank’s head of retail banking, Stephen Cruise, has rejected claims the firm has been “economical with the truth”. He told BBC Radio Ulster the current crisis is “unprecedented”, but insisted the firm did not attempt to mislead people with its initial resolution timelines.

Ulster Bank is writing to each of its customers in a bid to convince them to stay. However, the Consumer Association of Ireland has warned the firm it has been contacted by “many, many thousands” of people who have lost patience with its recent practices.

The crisis will be the subject of Oireachtas Finance Committee meetings with the Central Bank and Ulster Bank today and tomorrow.

‘The staff are doing all they can’

* Anna McAuliffe: “I have been having trouble accessing funds for three weeks now and every time I ask they always say that it will be fixed next week.

“I do feel sorry for the staff. They are polite and are doing a lot to ease the situation for people, but I will be moving bank as soon as the situation gets fixed and I’m able to get my money.

“I know a lot of people aren’t going to leave, but maybe they are more loyal to Ulster Bank than I am.

“I have not been majorly inconvenienced by this, but one day I had to go to Mitchelstown to get to a branch and get my money. I’d prefer to be doing other things with my time.”

* Críona Gavin: “I should have been paid a while back and I am leaving for Russia on Saturday with my mother to visit my brother, so I’m really hoping that it gets fixed before then.

“I feel bad for the people working in there. They are lovely. I lost my payslip before and they are doing everything they can to make things better. I know what it’s like to work in customer support and they were really landed in the frontlines.

“I’m not going to leave Ulster Bank, because I have banked with AIB and Bank of Ireland before and I find them rude. I think that Ulster Bank is the best bank and they have dealt with the situation very well.”

* Francesco Grassato: “I could not pay my rent and now my account is overdrawn by over €500. I have nothing in my account and I usually rotate accounts.

“I have been having these troubles since June 18 and every time I need money from the other account I have to come into one of the branches.

“I’m still going to stay with Ulster Bank when I can get full access. I have had issues with AIB before as well.”

* Helen Cronin: “My husband was a banker, but he was an honest banker. I notice that it’s an awful lot slower to be fixed in Ireland than it would in England.

“I think that is because of David Cameron. He is an honest man.

I don’t think that a lot of people will leave Ulster Bank. Theircustomer support is good. They are helpful and concerned.

“No other bank has the same level of personal attention.”

* Jean Michel: “I have not been able to access my account since last week. They said that it would be fixed by Monday, but no. They have no idea.

“It is really inconveniencing me now. I would prefer not to have to go to the bank branch every time I need money.

“I am definitely considering moving now, but if they get it fixed soon, I’ll stay.”

* Vox pops outside Winthrop St branch of Ulster Bank, Cork.

— Jason Kennedy