Ulster Bank ordered to compensate customers

Ulster Bank has been ordered to compensate any customers affected by its IT systems crash — which could last into the second half of this month.

On the 16th day of the chaos, which the firm with 1.9m customers now admits has affected “significantly more” than the 100,000 repeatedly suggested, Central Bank officials told the bank it must compensate customers. However, Ulster has yet to provide new details on what this “compensation” means.

Chief executive Jim Brown said the customer apology measure would include covering charges and any credit issues which might arise. Both of these issues have previously been put forward by the firm, and dismissed by customers as just covering costs not of their own making — meaning it is not real compensation.