Ulster Bank customers credit rating 'not affected'

Wednesday 27 June 2012 18.00
Ulster Bank ATM system now fully back in operation
Ulster Bank ATM system now fully back in operation

The Irish Credit Bureau has moved to reassure Ulster Bank customers that their credit ratings will not be unduly affected by the technical fault.

The Bureau is asking financial institutions to ensure that if there is a payment default from an Ulster Bank account, that the institution check before notifying the Bureau to ensure it is not related to the technical issues.

The Central Bank and Ulster Bank have also said they are working to ensure credit ratings are not hit.

Séamus Ó Tighearnaigh, chief executive of the Irish Credit Bureau said there was no issue for payments within Ulster Bank accounts, as the benefit of the doubt would be given.

However, he said they were working to ensure that if a payment defaults from an Ulster Bank account to another institution, checks were in place to only record genuine defaults.

The Irish Credit Bureau will offer free credit checks to Ulster Bank customers next month to reassure them that their ratings have not been unduly affected.

Meanwhile, the Consumers Association of Ireland has said the problem has been badly managed and customers are suffering.

Working 'around the clock' - Ulster Bank

In a statement this evening, Ulster Bank said "we continue to work around the clock to clear the backlog of payments caused by the RBS Group wide IT issue. We are making progress, which is increasing our confidence that we will restore a full service by the beginning of next week."

Earlier today, the bank's parent company, Royal Bank of Scotland, said that the vast majority of Nat West balances are up to date and its full focus is now on Ulster Bank.

RBS says it will be the beginning of next week before most Ulster Bank accounts are fully operational and it will take until the middle of the week for all accounts.

Ulster Bank says some accounts are functioning normally but a backlog of payments remains to be processed.

It is prioritising credit payments followed by standing orders and direct debits.

Other banks are also helping to push payments through the system.

The Department of Social Protection says another 60,000 welfare recipients with Ulster Bank accounts face a second week of difficulty in accessing money.

Eighty branches will remain open until 7pm this week with customers advised to bring payslips and ID to access funds.

The managing director of branch banking at Ulster Bank, Jim Ryan, said the ATM system is now fully back in operation.

He said that Ulster Bank customers who are in need of money due to delays over last week's technical glitch should visit their branches to make a claim.

'We know this disruption to our customers is unacceptable and we're committed to doing all we can to help as many of our customers as possible. The staff in our branches and call centres are doing everything possible to help customers,'' a statement from the bank said on its website today.

RBS cancels Wimbledon corporate hospitality

Royal Bank of Scotland has cancelled its corporate hospitality at Wimbledon, saying it was "inappropriate" to host clients at the tennis tournament while still dealing with the fallout of a severe computer glitch.

The state-rescued bank, whose IT meltdown has affected millions of its customers, had hosted clients at Wimbledon on the championship's opening two days and had planned to do so for the remainder of the two-week-long tournament.

"Technical issues have caused considerable disruption to many of our retail and business customers, as well as customers of other banks," Royal Bank of Scotland said in a statement issued last night.

"Under the circumstances, we felt it would be inappropriate to provide client hospitality at Wimbledon. Our people are focused on resuming normal service for our customers as soon as possible,'' it added.