Ulster/RBS Bank problems

travellinglight_2

TBH I do not believe a word of it and can't wait to leave -that's why I want it sorted... but where to go? Are they all not as bad as eachother??

Contemplates

What are people's views... Is it better to wait until this is sorted to switch banks, or are you already on the ball and have started the switching process already?

I've already chosen Halifax as my new account holder but m wondering if switching now will cause more headaches than it would to wait until this fiasco has been sorted?

NAR

You won't be able to close your account until the mess is sorted out, so I suggest you wait a couple of weeks.

HeadAboveWater

...or stick to stashing your cash under your mattress

falko89

Contemplates wrote: »

What are people's views... Is it better to wait until this is sorted to switch banks, or are you already on the ball and have started the switching process already?

I've already chosen Halifax as my new account holder but m wondering if switching now will cause more headaches than it would to wait until this fiasco has been sorted?

I had an old account with Alliance and Leicester so I got that back in action again, got wages etc all changed over to it. I know at work 90% of people who bank with Ulsterbank have got there wages switched over to another bank, This is gonna hit Ulster Bank hard.

chunter

Seems astonishing that Ulster Bank are still humiliating people after two weeks. customers still have to go in and literally beg to be given their own money.

Death of a bank, I would predict.

falko89

chunter wrote: »

Seems astonishing that Ulster Bank are still humiliating people after two weeks. customers still have to go in and literally beg to be given their own money.

Death of a bank, I would predict.

It has to be surely, Who will stay with them after this fiasco, OK its never happened before but thats not the point, we are treated like crap.

spike7451

They reckon next week now..The fact they're extending opening hours up to & including Friday suggests that.

http://www.ulsterbank.co.uk/ni/personal/generic/service-update.ashx#q7

It's fast looking like I'll have to use the money I left in my account from my last ESA payment, to cover the advance of wages I took over the counter when this kicked off,to live on if my ESA does not go in on time again this week.

Suplex_Backbreaker

Contemplates wrote: »

What are people's views... Is it better to wait until this is sorted to switch banks, or are you already on the ball and have started the switching process already?

I've already chosen Halifax as my new account holder but m wondering if switching now will cause more headaches than it would to wait until this fiasco has been sorted?

I'd wait until the mess is sorted out and see what enticements they are going to make to try to retain custom. If you are a saver, there might be some good interest rate deals.

Also, they have quite a decent 'premium' current account service that you normally have to pay for. They might offer it free for a year or something like that. Or maybe offer some interest on current accounts.

Then again, RBS might wind the whole sad mess down as soon as it is back in sync. Would be a shame for the frontline staff who have worked extremely hard. I'm sure that the management 'talent' will have made sure that they do OK themselves though.


The lessons people need to be learning from this is that money in the bank is not literally money in the bank... You give the bank your money, they give you a note of credit in return.

If they are unable to honour this credit for any reason, you essentially have nothing. This is the same with all banks. There is a real counterparty risk you assume when lending your money to a bank and you should make sure that you are adequately compensated for this risk (as well as inflation) and protected financially should there be problems with them honouring their credit note.

cottager

Stephen Hester:

“I want to apologise to our Ulster Bank customers for the significant inconvenience caused by these technology problems” he said.

“I recognise that being sorry is not enough; we believe we have fixed the initial problem and are now making inroads in catching up with the knock-on effects to our customers in Ulster Bank”.

“We recognise that we are important to Ireland. And Ireland is important to us. We have been steadfast in supporting customers in Ulster Bank through the financial crisis, maintaining a full banking service as others have left the banking market. We will continue to meet our responsibilities and ensure we restore normal support to our customers” he added.

[see http://www.newstalk.ie/2012/news/ulster-bank-says-accounts-will-be-brought-up-to-date-this-week/ ]