Ulster Bank Customers Still Waiting For Compensation News

Millions of Ulster Bank customers are still waiting to hear how they will be compensated for the inconvenience resulting from bank glitches that left them unable to access the money in their accounts.

Thousands of customers lost out on cash when a technical problem on June 19 left accounts frozen for a month.

On July 16, an official letter on the company's website stated that full details would be released "shortly".

And more recently, head of retail banking Stephen Cruise said details of compensation would be made public last week.

But as yet, the only announcement that has been forthcoming was a statement from Ulster Bank saying it would "provide details to our customers as soon as we can".

Stormont finance committee chairman Daithi McKay said the Ulster Bank's communication skills were "absolutely appalling".

He accused the bank of mishandling its recent crisis to "an incredible degree" and said: "The Ulster Bank have had more than enough time.

"People are in need of some direction as to what is happening. This is affecting other banks and businesses. There has been no leadership with providing clarification and they need to be coming out and getting the work done."

The bank promised that no customer would be left out of pocket by the account balance chaos, and said it was "working closely" with credit agencies to make sure customers' credit ratings would not be affected.

(NE)