Some Ulster Bank customers with outstanding balances on personal credit cards have had their debts written-off.
The bank, which closed its operations here last year, says customers with outstanding balances who previously engaged with the bank have had their accounts cleared.
Ulster Bank says the process will have no negative impact on the credit ratings of these customers.
However, personal credit card customers with outstanding balances who haven't been making payments or been in touch, have been given 60 days' to contact the bank.
The Irish Times' Consumer Affairs Correspondent, Conor Pope says it's a very unexpected move by a bank.
"It is kind of unprecedented that there would be this level of debt forgiveness in the Irish market as a result of a bank exiting.
"It's also important to stress that people who didn't make those regular monthly payments to their credit car debt with Ulster Bank and the people who are in arrears on their credit card debt will still either have to clear their balances or have their credit ratings impacted into the future."
Conor Pope continued to say that thousands of Ulster Bank customers have benefited from the debt write-offs.
"They had around 75,000 credit card customers who still would have had outstanding balances.
"Alot of those people would have cleared their credit card debts but some of those people, and that would be a number in the thousands, would have kept maintaining their monthly payments who wouldn't have cleared the debt.
"Those people will be the beneficiaries of this move from Ulster Bank.
"It is almost unprecedented and I certainly would not be relying on this as a way of managing my finances into the future."
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