Tuesday August 4, 2020

Ulster Bank compounds €40 million interest rate mistake with further correction

The bank has written to customers in recent weeks enclosing cheques and advising them that their original compensation was incorrect

6th October, 2019

Ulster Bank miscalculated the compensation due to customers following a circa €40 million interest rate error refund, and has had to issue further compensation cheques.

The bank has written to customers in recent weeks enclosing cheques and advising them that their original compensation was incorrect.

The wider issue stems from when the bank announced publicly in June 2018 that 20,000 of its business customers had been overcharged interest on their accounts.

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