Oireachtas Joint and Select Committees

Wednesday, 1 February 2023

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

Engagement with Ulster Bank and KBC Bank Ireland

Photo of Pearse DohertyPearse Doherty (Donegal, Sinn Fein)
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Okay. That is welcome. The bank will be aware of the implications of the Assisted Decision-making (Capacity) (Amendment) Act 2022, which is causing serious problems right across the banks and terrible problems for parents, by the way. There is no guidance for parents of vulnerable children or adults who have bank accounts and who lack capacity. I understand there is a bit of an extension for financial institutions. I refer to cases where an individual was able to operate a bank account on behalf of a person who may have lacked capacity. That will no longer be the case. We have serious problems because Ulster Bank is closing these accounts at the minute. How is the bank dealing with those cases?