Ulster Bank Closing down?

Buford T. Justice XIX

I just came across this now.

https://www.irishexaminer.com/business/economy/arid-40051361.html

Ulster Bank future up for review: 'All is not well in economy'

Any decision to wind down Ulster Bank in the Republic would be devastating for competition and put further power in the big two Irish lenders, senior brokers and consumer advocates have warned.

So only AIB and BOI look like what will be left in the Irish market for Agri funding, not a good situation at all. PTSB don't look like they have much interest in our sector of the market atm and the Credit Unions may take up some share of the business but Agri rates look like they will be heading upwards.

kevthegaff

Good or bad, its Not helping for farmers when repossessions are halted by the locals or ifa. So wonder wer paying high interest rates. I moved all my accounts and loans to ulster bank 2 years ago, manager is always there when needed, it's a pity if it closes, 2500 jobs

awaywithyou

Buford T. Justice XIX wrote: »

I just came across this now.

https://www.irishexaminer.com/business/economy/arid-40051361.html





So only AIB and BOI look like what will be left in the Irish market for Agri funding, not a good situation at all. PTSB don't look like they have much interest in our sector of the market atm and the Credit Unions may take up some share of the business but Agri rates look like they will be heading upwards.

Thought you’d b out celebrating....

kk.man

Bad news indeed. It doesn't look like to be affecting Northern Ireland just the same with danske Bank (ex national Irish Bank). Why would banks elect to stay in small part of a country?

Base price

Feck it. I used to be with National Irish/Danske Bank and when they closed I moved to Ulster Bank.
Edit to add - the local Ulster Bank branch closed early last year but they ran a mobile banking service twice weekly which was bearable. Since Covid, I have to go to either Longford, Cavan or Swords.

ruwithme

kk.man wrote: »

Bad news indeed. It doesn't look like to be affecting Northern Ireland just the same with danske Bank (ex national Irish Bank). Why would banks elect to stay in small part of a country?

There made stay in it by uk government. Can't be seen to be not treating the union all the same.

Can you imagine the up roar from the unionists if this wasn't the case.

Buford T. Justice XIX

awaywithyou wrote: »

Thought you’d b out celebrating....

We were going to the village but the feckers closed and locked the pubs down there.

Fierce bad form, tbh:D

We'll go down to the disputed territories for the bonfire, I suppose.

Hard Knocks

Base price wrote: »

Feck it. I used to be with National Irish/Danske Bank and when they closed I moved to Ulster Bank.
Edit to add - the local Ulster Bank branch closed early last year but they ran a mobile banking service twice weekly which was bearable. Since Covid, I have to go to either Longford, Cavan or Swords.

Least the BOI put in an ATM, badly stuck otherwise

Donegalforever

Ulster Bank is very popular in my part of Co. Donegal.
They were good to get a mortgage off when the Boom was here. I don't know what they are like now for mortgages.
Some suggestions that the branches in ROI will be taken over by another bank.
We still have AIB and BOI here....but they are nothing to write home about.

ABitofsense

Anyone more their farm account yet? Who to or whose the best to deal with?

I've loan, credit card, personal account, farm account & savings account to move. Going to be a pain!

Packrat

https://www.boards.ie/discussion/comment/118820707#Comment_118820707

Nothing done bat opening a Revolut account and used it 4 times.

I'll probably go to PTSB for the farm and just use Revolut for personal banking.

No loans, mortgage or debt so that makes it easier.

kevthegaff

https://www.boards.ie/discussion/comment/118820707#Comment_118820707

I've moved loans and closed one account, when is the deadline

The Nutty M

I opened a Revolut account as well. Fierce handy thing for traveling and monitoring. It would be great if the department would accept the Latvian IBAN number and I wouldn't need to go near AIB or BOI.

Have been with Ulster Bank since my Henry Hippo days. When they finally go and leave the market,it will be interesting to see what happens.

whelan2

Ulster bank business haven't indicated they are leaving though, have they?

jaymla627

https://www.boards.ie/discussion/comment/118822556#Comment_118822556

All ulster bank services are been pulled, switched over to bank of Ireland here, mid summer they are going to start asking people to move bank, its going to be messy for them re overdrafts outstanding etc, with how stretched things are at the minute I can't see to many people been in the position to switch banks and clear their overdrafts fully

SouthWesterly

https://www.boards.ie/discussion/comment/118822556#Comment_118822556

Mid summer

ABitofsense

Complete pain. Think letters will be sent out but Im going to try move all before then to avoid any issues. Thinking PTSB myself. Hate AIB as had an account with them as a student & found them awful ignorant at the time so left a scar with me.

Thekeencyclist

I think they are to be sending letters 6 months in advance of when the accounts have to be closed or something. Received nothing here yet.

Not sure who to move to, have the farm account and my own personal account to move.

Are all banks providing cheque books these days?? I know they are not used much these days but there is still always the couple of payments in the year that need to be paid that way.....

kk.man

I moved from Danske NIB just before they pulled out a few years back. The switching systems as set up by the central bank were in place then. I went to BOI manager told me there forget the switcher it doesn't work. I had to set up all my direct debits etc physically myself.

One bit of advice go to a Bank that understands farming as it's helpful when u need loans etc.

alps

https://www.boards.ie/discussion/comment/118822912#Comment_118822912

Mid Summer 2023..

cuculainn

Ended up moving to AIB (or at least still in the process of moving)

To be fair, i have found them alright to deal with, had to go into the branch to open it due to having a dormant account with them.

their fee structure seemed the best "value" based on our usage (not very active)

the worst of it is we also have a KBC account that we have to move, but i am thinking this will be replaced by N26 account as we dont really need cheque book etc

kk.man

https://www.boards.ie/discussion/comment/118833040#Comment_118833040

I'd love to get rid of the cheque book but my hedge cutter and sheep shear to name but a few are old fashioned.

L1011

https://www.boards.ie/discussion/comment/118829758#Comment_118829758

Its more that BOI can't handle the switcher stuff.

When I was leaving BOI, BOI wrote to another division of BOI at an old address meaning they never got notified!

cuculainn

https://www.boards.ie/discussion/comment/118833596#Comment_118833596

thats why i had to go with AIB for the farm account, still need the cheque book,

coincidently i have spent the last 30 minutes on hold to AIB to order a cheque book, because it cant be done online for some bizarre reason, and after 30 minutes i was just cut off.........😖

kk.man

https://www.boards.ie/discussion/comment/118833637#Comment_118833637

Welcome to 2022 customer service!

Hard Knocks

https://www.boards.ie/discussion/comment/118833596#Comment_118833596

Allot of places can’t /won’t take card, they’d take cash but there’s less ATM’s about now too

Hard Knocks

50HX

Anyone else move lately??

I need to start the process after easter

Hard Knocks

https://www.boards.ie/discussion/comment/118906144#Comment_118906144

Will your branch be closing altogether or transferred to a different company

50HX

Closed completely

Thekeencyclist

Has anyone received any letter / notification yet from UB saying that you need to start looking into moving to a different bank etc

I thought they were to give 6 months notice or something like that but i havent heard anything yet......obviously I still need to look into other banking options but have been putting it off as i hadnt heard anything etc