‘Poignant’ moment as Ulster Bank all branches to close in April via IrishTimesBiz
A further 77 per cent of Ulster Bank business and commercial accounts have either closed, materially wound down the level of activity in their current account to five or less transactions, or left it inactive.
The bank’s 63 remaining branches in the Republic of Ireland will cease transactions on March 31st and close their doors for the last time on April 21st. In January, 25 Ulster Bank branches closed as part of the transaction with Permanent TSB, and are reopening as Permanent TSB branches.
It said it expects to open another voluntary redundancy programme next month with further redundancy programmes later this year as the work continues to reduce or cease. All current and deposit accounts that have passed their six month notice period are now queued for closure, with the exception of known vulnerable customers and customers in receipt of Social Protection payments. The Bank will commence the freezing of personal and commercial customer accounts with higher levels of activity on or after 2nd February, 2023.An account is frozen for a period of 30 days and unless a request is made by the customer to access the account, it is then closed.
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