Ulster Bank is investigating widespread reports of accounts missing funds

24 Apr 2018800 Views

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Ulster bank branch in Dublin. Image: Martin Good/Shutterstock

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Some Ulster Bank customers are claiming that money has disappeared from their accounts.

Social media has been flooded with complaints today (24 April) as Ulster Bank customers noticed that payments – including salaries – had disappeared from their accounts.

Other customers also said that their cards were declined when they tried to make purchases.

2012 saw a disaster for Ulster Bank

This is not the first time Ulster Bank has landed in hot water for similar issues. In 2012, an IT systems failure saw some of its customers without access to their money for a number of weeks.

The Central Bank said the 2012 issue caused “significant and unacceptable inconvenience” to customers and threatened confidence in the wider retail banking industry.

Currently, cheque lodgements are not showing up in certain accounts, while other customers are reporting incorrect account balances.

A matter of urgency

Ulster Bank tweeted a statement earlier today, saying it was aware of the issue and that its team was working hard to remedy it.

The bank said it could be tomorrow before the problem is fixed and noted that its IT team would be working overnight to process transactions. Emergency cash of up to €500 will be made available to customers who require funds.

“We are investigating this issue as a matter of urgency and apologise for any inconvenience caused. No customer will be left out of pocket as a result of this issue. Emergency cash is available in branch or via telephony. If you would like to contact us, please call 1850 424 365, get in touch via webchat or, alternatively, visit your local branch,” the bank stated.

One customer said: “My salary has disappeared from my account today and my wife had her card declined when trying to pay for a GP visit and medication. Extraordinary how often this kind of issue happens with this bank. Time to change to a competitor I think.”

The bank noted that not all customers were affected by the current issues. No information about the potential cause is currently available.

Ulster bank branch in Dublin. Image: Martin Good/Shutterstock

Ellen Tannam is a writer covering all manner of business and tech subjects

editorial@siliconrepublic.com