Ulster Bank file due soon

Mr Paterson said he had discussed the technical problems at Ulster Bank with the Chancellor of the Exchequer, George Osborne, the Secretary of State for Business, Innovation and Skills, Vince Cable, and the Exchequer Secretary to the Treasury, David Gauke).

He said his Northern Ireland Office colleague, Minister of State Hugo Swire, also spoke to the RBS Chairman and Chief Executive, “to impress on them the significant distress which had been caused to many Ulster Bank customers.”

He added: “I welcome the announcement on August 31 that Ulster Bank is to compensate customers affected by the computer failure and its commitment that none of its customers will be out of pocket.

“I will continue to monitor the situation and await the outcome of the independent investigation into the IT failure, which I understand will be available in the autumn.”