Ulster Bank owner outlines ‘refund plans’ for UK customers

Ulster Bank customers are unlikely to receive compensation in addition to covering costs caused by the bank’s computer crisis, if the wider RBS Group’s plan is followed.

In an open letter to Royal Bank of Scotland and NatWest yesterday, the group’s chief executive Stephen Hester outlined what he termed “refund plans” for the firms.

However, despite public statements in recent days of how customers whose work and private lives have been damaged by the banking scandal will receive compensation, this was not outlined.