Ulster Bank warns its 75,000 credit card customers about €30 duty tax   

Bank will write to customers about its closure plans

Ulster Bank has stepped up its warnings to customers about its closure plans.

Ulster Bank stepped up its warnings to customers about its closure plans and for the first time set a date to close down its credit card operations.

The NatWest-owned lender shocked customers last year when it confirmed plans to shut its doors to banking in the Republic. That started a scramble for households and business account holders to switch from the third-largest lender in the local market to rival banks. 

KBC Bank Ireland subsequently increased the pain by announcing that it too was closing its doors. 

'Doing all they can'

Bank chiefs insist they are doing all they can to help customers to move to new banks.         

Ulster Bank said in a new advisory statement on Tuesday that it now plans to write in September warning its 75,000 personal credit card customers they will have to close or switch their cards within six months or "their card will no longer work" by March next year.

The bank said it recognised "that some customers may not be able to clear their balance within six months and will work with customers on a case-by-case basis for individual plans". 

"Before closing their Ulster Bank credit card, customers should ensure all recurring transactions have moved successfully to their new card and ensure they have sufficient funds to cover the Government stamp duty (€30), which will be applied upon closure of the account," it said.