Oireachtas Joint and Select Committees

Wednesday, 18 May 2022

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach

Withdrawal from Irish Banking Market: Engagement with Ulster Bank and KBC Ireland

Photo of Pearse DohertyPearse Doherty (Donegal, Sinn Fein) | Oireachtas source

We know that. With respect, what happens? We know the supports. Ms Arnett wants to talk about the supports. I want to talk about what happens to the individual who cannot clear their overdraft, and has not closed their account. We know that Ulster Bank will close their account after six months and issue them a cheque 30 days after that if there are any funds. I am asking for clarity and honesty from the bank about what it will do to the individual who has a €2,000 overdraft and by then has not opened a new account or closed their account. Ulster Bank has closed their account. What is happening to the debt? Because they will have an overdraft on an account that no longer exists.

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