Ulster Bank to 'make amends' as refunding policy announced
on 31/08/2012 09:56:14
The bank had blamed the issues on a major computer failure and 10 weeks after the initial problem, it is still warning some customers that their statements may not be correct.
They have this morning released a document outlining how they will 'make amends' to customers affected by the incident.
The document promises that the bank will:
*Refund all fees, charges and debit interest charged in error and correcting any credit interest owed as a result of the incident. This will happen automatically and the majority of these adjustments will be complete by the end of October 2012.
*Reimburse reasonable out of pocket expenses incurred as a result of this incident. For Personal and SME customers, the bank will pay an additional 20% on top of these expenses up to a maximum of €120.
*Reassure that customers' credit rating will not be permanently affected by the incident.
*Recognise the inconvenience caused with an automatic one-off payment, which equates to an additional rate for three months of 0.06% Gross, 0.25% AER (ﬁxed) on the average daily balance between September 1 and November 30 2012, for those Personal and SME customers with a savings account.