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ULSTER BANK IS to close 22 of its branches across Ireland.
The closures will mean 220 redundancies at the bank.
These are the branches that will be affected:
The closures are expected to take place in June and September.
In a statement Ulster Bank Chief Executive Gerry Mallon said:
Closing a branch is a difficult decision which we do not take lightly, and our branch network remains an important part of how we serve our customers. However, the role of the branch continues to move toward advice and away from day-to-day transactions, with only 10% of our customer interactions now happening in branch.
A spokesperson for the bank said an average of 150 customers used the branches that are closing in the past week, that’s 30 per day.
Mallon added that 62% of customer interactions were digital last year.
“We are adapting to the changing nature of the banking and retail sectors and investing to meet our customers’ evolving needs.”
It said that six new ‘Community Banker’ roles are being provided to help vulnerable customers to transition to digital banking channels.
The bank also plans to provide new new mobile banks which will travel to rural areas to serve customers and that its services with An Post will be extended to include cash and cheque lodgements for personal and business customers.
When the closures are complete, Ulster Bank will be left with 88 branches across the country.
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They need to open more often (at night and weekends ) like shops but the unions would never allow this.
@Martin Sinnott:
Nothing to do with the unions. They need to stop fueling property bubbles with uncontrolled money creation:
“Every new loan that a bank makes creates new money. While this is often hard to believe at first, it’s common knowledge to the people that manage the banking system. In March 2014, the Bank of England release a report called “Money Creation in the Modern Economy”, where they stated that:
“Commercial [i.e. high-street] banks create money, in the form of bank deposits, by making new loans. When a bank makes a loan, for example to someone taking out a mortgage to buy a house, it does not typically do so by giving them thousands of pounds worth of banknotes. Instead, it credits their bank account with a bank deposit of the size of the mortgage. At that moment, new money is created.”
http://positivemoney.org/how-money-works/how-banks-create-money/
@Benjy Mooney: Yeah, you need to read Martins post above again. You incorrectly dismissed his point in your first line due to your rush to post your usual diatribe on a banking story.
@Martin Sinnott: That’s one of the last banks on all of the north side of cork city to close now, crazy. There are more banks in tiny villages than one half of our second city! LOL
Closing a bank can knock the life out of a town. It’s not just the people who live there its the surrounding shops and businesses. If they don’t need to go there to cash up they’ll go somewhere else to cash up, shop, grab a coffee. The impact can be massive.
The sooner they leave Ireland (26 counties), the better. Exorbitant fees, regular IT meltdowns and abominable customer service . Good riddance.
@Blue MARIGOLD: I don’t think they’re that bad although I’m very tempted by KBC.
@Blue MARIGOLD: that would leave us one bank less. Low number of banks in this country is part of the reason mortgage rates stay high. This is not good news
@Richy: agreed, but when is Ireland going to address how difficult it is for a bank to repossess a property. That is the main reason our mortgage rates are higher the other EUR zone countries
@Blue MARIGOLD: exorbitant fees where did you get that from 4 euro a quarter on my current account and nothing else to pay try getting that from aib or boi. Counter staff that are actually there not ones that moan at you should use the machine and begrudgingly allow you to pay money over the counter.
@Blue MARIGOLD: Two major IT meltdowns in 10 years. Less than other banks like BOI.
I’ve never really paid them any sort of fees in 30+ years other than the odd accidental overdraft fee so not really sure what you mean there.
Customer service? Probably right there but I can’t compare them to anyone else as I have never used another bank.
@Blue MARIGOLD: @Blue MARIGOLD: regular IT failures?can you name 4in the last 20 years?So you’re happy for all the people working for them to lose their jobs because you had a bad experience with them?maybe it was you.I for one deal with UB and AIB and find UB steals ahead especially the Saturday opening.Normally people who have bad customer service are once that are ratty and looking for an argument
@Blue MARIGOLD: I’ve never had an issue with them. Regular IT meltdowns? I’m with the bank 5 years and never had an IT meltdown experience with them. I pay no fees on my current account as I meet the criteria. I’ve not had too many reasons to go into the bank in person due to using internet banking but on the occasions I did I found their customer service to be a very good standard, kept appointment times on time, provided all information I wanted and were always very clear, not the usual jargo that can be unleashed on people.
@Blue MARIGOLD: Must say, besides the couple of meltdowns in the recent past, my 25 years banking with them have been pretty good.
@Blue MARIGOLD: I’ve been with them 39 years and a business account also the last 11 years. Never any problems with loans, overdrafts, fees or the likes
Online service and mobile device will cause more closure in future.
Where’s the minister for jobs?
Bank branches are history. 500 million customer transactions were handled in the UK, in 2011. Now it’s less than 250 million – and a further 3,000 branches will close there. And – with similar figures applicable here (pro-rata) – closures here will be ongoing. Technology has taken over the industry – blame Intel, Microsoft, IBM. Not the banks…
My branch is one of the Dublin ones on that list, and have never set foot in it (opened the account through college 9 years ago). Here’s hoping they start to develop their Android app and use Android pay with the money they’ll save on rent, rates and wages.
UBexit
Its a pity they are closing Dorset Street branch, they are very nice staff, will be sorry to see them laid off.
But they should close Coolock Branch, I have never seen such lousy service from a bank in my life.
I’m surprised branches in Dalkey and Donnybrook are closing, the D4 types won’t be happy
@Jonny: Their money’s with Cayman International or the Isle of Man Central.
And we have 3 branches in Swords
Appalling service from an appalling bank.
Ulster deserve to be closed down by The Central Bank when one considers that the sold bundles of Good & bad loans the Vulture Funds who foreclosed on performing loans and put perfectly viable companies out of business. For example, Kenny Galway, which beat them but had to go to the High Court do so. U B should loose their banking licence !
Close down the whole of ulster bank. It’s nothing more that a leech on society !
@Blue MARIGOLD: Sorry, but I completely disagree. Exceptional customer service by the staff in Cootehill (which sadly is now to close), only bank that would allow me to open an account as a foreigner when I moved to Ireland in ’94 from Germany, very happy with the loans they provided and their day to day service. In my eyes a big loss for small communities.
Thank f$&k!
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