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Rich customers pull money from banks offering paltry interest rates

Wealth-management clients are moving deposits into higher-yielding Treasurys and money-market funds

United statesPremium deposits at bankRich customersBank interest ratesWealth management clientsMoney market fundsHigher yieldsFederal reserveBanking customers

Ulster Bank to write to customers, giving them six months to close current and deposit accounts

It’s part of the NatWest-owned bank’s phased withdrawal from the market in the Republic of Ireland, announced in February 2021.

Republic of irelandSam boalJane howardUlster bankForeign exchangeConsumer protection commissionSupport theUlster bank chief executive jane howardBanking customersJane howardOthe banksUlster bankLster bank closureUlster bank withdrawal

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