ULSTER BANK SHOULD waive its fees for the year, small company organisation ISME has told TheJournal.ie.
Calling on the bank to ease disruption to customers, it says it will ask it to make a concession later this week because of the disruption IT issues at the bank have caused its members.
“About 15 per cent of our members are banking with Ulster Bank but even if they are not, they may be expecting money to come in from Ulster Bank customers,” ISME Chief Executive Mark Fielding said. ”They are worried that if it doesn’t come in, they could be pushed into an overdraft situation, which will lead to surcharges and penalty interest.” He said:
At the end of this week we will see if we can get something for the guys who have been troubled.
When called by TheJournal.ie, Ulster Bank did not have a response.
According to business owners, the disruption in services has forced them to cancel sales.
“I collected 11 cars from the UK last week, three of which I had pre-sold, but I’ve had to tell the customers that they won’t have them because I can’t pay for them,” car dealer George Mourdant of the Mourdant Group in Clonmel, Tipperary, told TheJournal.ie.
“My bank balance has reappeared for the first time in a week. There is a €34,000 in difference from the balance on 18 June but the transactions that brought it to that point are not appearing and the Bank manager can’t tell me anything else.”
“There has been a huge disruption to business,” he said.
If the roles were reversed there would be no sanctuary given by the banks. They would be brutal and ruthless in their approach.
“If someone pays me €12,000 for a car and I lodge that, I’m charged 0.5 per cent. That’s €60. If you are a cash business, the fees represent a very sizeable chunk of money. The bank should at least waive fees for the quarter.”
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