The bank, which stopped processing in-branch transactions a few weeks ago, has now shut down its remaining 63 branches and ATM services in the Republic of Ireland and is supporting the remaining customers to move to other service providers
Georges Quay Building, the headquarter of Ulster Bank. (Credit: DXR/Wikipedia)
Ulster Bank, a retail banking company of NatWest Group, has closed its entire branch network in Ireland, as part of its planned withdrawal from the country.
The bank stopped processing in-branch transactions a few weeks ago and has now shut down its remaining 63 branches and ATM services in Ireland.
It includes ceasing customers from making cash or cheque transactions or any form of withdrawal at an Ulster Bank branch, including ATM services.
Ulster Bank is providing customer services and support, through telephone and online channels, to help remaining customers move and close their accounts.
The move will not impact its operations in Northern Ireland, said the lender.
Ulster Bank chief executive Jane Howard said: “Today is a poignant day in Ulster Bank’s 187-year history as our remaining 63 branches in the Republic of Ireland will close their doors for the last time.
“While the focus in recent months has been on supporting our customers as they move to new banking providers, we know our branches and colleagues have been a central part of communities around the country for many years.
“I would like to extend our heartfelt gratitude to all of our branch colleagues over the years, particularly for their dedication over the past two challenging years, and I’d also like to thank our customers for allowing us to be part of your communities.”
In January 2021, Ulster Bank announced its plans to withdraw from the Republic of Ireland, as the bank’s branch transactions were reduced by 99%.
Since then, the bank has been selling off its loan portfolio to other banks and financial institutions.
Last month, Ulster Bank said that it will not accept any applications for the Money Market Contract fixed term deposit offer, effective from 28 April 2023.
Existing customer account holders will receive their balance as per the customer’s settlement instruction after the accounts reach their maturity date, said the bank.
Howard added: “As the closure of current and deposit accounts materially concludes, I strongly urge any remaining customer who has not yet moved their current and deposit account to act swiftly to find a new provider and move their accounts.
“Although our branches will no longer be open after today, we are still here to support our remaining customers.”