Unhappy with Commercial Manager's conduct at Ulster Bank

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Banking2006

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We opened a business account with Ulster Bank in West Dublin approximately 2 months ago. During this period, we had reason to call the Commercial Manager. She wasn't happy that as a start-up business that we were not interested in taking one of her loan products (instead we used personal funds for the purchase of equipment, etc).

Now we have received a letter from the said Manager advising that the account has been reviewed and the bank are not happy with the conduct of same. She advises that the account will close in 28 days.

Essentially, we would not be happy to continue banking with that branch due to the unprofessional conduct of the Manager. However, what are our rights? what should we do?
 
We are not entirely sure- but we moved address shortly after opening the account and checked the bank's website and could only find the Regional Manager's email. We duly emailed him and were 'told off' in a follow-up conversation with the Branch's Commercial Manager. She advised that we shouldn't have emailed the regional manager with such changes! While we agree, we assumed it would just be a matter of re-directing our email... Obviously not at Ulster Bank!!!

[broken link removed]
 
I don't think you have any rights as such in this instance. You don't have a right to keep a bank account and by the sounds of things you are unlikely to want to keep an account with UB now anyway.

However, if I were you I would get on to UB head office and tell them you have a complaint about one of their staff. If you put it correctly then they should be somewhat concerned that one of their managers is turning away business like that. I would have thought that (especially with business accounts) banks are still interested in accounts in the long run and shouldn't be concerned about short run issues - they are more interested in the €x0,000s of charges you will be paying when your business goes huge rather than the €x0s of charges you are paying now.

I would check the T&C to see if you did in fact breach any terms or conditions since opening the account - this may give the manager some grounds for the closure, but I wouldn't regard talking to the regional person as a breach of T&C as that would be ridiculous.

Cheers,

z
 
Have you been financially disadvantaged in some way? I can't immeditaely see that you have.

But it appears that Ulster Bank don't want your business. In that case, vote with your feet and transfer to a competitor-I'm sure that is possible-you didn't avail of any offer that tied you to Ulster Bank when signing up?

Certainly complain to the Regional Manager, and possibly the head of business banking in Ireland. I don't know if the Financial Regulator will be of any help or have any interest in your case.

I'm sure you don't need the trouble of moving accounts so soon after opening an account with Ulster Bank (especially since there is no switching code for business accounts at this time?), but in the long run it would appear to be worth it.

Post crossed with zag's
 
Hi everyone

Thanks for your comments and advice. I agree we will be moving with our feet.

However, we would like to know if anyone experienced similar issues.

We certainly won't want to be adding any euros to the Ulster Bank balance sheet!
 
Several of the banks in my neck of the woods seem to be quite happy to turn away or "discourage" custom from new business start-ups. I have heard similar stories from NIB, BOI and AIB in the past 12 months or so. I presume they do some sort of "risk profiling" on prospective business customers and are happy to turn people away on the basis of this profiling.
 
Hi ubiquitous

What is 'risk-profiling'?

I should add that we advised the Commercial Manager from the outset that it was highly unlikely we would ever require loan funding for our business!
 
I left UB for BOI a few years ago, due to poor service etc, BOI gave me their free banking package for 2 years even though we werent a start up. complain to a regional manager and move banks, simple as that really.
 
Thanks C for details re Bank of Ireland.
I think we shouldn't really complain as that would actually help the bank to 'improve'- if that was possible! In any case, move and let the customers who remain 'put up' with the Commercial Manager's attitude!
 
Hi
Do what i did, dump them and open an a/c with Bank of scotland, free online banking and they are in the middle of opening up branches nationwide.
Ulster Bank screwed me as well and I believe it was because I didnt get a loan from them, I used start up capital, they still charges per quarter for the account though (as they were entitled to do)
With BOSI I pay all my suppliers etc via online banking
Rgds
Vicar
 
Banking2006 said:
What is 'risk-profiling'?
Click to expand...
Assessing the potential risk of a customer based on their circumstances and actuarial or other empirical data about risk factors etc.
 
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