Ulster Bank has announced updates to its phased withdrawal from the Irish market, with new information about its remaining branches, redundancy packages and the status of its remaining current and deposit accounts.
With the timeline for Ulster Bank’s exit from the Irish market nearing completion, the soon-to-be departing bank has revealed a number of new updates to its exit process.
What is happening to Ulster Bank branches?
Ulster Bank has announced that its 63 remaining branches in the Republic will cease transactions on 31st March. This means customers will no longer be able to make cash or cheque lodgements at the counter or through self-service machines or make any form of withdrawal at an Ulster Bank branch (except for ATM services) after this date.
This follows the move of some 25 Ulster Bank branches to Permanent TSB in January as part of a €25 million investment.
All Ulster Bank branches including ATM services will then permanently shut on 21st April.
From the period from 1st to 21st April, staff will “be fully focused on supporting any remaining personal and business customers to move to a new banking provider and close their accounts”, the bank said in a statement.
Ulster Bank has also said that customers will no longer be able to access Ulster Bank services through An Post branches from 31st March.
The branches that are closing are as follows:
|
Carlow Town |
Ballsbridge (Dublin) |
Malahide (Dublin) |
Killarney (Kerry) |
Dundalk (Louth) |
Dungarvan (Waterford) |
|
Cavan Town |
Camden St (Dublin) |
O'Connell St (Dublin) |
Tralee (Kerry) |
Ballina (Mayo) |
Waterford City |
|
Ennis (Clare) |
Clondalkin (Dublin) |
Palmerstown (Dublin) |
Naas (Kildare) |
Castlebar (Mayo) |
Athlone (Westmeath) |
|
Bandon (Cork) |
College Green (Dublin) |
Phibsborough (Dublin) |
Newbridge (Kildare) |
Claremorris (Mayo) |
Mullingar (Westmeath) |
|
Douglas (Cork) |
Coolock (Dublin) |
Raheny (Dublin) |
Maynooth (Kildare) |
Navan (Meath) |
Gorey (Wexford) |
|
Mallow (Cork) |
Dublin Airport |
Stillorgan (Dublin) |
Kilkenny City |
Monaghan Town |
Wexford Town |
|
Midleton (Cork) |
Dun Laoghaire |
Swords (Dublin) |
Portlaoise (Laois) |
Tullamore (Offaly) |
Blessington (Wicklow) |
|
Patrick Street (Cork) |
Dundrum (Dublin) |
Tallaght (Dublin) |
Dooradoyle (Limerick) |
Roscommon Town |
Bray (Wicklow) |
|
Winthrop Street (Cork) |
Finglas (Dublin) |
Terenure (Dublin) |
Limerick City |
Sligo Town |
|
|
Letterkenny (Donegal) |
Grafton Street (Dublin) |
Walkinstown Cross (Dublin) |
Longford Town |
Clonmel (Tipperary) |
|
|
Baggot Street (Dublin) |
Liffey Valley (Dublin) |
Tuam Road (Galway) |
Drogheda (Louth) |
Nenagh (Tipperary) |
Branches that already transitioned to Permanent TSB in January include:
|
Ardee |
Athenry |
Ballyjamesduff |
Ballybofey |
Blackrock |
|
Ballyconnell |
Belmullet |
Blanchardstown Village |
Buncranna |
Celbridge |
|
Donegal |
Enniscorthy |
Eyre Square |
Kilcock |
Killybegs |
|
Lucan |
Ranelagh |
Rochestown Avenue |
Shannon |
Swords Pavilions |
|
Thurles |
Trim |
Tuam |
Westport |
Wilton |
What is happening to Ulster Bank staff?
Ulster Bank has said that it anticipates around 600 staff will leave through two separate voluntary redundancy packages that it announced in November of last year.
An unconfirmed number of employees have already transferred to AIB or Permanent TSB through the transfer of undertakings (also known as TUPE) that was enabled following the sale of Ulster Bank mortgages to the two banks.
Ulster Bank has said that it expects to offer another round of voluntary redundancies in February, as well as “further redundancy programmes later in 2023 and beyond as the work continues to reduce or cease”.
What is happening with Ulster Bank accounts?
Ulster Bank has announced that 90% of its personal current accounts are either closed, are inactive or are down to five or fewer transactions, with this figure rising to 94% when personal deposit accounts are accounted for.
77% of business/commercial accounts are also either closed, inactive or wound down to five transactions.
The bank has also announced:
- All current or deposit accounts that have passed their six month notice period are queued closure, apart from vulnerable customers or those in receipt of a social welfare payment to their Ulster Bank account.
- It will commence the freezing of high-activity accounts from the 2nd of February.
- Accounts are frozen for 30 days, and unless a request is made by the customer to access the account, it is then closed.
Ulster Bank staff are on hand to help customers switch banking providers.
Find a new current account
Are you an Ulster Bank customer looking for a new home for your banking needs? Use our current account comparison tool to find an account that ticks all of your boxes.
You can also learn all about how to switch your current account here and discover 8 things to consider when choosing a new current account provider here.
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