Results 6,361-6,380 of 35,563 for speaker:Pearse Doherty

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Withdrawal from Irish Banking Market (Resumed): Engagement with Ulster Bank and KBC Ireland (19 Oct 2022)

Pearse Doherty: So that is an active account.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Withdrawal from Irish Banking Market (Resumed): Engagement with Ulster Bank and KBC Ireland (19 Oct 2022)

Pearse Doherty: I appreciate that but I want to get the bottom of this. There are 9,271 accounts that have been closed of the 17,291 that have a deadline of two weeks from Friday. How many other accounts that remain open have absolutely no activity and a nil balance; that basically are completely inactive? Do not categorise somebody who might have to pay their direct debit for their electricity or their...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Withdrawal from Irish Banking Market (Resumed): Engagement with Ulster Bank and KBC Ireland (19 Oct 2022)

Pearse Doherty: The number is 2,592. What are we left with, then? Is it 5,400, which is the figure I mentioned earlier on? We are therefore talking about 5,400 accounts that have some level of activity, either transactions, direct debits, maybe partial payments-----

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Withdrawal from Irish Banking Market (Resumed): Engagement with Ulster Bank and KBC Ireland (19 Oct 2022)

Pearse Doherty: I am just trying to figure this out, because they have a deadline of two weeks from Friday, do they not?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Withdrawal from Irish Banking Market (Resumed): Engagement with Ulster Bank and KBC Ireland (19 Oct 2022)

Pearse Doherty: There are 5,400 accounts with Ulster Bank that have some level of activity at different scales. Some of those could be wages and some of them could be mortgage. Some of them could be at a lower level, such as an iTunes bill, an ESB bill or whatever. Of those 5,400 accounts, the deadline for them to close their account is two weeks from Friday. Is that correct?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Withdrawal from Irish Banking Market (Resumed): Engagement with Ulster Bank and KBC Ireland (19 Oct 2022)

Pearse Doherty: Ms Howard is saying that Ulster Bank is on target. Did she think that after six months and she gave an extra month, that a month after the original deadline, having 5,400 active accounts out of 17,000 is a good target? I would argue that it is not good. That is one third of all accounts that are still active.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Withdrawal from Irish Banking Market (Resumed): Engagement with Ulster Bank and KBC Ireland (19 Oct 2022)

Pearse Doherty: Hang on. Can I just make this point? If you close their account, I know we will get to this point, but if you freeze their account and their electricity bill is not paid and they get disconnected, try telling that family the bank thought it was an inactive account.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Withdrawal from Irish Banking Market (Resumed): Engagement with Ulster Bank and KBC Ireland (19 Oct 2022)

Pearse Doherty: Ulster Bank is changing the rules of what the bank set out to do because it is not meeting its targets. The target was the closure of accounts. Now Ulster Bank is talking about inactive accounts. However, these inactive accounts are really accounts that have some activity on them.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Withdrawal from Irish Banking Market (Resumed): Engagement with Ulster Bank and KBC Ireland (19 Oct 2022)

Pearse Doherty: I have welcomed that step, so let us tease that step out now. Just imagine that I am one of the 5,400 people who have some level of activity on my account. Two weeks from Friday, the deadline will have passed and my account is to be frozen for one month. Ulster Bank will make an assessment now in terms of the activity on my account. If my ESB bill is to come out of my account, what will...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Withdrawal from Irish Banking Market (Resumed): Engagement with Ulster Bank and KBC Ireland (19 Oct 2022)

Pearse Doherty: It is frozen again.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Withdrawal from Irish Banking Market (Resumed): Engagement with Ulster Bank and KBC Ireland (19 Oct 2022)

Pearse Doherty: I appreciate that.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Withdrawal from Irish Banking Market (Resumed): Engagement with Ulster Bank and KBC Ireland (19 Oct 2022)

Pearse Doherty: I appreciate that. I just want full clarity on the type of activity that will cause Ulster Bank to freeze the account. If one of those one in five transactions that are taking place within 30 days is my ESB bill, the account will be frozen. Is that correct? If my mortgage direct debit is one of the five transactions that has happened in the account in the past month, will my account be frozen?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Withdrawal from Irish Banking Market (Resumed): Engagement with Ulster Bank and KBC Ireland (19 Oct 2022)

Pearse Doherty: I am trying to find out, with respect, what heavy reliance is. Is it one’s electricity bill, mortgage, mobile phone bill etc.?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Withdrawal from Irish Banking Market (Resumed): Engagement with Ulster Bank and KBC Ireland (19 Oct 2022)

Pearse Doherty: Of the 5,400 who have some level of activity on the account, as things stand, if nothing changes between now and two weeks from Friday, how many of those accounts will be closed or suspended?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Withdrawal from Irish Banking Market (Resumed): Engagement with Ulster Bank and KBC Ireland (19 Oct 2022)

Pearse Doherty: We all hope so.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Withdrawal from Irish Banking Market (Resumed): Engagement with Ulster Bank and KBC Ireland (19 Oct 2022)

Pearse Doherty: Ms Arnett expects that 1,000 of this type of account will be frozen. Is that correct? Obviously the inactive ones will be frozen.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Withdrawal from Irish Banking Market (Resumed): Engagement with Ulster Bank and KBC Ireland (19 Oct 2022)

Pearse Doherty: There are 5,400 with some level of activity that have not been closed. If Ms Arnett expects that 1,000 will be frozen two weeks from Friday, how many does she expect will close between now and then?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Withdrawal from Irish Banking Market (Resumed): Engagement with Ulster Bank and KBC Ireland (19 Oct 2022)

Pearse Doherty: Everyone has got letters at this stage.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Withdrawal from Irish Banking Market (Resumed): Engagement with Ulster Bank and KBC Ireland (19 Oct 2022)

Pearse Doherty: Perhaps I will frame the question another way. Of the 5,400 that have some level of activity that have a deadline of two weeks from Friday, how many of them will still be open after the deadline but Ulster Bank will not freeze for the reasons that have been outlined by Ms Arnett?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Withdrawal from Irish Banking Market (Resumed): Engagement with Ulster Bank and KBC Ireland (19 Oct 2022)

Pearse Doherty: Does Ms Howard expect this trend to continue throughout the whole process? We are only talking about the April ones. If you were sitting down to do this, you would hope these numbers would be very different. Ms Howard said Ulster Bank will not freeze roughly 4,000 accounts because there is some level of activity and it will probably freeze 1,000 of them. That is one third of all accounts...