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MSE News: Ulster Bank reveals compensation for meltdown victims

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"Ulster will return all charges and interest it levied, and any knock-on costs incurred ..."
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So if you live in the country & have to travel to your nearest branch that is open,say a thirty mile trip each way,& have to do this three times,then this twenty quid will barely cover your petrol!
I will be looking round for the best deal. I will keep the account open with a minimal amount in it, just to cost them as much as possible to administer it!
Santander sent me a debit card with a Typo in my name and gave me £50 for the inconvenience. They gave me £100 when they accidently sent my statement to the wrong person.
And for having no access to funds for a month and having to queue in the rain for an hour Ulsterbank give £20. Wouldn't even cover the cost of the extra petrol used to go to the branch.
It is likely that new Terms and Conditions for accounts will refuse liability if their service came under attack, so availability is on a best effort basis.
It is therefore advisable to have an extra account as backup.
You need to have some extra money of course.
That's the problem with backup systems, it's money sitting idle, like a hospital generator, but it saves lives when it kicks in.
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Seems an odd way of looking at things to me.
One massive error in 42 years? Sounds pretty good going I would have thought.
And surely they are now one of the safer banks to use since they will never allow themselves to get into this sort of situation again. Switch to another bank and who knows what will happen?
And surely they are now one of the safer banks to use since they will never allow themselves to get into this sort of situation again. Switch to another bank and who knows what will happen?[/QUOTE]
I have been toying with this idea since all this happened - and I see that now Northern Bank customers are experiencing difficulties with their accounts this morning. Nationwide had problems with duplicate payments etc not long after the Ulster Bank one and the reputations of the likes of Barclays and Santander with scandals and reports of appalling customer service - is it a case for "better the devil you know"?
However I do accept what you are saying that all the banks could have problems.