A BALLYGOWAN pensioner has said he was left red-faced with embarrassment after the Ulster Bank froze his accounts without warning.
Businessman Jim Kinghan said the situation made him understand how former UKIP-leader Nigel Farage must have felt after his recent banking scandal.
The 75 year-old local man said the first notice he had that his accounts were frozen was when a restaurant declined his card in front of friends, causing considerable distress.
While Mr Kinghan’s personal and business bank accounts were suddenly reactivated two weeks later, he was subsequently informed that he was no longer welcome at the bank.
The house removals and storage operator said that to add insult to injury, the bank refused to transfer his numerous standing orders and direct debits to his new accounts that he opened with Danske Bank.
Mr Kinghan has said that while Mr Farage was told his bank expulsion was due to ‘commercial reasons’, he has never been given any reason for being treated in such a ‘horrendous’ manner.
Mr Kingham’s solicitor, who wrote to the bank seeking clarification for his apparent pariah status, was not able to extract any reason either.
The elderly man explained how his difficulties arose last October when the Ulster Bank announced the closure of his Comber branch, with his accounts being transferred to the Newtownards site.
“I was with Ulster Bank in Comber for 22 years, and never had any bother, and always conducted my accounts properly, never bouncing cheques or anything like that.”
Mr Kinghan’s request to be transferred to the Dundonald branch was denied and the bank proceeded with the transfer to Newtownards.
It was soon after that he was frozen out of his accounts, last autumn.
“Very shortly after they moved my two accounts they were frozen, but they wouldn’t tell me why,” he said.
“I couldn’t deposit anything, I couldn’t withdraw anything and couldn’t use the hole-in-the-wall.
“It was very embarrassing and the first thing I knew of it was when I went out to dinner and my card was refused and everyone was looking at me – it was very embarrassing.
“I went into the branch and they wouldn’t give me my money or let me take any money out and they even bounced some of my Standing Orders when there was enough money in the accounts.
“This went on for more than two weeks and I was on the phone day and daily trying to find out why and to get any information and no one could tell me.
“I wrote letters and my solicitor wrote a letter and they wouldn’t give any reason at all,” he stressed.
“It was dreadful behaviour by the bank,” he said.
But suddenly, his accounts were re-opened again, just over two weeks later, prompting Mr Kingham to hope the mystery would be solved.
“Out of the blue they opened them again,” he revealed.
But then he received a letter from the bank informing him that had to go elsewhere for this banking.
The letter said: “We regret to inform you that following a recent review, we have decided to cease our banking relationship with you. This means you’ll have to make other banking arrangements outside of the NatWest Group.”
It gave no reason for this decision.
In a statement, the Ulster Bank said it was unable to make comments on the ‘specifics of this case’.
Stating it was subject to legal and regulatory requirements, and treated ‘compliance with them as a matter of priority’, it said: “This may mean Ulster Bank is required to delay or refuse to act on a customer’s instructions, and/or suspend or restrict a customer’s accounts and/or services.”
