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Ulster Bank outlines compensation scheme | Ulster Bank outlines compensation scheme |
(35 minutes later) | |
The Ulster Bank has announced details of a compensation scheme for customers who were affected by a major computer failure over the summer. | The Ulster Bank has announced details of a compensation scheme for customers who were affected by a major computer failure over the summer. |
It will reimburse all of what it terms "reasonable out-of-pocket expenses" resulting from the major disruption which affected thousands of customers. | It will reimburse all of what it terms "reasonable out-of-pocket expenses" resulting from the major disruption which affected thousands of customers. |
It will be refunding charges placed on people's accounts in error. | |
Customers will receive £20 if they visited the bank from 19 June - 18 July and made a transaction. | Customers will receive £20 if they visited the bank from 19 June - 18 July and made a transaction. |
This is a payment for inconvenience caused. | This is a payment for inconvenience caused. |
Others who were inconvenienced but did not visit the bank during that period are being urged to contact their local branch and explain how they were affected. | |
Thousands of customers were unable to withdraw cash or access their accounts after a software upgrade on 19 June. | Thousands of customers were unable to withdraw cash or access their accounts after a software upgrade on 19 June. |
The computer failure affected the entire Royal Bank of Scotland (RBS) group, but Ulster Bank took longest to resolve the issue. | The computer failure affected the entire Royal Bank of Scotland (RBS) group, but Ulster Bank took longest to resolve the issue. |
Ten weeks after the initial problem, the bank was still warning some customers that their statements may not be correct. | Ten weeks after the initial problem, the bank was still warning some customers that their statements may not be correct. |
The href="http://www.ulsterbank.com/documents/NI/technical-incident-help-point.pdf" >Ulster Bank has given a commitment that no customer will be left permanently out of pocket. | |
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About half of the bank's 1.1m customers were impacted by the computer failure, which led to widespread criticism of the bank. | |
As a result, its chief executive Jim Brown said he would forego his bonus for 2012. | |
Announcing the compensation scheme on Friday, he said: "Once again, I apologise unreservedly to our customers and customers of other banks for the inconvenience this has caused and thank them for their patience as we worked to resolve this issue. | |
"We recognise that we have work to do to restore our customers' trust in us and we believe that this is the first step in that direction. | |
"We have worked with our key stakeholders to ensure the additional measures which we are taking provide a comprehensive response to customer concerns and demonstrate our commitment to making amends." | |
Customers seeking further information can go online, call into their local Ulster Bank branch or telephone 0800 231232. | |
In recent weeks, the Consumer Council for Northern Ireland criticised the bank over the delay in announcing its compensation scheme. | In recent weeks, the Consumer Council for Northern Ireland criticised the bank over the delay in announcing its compensation scheme. |
Earlier this month, the RBS said it had put aside £125m to pay compensation to customers affected by the computer problem. | Earlier this month, the RBS said it had put aside £125m to pay compensation to customers affected by the computer problem. |