Ulster Bank customers are being dealt their final warning to switch accounts before finances are frozen from next week.
The original deadline of October was pushed back to give customers more time to sort their finances, but it's now understood that the plan is to kick off the process of freezing current and deposit accounts from November 11.
Once a person’s account is frozen, they lose access to their money immediately and all outgoing payments and direct debits cease.
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At this point, a customer will have as little as 30 days to sort out their finances before the account is shut entirely by the bank, the Irish Independent reports.
It is understood that holders of the accounts that will be affected by the upcoming freeze were given notice in April and May of a six-month deadline to shut their account and switch to a new provider.
However, Ulster Bank will reportedly prioritise accounts that receive any pension and social welfare payments so they remain active longer and will target others with the first wave of freezes.
Customers who use Ulster Bank as their main account, but have not moved to a new provider, will still be offered further support to make the switch before this action is taken.
The bank confirmed that over 70% of customers were notified in April and May and yet close to a third of those customers have not left Ulster Bank and a smaller number have begun the process of switching but have not completed the process.
Customers are now being given a final nudge and are being asked to contact their bank if they have any issues.
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