An 83-year-old former Ulster Bank customer claims access to his accounts was blocked without notice after the financial institution told him his business was no longer wanted.
The pensioner, a customer for approximately 60 years, was told no reason needed to be given for the decision to drop him as a customer.
His solicitor said his client, who did not want to be named, had money in both his current and savings accounts and had no overdraft. He was a customer in good standing, said Limavady, Co Derry, solicitor Peter Jack.
“As far as I am concerned, my client has been dealt with in a very dismissive fashion by a major international corporation,” said Mr Jack.
The bank “was very happy to use my client’s money for six decades and have now decided, for reasons known only to the corporate few, that he is no longer of use to them.”
The man, a widower, received a letter on April 19 informing him the accounts were being closed, but stating it was to happen on or after June 18.
However, within a day he was unable to withdraw money from the ATM or the branch and became concerned his work and state pension deposits, along with direct debit outgoings, would be affected, Mr Jack said.
His branch, on Catherine Street, Limavady, was unable to provide him with answers.
Ulster Bank was unable to address the individual's case as he did not give permission for his personal information to be passed on.
But in a letter seen by the Irish News from the complaints department of parent company, NatWest, the bank stated the decision to “cease our banking relationship with you” followed a “recent review”.
The bank said it had “looked into this and, as mentioned, in section 5.3 of our terms and conditions there are circumstances in which we may suspend or restrict the use of a customer’s accounts”.
“We’ve complied with our regulatory obligations and no explanation is legally required,” the letter read.
In a statement, Ulster Bank said it was not involved in any process to unilaterally close accounts of certain customers, including those in receipt of state and work pensions.
“Like all UK regulated banking institutions, Ulster Bank in Northern Ireland is subject to legal and regulatory requirements, and we treat compliance with them as a matter of priority,” a spokesperson said.
“This may mean we are required to delay or refuse to act on a customer’s instructions, and/or suspend or restrict a customer’s account.”
Mr Jack said his client had difficulty accessing any money for two weeks and, even after moving to another bank, is having issues with his DHSS pension deposit.
“My client has suffered a shock of not being able to access his own money or pay his direct debits," Mr Jack said.
"He has been jettisoned by a bank despite 60 years of loyal customer service (and) has been told to go make his own arrangements."
In the letter from the complaints department, NatWest said it was "sorry that our decision has caused you a great deal of distress". It also was able to "confirm" there was no bank error so the customer has "no redress".
