Written answers

Tuesday, 1 May 2018

Department of Finance

Banking Operations

Photo of Michael McGrathMichael McGrath (Cork South Central, Fianna Fail)
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83. To ask the Minister for Finance the steps the Central Bank has taken regarding system issues whereby money has not shown up in some bank accounts (details supplied); if the attention of the Central Bank was drawn to such cases; if the Central Bank is concerned that other banks will be impacted; and if he will make a statement on the matter. [18695/18]

Photo of Paschal DonohoePaschal Donohoe (Dublin Central, Fine Gael)
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I have been advised by the Central Bank that it is aware of an issue involving the bank accounts of certain bank customers in recent days. The Central Bank is monitoring the situation and is in contact with the institution in relation to this matter.

While the Central Bank cannot comment on individual interactions with regulated entities, Ulster Bank Ireland DAC (Ulster Bank) has been engaging with the Central Bank in relation to this matter.

Customers have a legitimate expectation of high quality, uninterrupted services, whether provided through traditional or online channels. The Central Bank expects all firms to have adequate systems and controls in place and where issues that impact customers arise they should be addressed and rectified urgently, particularly as customers are increasingly using and becoming dependent on online and mobile banking services. In this regard, the Central Bank expects firms to communicate clearly and promptly with affected customers when a technical incident occurs, including details of the impacted service, details of alternative access to services and an undertaking that identifiable loss will be remediated. Those expectations have been communicated to banks.

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