Ulster Bank 'needs more time'


Ulster Bank has said it needs more time to address a backlog of payments arising from a technical problem that has affected accounts held by more than 100,000 of its customers.

The bank has said it will bring in independent experts to oversee an investigation into the issues that have continued for two weeks. It pledged to publish “the relevant findings” arising from the inquiry, which it said would begin once the problems have been overcome.

In a statement, the bank said customers should see an "improved position on their accounts" today as it works to clear a back log of account transactions.

How long this will take remains unclear, with the bank simply saying it requires “further time” having been forced to revise the date by which the problems will be addressed repeatedly. Ulster Bank chief executive Jim Brown last week told The Irish Times that the problems should be fixed by the beginning of this week.

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