Important Customer Update

Ulster Bank Ireland DAC presence in the Republic of Ireland

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Latest update

Commercial Debt transferred to Pepper

Commercial Debt due to transfer to Pepper

General FAQs

Previous Updates

An update from Ulster Bank

Update 25th March 2024

As announced on 31^st January 2023, after 31st March 2023, we will no longer accept new applications from any of our commercial customers for new or increased loans, overdrafts, invoice finance or trade finance.

We will continue to support our customers through this withdrawal and customers can contact our dedicated telephony team on 0818 211 690 for further support.

Frequently Asked Questions

Commercial Debt transferred to Pepper

Did my Commercial debt transfer to Pepper?

Yes, your Commercial debt has transferred to Pepper, which is now your point of contact.

You can find more information about the transfer of your Commercial debt to Pepper in the Frequently Asked Questions available on Pepper's website at www.pepper-advantage.ie/faqs

Alternatively you can contact Pepper on 0818 882 241. If calling from abroad - +353 61 236908 9am - 5pm, Monday to Friday (excluding Bank Holidays).

My Commercial debt transferred to Pepper, when will I hear from them?

Pepper is your point of contact for your Commercial debt. They will send a Welcome Letter to you within two weeks of the date of transfer providing you with further detail about the transfer of your Commercial debt.

You can also find more information about the transfer of your Commercial debt in the Frequently Asked Questions available on Pepper's website at www.pepper-advantage.ie/get-in-touch. Alternatively you can contact Pepper on 0818 882 241, 09am - 5pm, Monday to Friday (excluding Bank Holidays).

How do I contact Pepper to find out more information about my Commercial debt?

Pepper has an Information Hub available on their website for customers whose Commercial debt has transferred from Ulster Bank at www.pepper-advantage.ie/get-in-touch. This contains Frequently Asked Questions that provide more information about the transfer of your Commercial debt.

You can also contact Pepper on 0818 882 241, 09:00am to 5:00pm, Monday to Friday (excluding Bank Holidays).

Do I have access to view my Commercial debt on Anytime Banking or Bankline after transfer to Pepper ?

How can I find out the balance of my Commercial debt that transferred to Pepper?

We wrote to you shortly after your Commercial debt transferred to Pepper confirming the balance that transferred.

Pepper is your point of contact for your Commercial debt and can be contacted for any queries, or for details of any transaction data from after the date of transfer by calling 0818 882 241. If calling from abroad - +353 61 236908 9am - 5pm, Monday to Friday (excluding Bank Holidays).

I paid my Ulster Bank Commercial debt by Direct Debit. What changes happened to this Direct Debit when my Commercial debt transferred to Pepper?

The Direct Debit in place on the date your Commercial debt transferred from Ulster Bank to Pepper continued to be used to make payments to your Commercial debt. Pepper may have amended the Direct Debit name that appears on your bank statement (the ‘creditor identifier’) to refer to ‘Pepper Asset’ rather than to Ulster Bank.

I paid my Ulster Bank Commercial debt by Standing Order/Electronic Funds Transfer (EFT)/Card/Cheque. How are these payments made to Pepper?

If you paid any portion of your Ulster Bank Commercial debt by an alternative payment method (e.g., standing order, Electronic Funds Transfer (EFT) or card payment), you were required to take action to redirect these payments to Pepper.

If you have not done so please refer to the letter Pepper issued to you within two weeks of your Commercial debt transferring. Details can also be found on www.pepper-advantage.ie/faqs

Ulster Bank no longer accepts repayments by cheque. Any cheques received will be returned to the issuer with an instruction to redirect the payment to Pepper.

If your Commercial debt transferred in March 2024, and a payment is provided to Ulster Bank electronically up to 31st May 2024 (e.g., standing order or EFT), we will forward it on to Pepper on your behalf. After this date, these payments will need to be made directly to Pepper.

I submitted an account maintenance request to Ulster Bank before my Commercial debt transferred (e.g., updating payment details, address, statement requests etc). What happened with this request?

I need to make an update to my Commercial debt (e.g., updating payment details, address, statement requests etc). How do I do this now that my Commercial debt is with Pepper?

I have a life assurance policy linked to my Ulster Bank Commercial debt, did this transfer to Pepper?

Has the reassignment of Ulster Bank's interest in my Commercial debt to Pepper changed my life assurance policy ?

No, the reassignment of Ulster Bank's interest did not in any way change the policy itself. It is important you maintain payments on your life policy as normal to ensure no lapse in your cover.

Please contact Pepper on 0818 882 241, 9am - 5pm, Monday to Friday (excluding Bank Holidays) if you have any queries relating to your life assurance.

I was supported by Ulster Bank's Strategic Debt Solutions unit. What supports are available to me from Pepper?

If you were supported by Ulster Bank's Strategic Debt Solutions unit, you will receive support from Pepper's Commercial Real Estate Servicing Team. If you need to contact them to discuss your Commercial debt, you can do so using the following contact details.

Telephone : 0818 882 241. If calling from abroad, +353 61 23690, 9am – 5pm Monday to Friday, excluding Bank Holidays.

I raised a complaint with Ulster Bank, what happened to this when my Commercial debt transferred to Pepper?

If you had an unresolved complaint with Ulster Bank at or after the date of your Commercial debt transfer, the handling and resolution of this complaint remained with Ulster Bank. Pepper will not be able to support or advise on this. Ulster Bank is the contact on this complaint.

You can contact Ulster Bank directly on 1800 200 162 or on +353 1709 2042 if calling from abroad.

If you have a complaint with the Financial Services and Pensions Ombudsman (FSPO) they will continue to investigate and you need to take no action.

Can I raise a complaint with Ulster Bank even though my Commercial debt transferred to Pepper?

If you wish to raise a complaint after the date of transfer which relates to an Ulster Bank issue, please visit the complaints page of our website here https://www.ulsterbank.ie/help-and-support/how-to-make-a-complaint.html for information on how to raise a complaint.

If the complaint relates to an issue that occurred after the Transfer Date, you will need to raise this directly with Pepper.

Any existing complaints which you raised with Ulster Bank prior to the date of transfer will continue to be managed by Ulster Bank Ireland DAC.

What happened with my security (e.g.property deeds) when my Commercial debt transferred?

Ulster Bank transferred your Commercial debt and your related Commercial debt documents i.e., your loan agreement(s)and guarantees (if any) to Pepper. Any deeds that we were in possession of as security for your Commercial debt transferred to Pepper.

Pepper can help you with any queries you have about your property deeds or guarantees and can be contacted using the following details.

Telephone : 0818 882 241. If calling from abroad +353 61 236908, 9am - 5pm, Monday to Friday (excluding Bank Holidays).

Postal Address: Pepper Commercial Real Estate Servicing Team, PO Box 13663, Shannon, Co. Clare

Did I incur any legal costs when my Commercial debt transferred to Pepper?

I need a historical loan statement for a period before my Commercial debt transferred to Pepper. Who do I contact to request this?

If you require a Commercial debt statement for any period up to the date your Commercial debt transferred to Pepper, you can request this from Ulster Bank by calling the Ulster Bank Customer Service team on 0818 210 260 (00353 1804 7475 if calling from abroad). Lines are open 8am – 8pm 7 days a week.

If you require a statement showing transactions after your Commercial debt transferred to Pepper, Pepper will be able to facilitate that request. You can contact Pepper on 0818 882 241 If calling from abroad +353 61 236908 9am - 5pm, Monday to Friday (excluding Bank Holidays).

I have an Authorised Third Party that engaged with Ulster Bank on my behalf. Do I need to do anything to have the same arrangement with Pepper?

Yes, you need to take action. Any instructions you provided to us to engage with third parties in relation to your Commercial debt did not transfer to Pepper.

If you continue to require this type of support, Pepper will provide you with the relevant form to complete and return within the letter they sent you within 2 weeks of transferring. If you need any further information , you can contact Pepper on 0818 882 241, 09:00am to 5:00pm, Monday to Friday (excluding Bank Holidays).

General FAQs

Ulster Bank have told me that I am in either the AIB or PTSB transactions because I have debt or Lombard products - what does this mean for me?

We have written to all customers who are included in either the AIB or PTSB transactions.

For customers subject to the transaction with AIB, we will continue to support their debt product needs (loans, overdrafts, trade finance and invoice finance) until they transfer to AIB.

For customers subject to the transaction with PTSB, we will continue to support their requirements for loans and overdrafts until they transfer to PTSB.

After the 2nd November 2022, our online application channels will close with the exception of our U-Connect platform which will remain available to support Small Business Loan applications. You should contact your Relationship Manager or our team on 0818 211 690 with any queries. Lombard customers should continue to call their Relationship Manager or 0818 211 000.

Does this announcement impact Lombard customers?

I received a notification from UBIDAC giving me notice that I now need to choose another provider to move to and close my UBIDAC accounts. Where can I get more assistance?

I am a Micro SME customer with a a loan or overdraft – what does the announcement of 2nd November mean for me?

There is no immediate change for customers currently holding these products on foot of this announcement. We have already started to write to our Micro SME customers with loans or overdrafts about the next steps relating to those. If you have any questions about your existing loan or overdraft, please contact our team on 0818 211690.

Previous updates

Update 19 February 2021 Close

Update 19th February 2021.

Following an extensive review of Ulster Bank Ireland DAC, a decision has been made for a phased withdrawal of all its banking activity and associated services within the Republic of Ireland over the next number of years.

What do customers need to do?

Nothing, there is no immediate impact on your products and your day to day banking, simply continue to bank with us as normal. We commit to keeping you updated and assure you that we will provide advance notice of any changes to your future banking services as a result of this decision.

Are we open for new business?

Yes – we will remain open for all new business as we work to find the solutions that will ensure continuity of support for you. This announcement of a phased withdrawal may result in the transfer of your product to another provider.

To keep you up to date with what this means for you, we have put together these frequently asked questions and answers.

We would like to thank you for your ongoing business with us and assure you that we are committed to serving you and working in the best interests of all our customers.

Be fraud aware?

This decision may prompt fraudsters to attempt to take advantage of the situation. We will ensure all security measures continue to keep you protected. Please stay alert and watch out for scams and for more information please visit our security centre.

For all your personal banking needs please visit ulsterbank.ie/personal.html

For all your business banking needs please visit ulsterbank.ie/business.html

Update 30th July 2021 Close

Update 30th July 2021.

On 19 February 2021 we announced a phased withdrawal of all our banking activity and associated services within the Republic of Ireland. We now want to update this with important information regarding notice to close Commercial Banking products/services to new business.

We remain fully open for all existing business customers’ needs and requirements. Lombard remains fully open for all business from both new and existing customers. There are no changes to your existing products with us at this time and we will notify you of any changes and actions you need to take when necessary. We will no longer be taking on new to bank customers across any of our business banking services, with the exception of Lombard, from today, 30 July 2021.

As part of our phased withdrawal plan, we will communicate with you directly in advance of any changes which affect you and any action required by you. We remain committed to keeping you informed as appropriate throughout.

Update 28th June 2021 Close

Update 28th June 2021

Ulster Bank Ireland DAC announced on the 19 February 2021 that, following a strategic review undertaken by our parent company NatWest Group, we will commence a phased withdrawal from the Irish market over the coming years.

We can now confirm that we have reached a legally binding agreement with Allied Irish Banks, p.l.c. for the sale of a c.€4.2bn portfolio of performing loan products (plus up to €2.8bn of undrawn exposures) from our Commercial Banking Division and the transfer of the colleagues wholly or mainly assigned to this loan book. This agreement is now subject to regulatory approvals which is likely to take a number of months.

You do not need to take any action on foot of this announcement and we will be in contact with you whenever you do need to take action.

If you have any questions, please talk to your dedicated Relationship Manager or call us on 0818 210 264*. If you do prefer to call us, please be patient with us as we may be experiencing longer than usual call wait times.

Important Information: *Lines open Monday – Friday, 8.30am – 5.30pm. Call costs may vary and calls from mobiles may not be free. Information correct as at 25/06/2021.

Update 17th December 2021 Close

Update 17th December 2021

Today, Ulster Bank announces an update on its phased withdrawal process, as confirmed on 19 February 2021, binding agreement with AIB on 28 June 2021 and non-binding memorandum of understanding with Permanent TSB Group (“Permanent TSB”) on 23 July 2021.

Ulster Bank and its parent NatWest Group have agreed a binding agreement with Permanent TSB for the sale of performing non-tracker mortgages; the performing loans in our micro-SME business, Ulster Bank’s Lombard Asset Finance business, including the Lombard digital platform; and a subset of Ulster Bank branch locations.

The proposed sale will include a total of approximately €7.6bn gross performing loans as at 30 June 2021, the majority relating to non-tracker mortgages, and 25 of Ulster Bank’s 88 branch locations. The transaction is subject to further due diligence, obtaining regulatory approvals and satisfying other conditions. The proposed sale may not complete on the terms contemplated in the binding agreement, when envisaged by the binding agreement, or at all.

While performing tracker mortgages are not part of today’s binding agreement, Ulster Bank and NatWest Group are working on a pathway for these customers and a process is underway in this regard. We will update on this in due course.

There are customers and customer products which are not covered by today’s announcement and we will update on those as appropriate. While there is no change for customers today, in early 2022 we will begin to serve formal account closure notice to customers who have current and deposit accounts. This means that customers will need to Choose a new bank and prepare to Move and Close their accounts. We will ensure customers, including those in vulnerable situations, have ample notice periods as well as the support they need to complete the process.

We understand that choosing and moving to a new bank is a process that customers may wish to commence now, and we are already talking to customers who are considering their options. While we are not asking customers to move bank right now, we are ready to help those who have chosen their new bank. Our branch and telephony teams are ready to support customers with the move / and or close process and can be contacted here.

Update 29th April 2022 Close

Update 29th April 2022

On 29th of April 2022, Ulster Bank announced an update on its phased withdrawal process, as confirmed on 19 February 2021 and further to the binding Agreement with AIB announced on 28 June 2021.

Ulster Bank and its parent NatWest Group have received approval from the Competition and Consumer Protection Commission (CCPC) for the sale of a portfolio of performing loan products from our Commercial Banking Division and the transfer of the colleagues wholly or mainly assigned to this loan book.

We will write to customers in due course directly detailing their specific facilities that are included in the sale and the actions required to complete their product transfer. Customers do not need to take action now on foot of this announcement. If you have any questions, please talk to your dedicated Relationship Manager, or see customer FAQs below.

Update 2nd September 2022 Close

Update 2nd September 2022

Today (2^nd September 2022), Ulster Bank announced a further update on its phased withdrawal process for our business customers.

We have previously announced binding agreements with AIB and PTSB for the sale of certain debt products, and we started writing to our business customers in April 2022 with 6-months’ notice to Choose their new provider and to Move their banking requirements.

Today we are announcing that effective as the 2^nd November 2022 we will no longer accept applications from all customers for the following products:

· Current Accounts

· Deposit Accounts

· Commercial Cards

· Additional Bankline Services i.e., SEPA Money Transfer, Direct Debit Origination

· Bankline Direct

· SWIFT Network MT940 reporting

· Trade Finance products for our Micro-SME customers

We have written to all customers who are included in either the AIB or PTSB transactions.

For customers subject to the transaction with AIB, we will continue to support their debt product requirements (loans, overdrafts, trade finance and invoice finance).

For customers subject to the transaction with PTSB, we will continue to support their requirements for loans and overdrafts.

There are customer FAQs below. We will continue to support our customers through this withdrawal and customers can contact their Relationship Manager or our team on 0818 211 690 for further support.

Update 2nd November 2022 Close

Update 2nd November 2022

As announced on the 2nd September 2022, and effective the 2nd November 2022 we will no longer accept applications from all customers for the following products:

Current Accounts
Deposit Accounts
Commercial Cards
Additional Bankline Services i.e., SEPA Money Transfer, Direct Debit Origination
Bankline Direct
SWIFT Network MT940 reporting
Trade Finance products for our Micro-SME customers

We have already written to all customers who are included in either the AIB or PTSB transactions.

For customers subject to the transaction with AIB, we will continue to support their debt product requirements (loans, overdrafts, trade finance and invoice finance).

Today, 2nd November 2022, we are also announcing that effective from the 4th January 2023, we will no longer accept applications from our Micro SME customers for new or increased loans and overdrafts. Any applications received for these products before the 4th January 2023 will continue to be processed in the normal manner.

The transaction announced with PTSB includes performing loans from our Micro SME division, and we have already written to customers who are impacted by that transaction. There is no impact for Micro SME customers who already have a loan or overdraft as a result of this announcement.

We will continue to support our customers through this withdrawal and customers can contact their Relationship Manager or our team on 0818 211 690 for further support.

Update 4th January 2023 Close

Update 4th January 2023

As announced on the 2nd November 2022, and effective the 4th January 2023, we will no longer accept applications from our Micro SME customers for new or increased loans and overdrafts.

We will continue to support our customers through this withdrawal and customers can contact their Relationship Manager or our team on 0818211 690 for further support.

Update 31st January 2023 Close

Update 31st January 2023

Today, 31st January 2023, we are announcing that after 31st March 2023, we will no longer accept new applications from any of our commercial customers for new or increased loans, overdrafts, invoice finance or trade finance. Any applications received for these products from existing commercial customers on or before 31st March 2023 will be progressed in the normal manner.

This does not apply to the Lombard Asset Finance business which remains open for business for all new and existing customers.

This latest announcement expands on the closure of application processing for the above products introduced for our Micro SME customers on 4th January 2023.

Update 3rd March 2023 Close

Update 3rd March 2023

We are announcing that effective from the 28 April 2023 Ulster Bank will no longer accept any applications for the Money Market Contract fixed term deposit offer. When existing customer accounts reach their maturity date the balance will be returned per the customer’s settlement instruction.

We will continue to support our customers through this withdrawal and customers can contact their Relationship Manager or our team on 0818 211 690 for further support. Please see our customer FAQs below for further information.

This latest announcement follows on from the announcement of 2 September 2022 on the closure of deposit applications for all customers, effective from 2 November 2022.