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Help Point
We're committed to making amends
Following our technical incident, we are determined to make amends to every customer that has been affected. We have put in place a comprehensive package of measures which includes the following:
This will happen automatically and the majority of these adjustments will be completed by the end of October 2012.
For SME customers, we will pay an additional 20% on top of these expenses, up to a maximum additional payment of £100. It will help if you can back up your claim with any paperwork you may have; for example, phone bills, travel receipts, bills or invoices.
- Waiving Current Account transaction fees for a three month period, beginning 19 May and ending 17 August 2012*.
- Waiving Bankline subscription and transaction fees for the months of June, July and August 2012*.
- Waiving unarranged borrowing interest and charges for a three month period beginning the 21 May 2012 and ending 19 Aug 2012*.
- On December 12th, an automatic one-off payment, which equates to an additional rate for 3 months of 0.06% Gross, 0.25% AER** (fixed) on the average daily balance between 1 September and 30 November 2012 was credited to savings accounts + held by Personal and SME customers.
Only accounts open on the 19 June 2012 which were still open on the 30 November 2012 will have received the payment. This excludes tracker bonds and structured deposit products. This automatic payment is visible on statements as a standard interest payment made on the 12th December 2012.
*Dates differ slightly due to charging cycles
**Gross - this means the interest rate you are paid before the deduction of income tax. Annual Equivalent Rate (AER) - this is a notional rate used for interest bearing accounts, which illustrates the interest rate if paid and compounded each year. It helps you to compare the effective rates of credit interest on different accounts. Interest earned is subject to lower rate tax deduction (20%) where applicable.
+Where applicable payment was automatically credited to a feeder account, this may be a current account held with Ulster Bank.
To claim your out of pocket expenses:
Complete and print our online Technical Incident Customer Form
Download and complete our
PDF of the Technical Incident Customer Form
Visit us in person
with any supporting paperwork you may have - find your nearest branch and opening hours
Call to request a form
Freephone: 0800 231 232
International: +44 28 9084 3556
Mon-Sat, 8am-6pm.
Calls may be recorded.
Calls from mobile phones may not be free.
If you are an Ulster Bank customer seeking reimbursement for reasonable out of pocket expenses as a result of our technical incident, you can make a claim by following these steps. Customers of other banks should contact their bank in the first instance.
| 1: Complete Form | Complete and print the Online Technical Incident Customer Form or download and print a pdf version. |
|---|---|
| 2: Sign Form | Once complete, sign the printed form |
| 3: Include any supporting paperwork you may have | It will help if you can back up your claim with any original paperwork you may have; for example, receipts, invoices or any other information. If you do not have any paperwork, please speak to your Relationship Manager or your usual point of contact. Keep a copy of your form and paperwork. |
| 4: Return by Freepost or to your branch/Relationship Manager | Return the signed form and your original paperwork in an envelope to: 1906 Central Claims Unit, Or drop them in to your local Ulster Bank branch. |
What happens once my claim has been submitted?
We will investigate the issues you have experienced and the paperwork you have provided. Upon completion of our investigation, we will write to you to inform you of the outcome. If you are an SME customer, who is not happy with this outcome, you may be entitled to contact the Financial Ombudsman Service, who can look into your concern.
To claim your out of pocket expenses:
-
Complete and print our online Technical Incident Customer Form
-
Download and complete our
PDF of the Technical Incident Customer Form -
Visit us in person
with any supporting paperwork you may have - find your nearest branch and opening hours -
Call to request a form
Freephone: 0800 231 232
International: +44 28 9084 3556
Mon-Sat, 8am-6pm.
Calls may be recorded.
Calls from mobile phones may not be free.
We are proactively refunding transaction fees and unarranged borrowing interest and charges that may have been charged in error and correcting any credit interest owed as a result of this incident. This will happen automatically and the majority of these adjustments will be completed by the end of October 2012.
How will I be reimbursed for out of pocket expenses?
We will reimburse reasonable out of pocket expenses incurred as a result of the technical incident. For SME customers, we will pay an additional 20% on top of these expenses up to a maximum of £100. It will help if you can back up your claim with any original paperwork you may have; for example, original phone bills, bus tickets, travel receipts, bills or invoices.
What paperwork do I need to provide when making a claim for out of pocket expenses?
It will help if you can back up your claim with any original paperwork you may have; for example, original phone bills, travel receipts, bills or invoices. Please provide original paperwork and keep a copy for your records. Original documents can be returned to you on request or you can bring them to your local branch or business centre where they can be copied and returned to you immediately.
What if I don't have any original paperwork?
If you don't have any original paperwork, please speak to your Relationship Manager or your usual point of contact.
What happens once my claim has been submitted?
We will investigate the issues you have experienced and the paperwork you have provided. Upon completion of our investigation, we will write to you to inform you of the outcome. If you are SME customer, who is not happy with this outcome, you may be entitled to contact the Financial Ombudsman Service, who can look into your concern.
What are you doing to recognise the inconvenience caused to customers?
We are recognising the inconvenience caused with a range of measures:
- Waiving current account transaction fees for a three month period, beginning 19 May and ending 17 August 2012*.
- Waiving Bankline subscription and transaction fees for the months of June, July and August 2012*.
- Waiving unarranged borrowing interest and charges for a three month period beginning the 21 May 2012 and ending 19 Aug 2012*.
- An automatic one-off payment, which equates to an additional rate for 3 months of 0.06% Gross, 0.25% AER** (fixed) on the average daily balance between 1 September and 30 November 2012, for those SME customers with a savings account. Only accounts open on the 19 June 2012 which are still open on the 30 November 2012 will receive the payment. This excludes tracker bonds and structured deposit products.
*Dates differ slightly due to charging cycles
**Gross - this means the interest rate you are paid before the deduction of income tax. Annual Equivalent Rate (AER) - this is a notional rate used for interest bearing accounts, which illustrates the interest rate if paid and compounded each year. It helps you to compare the effective rates of credit interest on different accounts. Interest earned is subject to lower rate tax deduction (20%) where applicable.
What fees are excluded from the 3 month Fee Waiver?
SME Customers - Arranged Overdraft Interest and Charges for additional services are not included in the fee waiver. Please refer to section 7 in our brochure "A Guide to Business Current Account Fees" for a full breakdown of these charges.
I am a customer of another bank; what should I do?
For non Ulster Bank customers, fees, charges and interest that were incurred as a result of the incident will either not be applied or will be refunded directly by your own bank.
If you are seeking reimbursement for reasonable out of pocket expenses you should contact your bank directly. Banks will use their usual complaint handling policies and procedures to investigate and respond to any claims arising from this incident.
Are there any tax implications?
Depending on your circumstances, there may be tax implications.
We recommend you seek appropriate professional advice to the extent that you have any doubt in relation to these matters.
Reimbursement of out of pocket expenses:
If these expenses do not relate to business expenditure, you should not have any additional tax or accounting considerations.
If these do relate to expenses of your business, you should discuss accounting for these with your accountant. Furthermore, if you have already claimed relief/deduction in your tax return for these business expenses, you should obtain appropriate professional advice in relation to the tax treatment of the reimbursement.
Additional payment of 20% on top of out of pocket expenses
It is generally accepted that ex gratia payments are not considered to be taxable by HM Revenue & Customs (HMRC) and should not require disclosure in your tax return.
Payment of additional credit interest:
All credit interest payments and adjustments arising from this package of measures will be subject to the normal lower rate tax deduction (20%), unless you are eligible to receive gross interest. If you are a higher rate or additional rate tax payer, you may have a requirement to disclose these interest payments in your tax return.