Results 5,421-5,440 of 10,319 for speaker:Jim O'Callaghan

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Withdrawal from Irish Banking Market: Engagement with Ulster Bank and KBC Ireland (18 May 2022)

Jim O'Callaghan: If my debt comes within that section of the baggage that is being sold to Bank of Ireland, that bank will come after me and, if not, then KBC Bank plc will still come after me.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Withdrawal from Irish Banking Market: Engagement with Ulster Bank and KBC Ireland (18 May 2022)

Jim O'Callaghan: Yes, but ultimately, even though KBC will have departed the Irish market, Mr. Jansen still envisages situations where KBC Ireland plc may be instituting proceedings against former customers.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Withdrawal from Irish Banking Market: Engagement with Ulster Bank and KBC Ireland (18 May 2022)

Jim O'Callaghan: I ask Ms Howard the same initial question. What does Ulster Bank intend to do with Ulster Bank Ireland DAC?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Withdrawal from Irish Banking Market: Engagement with Ulster Bank and KBC Ireland (18 May 2022)

Jim O'Callaghan: I apologise; I did not hear the first part of Ms Howard's answer. Did she say Ulster Bank Ireland DAC will ultimately be wound up or is the intention to keep it going as a company?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Withdrawal from Irish Banking Market: Engagement with Ulster Bank and KBC Ireland (18 May 2022)

Jim O'Callaghan: Yes.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Withdrawal from Irish Banking Market: Engagement with Ulster Bank and KBC Ireland (18 May 2022)

Jim O'Callaghan: Okay. Taking my previous example again, if I happen to owe Ulster Bank €5,000 today and a year from now that has not been repaid and my account is being closed, Ulster Bank Ireland DAC, or an entity under a new trading name, will still be the entity to institute proceedings.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Withdrawal from Irish Banking Market: Engagement with Ulster Bank and KBC Ireland (18 May 2022)

Jim O'Callaghan: While I am with her, I think Ms Howard stated that to date 120,000 letters had been issued by Ulster Bank. Is that correct?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Withdrawal from Irish Banking Market: Engagement with Ulster Bank and KBC Ireland (18 May 2022)

Jim O'Callaghan: Furthermore, she said she hoped all customers will have been written to by the end of September.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Withdrawal from Irish Banking Market: Engagement with Ulster Bank and KBC Ireland (18 May 2022)

Jim O'Callaghan: On the six months, is that a rolling period such that if Ulster Bank writes to me today, I will have until November?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Withdrawal from Irish Banking Market: Engagement with Ulster Bank and KBC Ireland (18 May 2022)

Jim O'Callaghan: Let us say Ulster writes to me and I decide not to avail of the switcher process and do not do anything - I know the bank may be critical of customers who do not respond to its correspondence - what will happen to my account? Will Ms Howard take us through that?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Withdrawal from Irish Banking Market: Engagement with Ulster Bank and KBC Ireland (18 May 2022)

Jim O'Callaghan: What will happen if they do not cash the cheque?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Withdrawal from Irish Banking Market: Engagement with Ulster Bank and KBC Ireland (18 May 2022)

Jim O'Callaghan: What will happen if customers do not claim it?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Withdrawal from Irish Banking Market: Engagement with Ulster Bank and KBC Ireland (18 May 2022)

Jim O'Callaghan: Which fund?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Withdrawal from Irish Banking Market: Engagement with Ulster Bank and KBC Ireland (18 May 2022)

Jim O'Callaghan: If the bank has departed the country, will the money still come back into the State fund?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Withdrawal from Irish Banking Market: Engagement with Ulster Bank and KBC Ireland (18 May 2022)

Jim O'Callaghan: Will that remain the case even if the bank does not have a licence here at that stage?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Withdrawal from Irish Banking Market: Engagement with Ulster Bank and KBC Ireland (18 May 2022)

Jim O'Callaghan: What is the bank's final date after which it expects no further transactions to take place on any Ulster Bank accounts in Ireland?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Withdrawal from Irish Banking Market: Engagement with Ulster Bank and KBC Ireland (18 May 2022)

Jim O'Callaghan: Is there any leeway on the part of Ulster Bank in respect of that period? Might it be more appropriate, if circumstances develop, to have some flexibility to extend it?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Withdrawal from Irish Banking Market: Engagement with Ulster Bank and KBC Ireland (18 May 2022)

Jim O'Callaghan: Who has criticised the bank in that regard?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Withdrawal from Irish Banking Market: Engagement with Ulster Bank and KBC Ireland (18 May 2022)

Jim O'Callaghan: Mr. Jansen might answer the same question. What is the final date on which he expects KBC to operate any bank accounts in Ireland?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Withdrawal from Irish Banking Market: Engagement with Ulster Bank and KBC Ireland (18 May 2022)

Jim O'Callaghan: One of the concerns of this committee is that there may be a certain degree of chaos as a result of the transfer of accounts and the impact that may have on direct debits and standing orders. Does Mr. Jansen have any concern about the position in which customers of utility companies will find themselves after the date on which the bank exits the market?