Ulster Bank has launched a new campaign to remind customers to take steps to open a new account/ switch provider for their current and deposit accounts and to also take steps to move their credit card accounts.
Ulster Bank plans to write to credit card customers in September to give them six months’ notice to take action on their credit card accounts as after this point, their card will no longer work. Customers will also have to move their recurring transactions; pay the outstanding balance and Close their Ulster Bank credit card by March 2023.
Ulster Bank recognises that some customers may not be able to clear their balance within six months and will work with customers on a case-by-case basis for individual plans. If customers need support in repaying their balance, are in financial difficulty, or are in a vulnerable situation they can contact the bank’s credit card team on 0818 210 261 (lines open 24 hours a day including Bank Holidays) for account closure and any general enquires. The Credit Card Financial Health & Support Team can be reached on the same number and are available Monday to Friday, from 8am - 8pm and Saturdays, from 8am - 1pm. Ulster Bank also has a dedicated phone line for customers who have vulnerabilities on 1800 656 001. Throughout this process, Ulster Bank reminds its customers that it will never ask them for passcodes or online banking details in a phone call, email, or text - so be alert, as scammers and fraudsters may try to take advantage of the situation.
Before closing their Ulster Bank credit card, customers should ensure all recurring transactions have moved successfully to their new card and ensure they have sufficient funds to cover the Government Stamp Duty (€30), which will be applied upon closure of the account. Stamp Duty is charged on 01 April each year for the preceding/ prior year. Customers who have closed their credit card accounts and are moving to a new credit card provider will receive a 'Stamp Duty Letter of Closure’, which they can share with their new credit card provider to avoid being charged stamp on 01 April 2023 for 2022. Customers who have already closed their account before 01 July can also access this letter if required.
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