Ulster Bank has introduced additional support for businesses by announcing that invoices from its suppliers will be paid much more quickly for the foreseeable future.

To help ease pressures on cashflow amongst local firms, including micro businesses, the bank said that its suppliers will now receive payment within four business days.

It is the latest support measure that Ulster Bank has announced for businesses in Northern Ireland during the coronavirus crisis.

Other measures include additional lending support to help customers adapt to the new conditions, the availability of fee-free loans, taking part in relevant government schemes, and measures to support customer cash flow and provide additional working capital.

On the personal banking side, Ulster Bank has introduced dedicated support lines for vulnerable customers and NHS workers, is providing mortgage and load deferrals of up to three months, and has frozen overdraft interest at current rates for personal customers for at least three months. It has also removed all other overdraft fees and charges, meaning that all customers who use their overdraft for the three months from Monday 30th March will pay less.

Mark Crimmins, Head of Ulster Bank in Northern Ireland, said: “Businesses require additional support in the current environment, and we are working hard to do that. We have already supported many hundreds of companies in Northern Ireland since the start of the coronavirus crisis through a range of measures.  This is one aspect of that support which will help ease cashflow pressures for many firms.”

Love Belfast
Belfast guide to restaurants, bars, nightclubs, concerts, events, hotels, entertainment, special offers, news, gossip, travel, festivals and culture. http://lovebelfast.co.uk

Related Articles

Recruitment resilient in face of lockdown

The latest ‘NIJobs.com Job Report with Ulster Bank’ indicates that some sectors are displaying resilience as lockdown restrictions tighten across Northern Ireland. Recruitment has turned...

The Prince’s Trust and Ulster Bank launch £5 million grant fund for young entrepreneurs affected by coronavirus

The Prince’s Trust and Ulster Bank have today announced the launch of a £5 million fund to help young entrepreneurs across the UK to...

Three months to go until Northern Ireland’s biggest agri-event

Ulster Bank kicks off the countdown to 2020 Balmoral Show Less than three months remain until this year’s Balmoral Show in partnership with Ulster Bank...

Leave a Reply

Stay Connected

- Advertisement -

Latest Articles

Give the gift of luxury at Galgorm Spa & Golf Resort

Take the hassle out of Christmas shopping this year and give the gift of luxury at the click of a button with a voucher...


This week, as we celebrate the power of books and rediscover the joy of reading during Book Week NI and Irish Book Week, Belfast...

The Kraken Rum’s ‘Screamfest’ returns in virtual guise this Halloween, with ‘in real life’ video game, Starring Game of Thrones Actor, Iwan Rheon

·         The Kraken Rum has teamed up with Iwan Rheon - best known for his role in Game of Thrones - to become the leading...

Half-term activities to help raise funds for the NSPCC

This half term, it could be difficult to get out and take part in the usual activities you’d enjoy with your children, but if...

Jet2.com and Jet2holidays welcomes Canary Islands return and announces restart dates from Belfast International Airport

UK’s leading operator to the Canaries announces that flights and holidays will restart from 31st October onwards Announcement comes after the Winter Sun hotspots of Tenerife, Gran Canaria, Lanzarote and Fuerteventura are removed...