Ulster Bank says compensation is under review

“Despite what the bank has said, it is inevitable that some people will fall through the cracks and have their credit rating affected as a result of this debacle. The problems will only materialise months from now and anyone who has their credit rating affected could have their lives destroyed. I know that sounds dramatic but it is the reality,” he said.

He called on the bank to have a team of people in place for the next six months to act as contact points for anyone who experiences long-term problems as a result of the bank’s account failures.

While the bank has admitted the problems will persist for days it said yesterday that customers should see an “improved position on their accounts” this week as it works to clear the backlog of account transactions which has built up over the last two weeks.

Earlier this week it said it would bring in independent experts to oversee an investigation into the issues and said it would publish “the relevant findings” arising from the inquiry.

In its first public comment on the issue, the National Consumer Agency said it was “very concerned at the uncertainty surrounding when this will be resolved” but said it did not have any role to play in the issue as the resolution of the difficulties was “a matter for Ulster Bank and the Central Bank”.

Ulster Bank customers: What they’re saying

“I’m not sure if my mortgage has come out or not. The queue there is crazy at the moment. Now as a couple of weeks have progressed, it’s getting a bit more annoying.”

Sarah Hamilton, Dunboyne, Co Meath

“I think they should really tell us exactly what’s happening, not just a glitch. Obviously there’s something bigger than what they’re saying. I’m trying to pay my mortgage for the past two weeks.”

Patricia Lynam, Drimnagh

“I just don’t understand how long it’s going on for. I can understand that glitches happen and computers crash, but to tell us initially that it might take a week and it’s in its second week now. I think it’s going to start unnerving people about where their money is. My reaction is I can’t wait for it to be sorted because I feel I just want to get my money out of there as quick as I can. Tell us the truth; tell us what’s going on. Has it been hacked? They can’t tell me anything, it’s very unsatisfactory.”

Anne Murphy, Dublin 2

“It took something amazing to make Bank of Ireland or AIB look good but they’ve done it. There are desks inside there without people on them and a queue of about 10 people, at least at lunchtime you should have the whole thing manned.”