Ulster Bank compensation claims continue

Published Monday, 23 July 2012
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More than a month after computer systems at Ulster Bank were hit by major technical issues, many customers are still trying to work out what compensation they might be entitled to and how to claim.

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While the glitches have been resolved and most of the subsequent backlog of transactions has now been cleared, those left out of pocket or otherwise inconvenienced are confused by what to do next.

The Financial Ombudsman has been faced with a lot of questions in the wake of the unprecedented disruption to services and has now released a factsheet to help those affected.

It urges people to contact their bank in the first instant, but can step in if that doesn't see the situation resolved to their satisfaction.

The Financial Ombudsman can then decide what's fair in each case and can order the bank to make sure the customer isn't out of pocket, recognise any inconvenience, or correct credit files.

Affected customers are advised to avoid lengthy letters and instead provide their bank with a concise list of key facts and figures, ideally complete with any paperwork which backs up the claims.

Claims can be made in relation to fees, charges and fines.

That means anyone who had charges applied if, for example, they became overdrawn because their wages were late going into their account could make a claim.

They could also claim if charges were incurred because of a late payment to another party - like a landlord, mortgage provider or credit card company.

Claims can also be made over 'extra costs' incurred - anything from phone bills and the cost of travel or parking, to larger costs such as legal bills if a house purchase was delayed.

'Knock-on losses' could also be a reason to claim.

That means anyone who lost interest on a savings account could qualify, or small business owners could claim if their trade has been affected by disruption to business accounts.

But not all losses have to be financial.

According to the Financial Ombudsman, people who suffered stress or inconvenience could also make a claim.

That means anyone who was perhaps embarrassed by not being able to repay a debt or who perhaps had to take time off work to deal with the banking problems could also be in line for compensation.

EXTERNAL LINKS / CONTACTS
Ulster Bank branch hours have returned to normal and the bank insists it is now "business as usual" for the majority of customers. Details of its compensation scheme have not yet been released.
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41 Comments
SUFTUM in Belfast wrote (298 days ago):
Andrew in Larne - Liam in Belfast, says it all really...both of you have nothing better to do than complain because Judge Judy told you to. Looking at the time of your posts, Id say you both had just put on your 3rd cuppa tea for the day to switch over to the racing channel....idiots....get out there to the real world boys or you will both stay closed off and bitter...
James in Belfasy wrote (298 days ago):
Compensation compensation compensation...too many of you have been watching judge Judy while waiting for your benefit cheques. Northern Ireland used to be a proud sort of people, who, when something bad happened a local business or indeed anything, they got together and put their heads down and got on with it. All we hear now is compensation, ambulance chasing, claims, he did this, or he did that. The businesses got behind Ulster Bank because they knew that things happen in the world, but not the closed minded wee NI next generation....watching too much TV people, get off your backsides, and get into a world were you stop pointing the finger and help each other.
Andrew in Larne wrote (298 days ago):
Iain I think you are the clueless one rather than Liam. Withdrawing money wasn't really the issue. But when direct debits and standing orders such a Mortgage or Rent payments are not being processed and people credit ratings are being affected I think it is only fair for customers to be compensated. The fact of the matter is that most Ulster Bank customers pay for a service whether its directly through Banking Fees or indirectly through interest payments or charges. If people are not able to access the servicesfor which they are paying then it is only fair for people to expect some sort of compensation. Banks are the type of institution that Give you an Umbrella when its sunny and then ask for it back when it starts to rain.
more hard luck news in belfast wrote (298 days ago):
bobbi in belfast, i am sure lots of people have had holidays ruined by this glitch and they deserve compensation?a lot of people forget that customers pay for the use of ulster bank facilities and were denied the use of them, therefore they did not get the service that they paid for, hence the compensation, its not rocket science.
Bobbi in Belfast wrote (301 days ago):
Never mind the people who stood in queues for an hour, or wasted a few quid on petrol. My parents were stranded abroad for almost 4wks with barely any money. I had to organise money transfer with western union to get them by. They were away in Europe for almost 4wks the whole time they couldnt withdraw money. Its a good thing Im with Nationwide and I was able to help them out. If I had been with Ulster bank they would have been well and truly up s*** street. Quit your moaning and try being in my parents situation then u can complain. They arent banging on about compo, they are just relieved to be home
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