Ulster Bank 'looking at compensation' for customers after technical debacle

The CEO of Ulster Bank has said the organisation is considering compensating its customers over its technical debacle.

The crisis caused by a computer fault began a fortnight ago and affected tens of thousands of accounts.

The bank said it expected its services to be back to normal for most customers by the week after next (beginning July 16).

Ulster Bank CEO Jim Brown said the matter of compensation was still under consideration.

"No customer will be out of pocket as a result of these issues," he said. "The same applies to their credit records. We're working with the credit agencies to make sure there are no issues (with customers' credit records).

"We are looking at compensation. We haven't finalised that yet - it will take us a another couple of days to work through.

"The key point I'd like to make is that customers will definitely not be out of pocket as a result of this."