04/07/2012
'£50,000 Disappeared' From Belfast Firm - Ulster Bank Crisis
A businessman has claimed he is £50,000 short and suffering cash flow problems due to the ongoing accounts crisis at Ulster Bank.
James Conlon runs NIAVAC, an audiovisuals sales and maintenance company based off the Castlereagh Road in east Belfast.
It counts among its recent clients the Giant’s Causeway visitor centre, the Crescent Arts Centre and the MAC arts venue.
Mr Conlon said tens of thousands of pounds in electronic payments have "disappeared" from his business due to the problems at Ulster Bank, where over the past two weeks customers have been unable to access up-to-date account balances.
The situation was sparked by a technical glitch at RBS Group, which owns Ulster Bank, and a backlog here got longer while employees concentrated on putting RBS and NatWest accounts right.
Mr Conlon called on politicians to take action to help small businesses like his.
He said: "We have had electronic payments promised through to us over this past two weeks - over £50,000 worth - that have just disappeared completely. Ulster Bank are saying 'we'll come back to you when we know more' and that's the only line we have over the past 10 days or more."
Northern Ireland MPs are set to meet senior RBS executives today, but Mr Colon said: "I believe that they need to really wake up to what's happening here. I don't believe they have an inkling of how it's hurting the small businesses and people who are just about to head off on their holidays."
(NE)
James Conlon runs NIAVAC, an audiovisuals sales and maintenance company based off the Castlereagh Road in east Belfast.
It counts among its recent clients the Giant’s Causeway visitor centre, the Crescent Arts Centre and the MAC arts venue.
Mr Conlon said tens of thousands of pounds in electronic payments have "disappeared" from his business due to the problems at Ulster Bank, where over the past two weeks customers have been unable to access up-to-date account balances.
The situation was sparked by a technical glitch at RBS Group, which owns Ulster Bank, and a backlog here got longer while employees concentrated on putting RBS and NatWest accounts right.
Mr Conlon called on politicians to take action to help small businesses like his.
He said: "We have had electronic payments promised through to us over this past two weeks - over £50,000 worth - that have just disappeared completely. Ulster Bank are saying 'we'll come back to you when we know more' and that's the only line we have over the past 10 days or more."
Northern Ireland MPs are set to meet senior RBS executives today, but Mr Colon said: "I believe that they need to really wake up to what's happening here. I don't believe they have an inkling of how it's hurting the small businesses and people who are just about to head off on their holidays."
(NE)
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Northern Ireland WeatherToday:A sunny but frosty start for many. However cloud increases by midday with a few showers reaching the north coast, these mostly light but spreading inland this afternoon. Chilly. Maximum temperature 8 °C.Tonight:A rather cloudy evening with scattered showers. Becoming drier through the night with some good clear spells developing and a patchy frost away from coasts. Minimum temperature 0 °C.