Important Customer Notice - Consumer Finance - Updated 22nd October 2021

KBC Bank Ireland would like to draw your attention to some important information

You may have seen the news about a recent announcement by KBC Bank Ireland in the media – click here for the announcement.

New Customers

Personal Loans
We are accepting new applications for Personal Loans.
You should be aware that if you decide to apply for a Personal Loan, should a Binding Agreement with Bank Of Ireland receive regulatory approval, your account will be transferred to Bank of Ireland.

Should your account be transferred, your new provider may update your terms and conditions. Any changes to your terms and conditions must be made in line with all regulatory and contractual obligations, including providing you with sufficient notice of these changes.  

Personal Credit Card
We are accepting new applications for Personal Credit Cards.
You should be aware that if you decide to apply for a Personal Credit Card, should a Binding Agreement with Bank Of Ireland receive regulatory approval, your account will be transferred to Bank of Ireland.

Should your account be transferred, your new provider may update your terms and conditions. Any changes to your terms and conditions must be made in line with all regulatory and contractual obligations, including providing you with sufficient notice of these changes. 

Overdraft
From 07th December 2021 KBC will pause the acceptance of new applications for Personal Overdrafts including applications from existing KBC customers.There is no change for existing Overdraft customers, and you can apply to make changes to your Overdraft as per usual including apply for an increase in your overdraft limits
If you have applied for an overdraft before 07th December  your application will be processed as normal.

Existing Customers

Personal Loans
While no immediate impact is foreseen for your Personal Loan, should a Binding Agreement with Bank Of Ireland receive regulatory approval, your Personal Loan will be transferred to Bank of Ireland.
Should your account be transferred, your new provider may update your terms and conditions. Any changes to your terms and conditions must be made in line with all regulatory and contractual obligations, including providing you with sufficient notice of these changes.  

When there are further updates we will write to you with any additional information and support you may require.  We will ensure you are provided with plenty of notice of any impact and/or changes to your account in line with all legal and regulatory protections.

Personal Credit Card
While no immediate impact is foreseen for your Personal Credit Card, should a Binding Agreement with Bank Of Ireland receive regulatory approval, your credit card will be transferred to Bank of Ireland.  

Should your account be transferred, your new provider may update your terms and conditions. Any changes to your terms and conditions must be made in line with all regulatory and contractual obligations, including providing you with sufficient notice of these changes.  

When there are further updates we will write to you with any additional information and support you may require.  We will ensure you are provided with plenty of notice of any impact and/or changes to your account in line with all legal and regulatory protections.

Overdraft
While no immediate impact is foreseen for your Overdraft, should a Binding Agreement with Bank Of Ireland receive regulatory approval, it will be cancelled at some point in the future.

When there are further updates we will write to you with any additional information and support you may require.  We will ensure you are provided with plenty of notice of any impact and/or changes to your account in line with all legal and regulatory protections.

We've put together some frequently asked questions for you:

Personal Loan FAQs

The Small Print

  • While no immediate impact is foreseen for your Personal Loan, should a Binding Agreement with Bank Of Ireland receive regulatory approval, your Personal Loan will be transferred to Bank of Ireland.

    Should your account be transferred, your new provider may update your terms and conditions. Any changes to your terms and conditions must be made in line with all regulatory and contractual obligations, including providing you with sufficient notice of these changes. 
     
    When there are further updates we will write to you with any additional information and support you may require.  We will ensure you are provided with plenty of notice of any impact and/or changes to your account in line with all legal and regulatory protections.
  • You will keep your current fixed rate whether the Personal Loan remains with KBC or whether the personal loan is transferred by KBC to Bank of Ireland. 
  • Should you wish to switch your personal loan, you can do so by engaging with your lender of choice.
     
    Please note, you may be required to pay a break funding fee if you switch providers during your fixed rate period. For further information please contact us on 1800 93 92 44. 

    You can visit the Competition and Consumer Protection Commission's website for more information (https://www.ccpc.ie/).  

Credit Card FAQs

  • While no immediate impact is foreseen for your Personal Credit Card, should a Binding Agreement with Bank Of Ireland receive regulatory approval, your Credit Card will be transferred to Bank of Ireland.  

    Should your account be transferred, your new provider may update your terms and conditions. Any changes to your terms and conditions must be made in line with all regulatory and contractual obligations, including providing you with sufficient notice of these changes.  

    When there are further updates we will write to you with any additional information and support you may require.  We will ensure you are provided with plenty of notice of any impact and/or changes to your account in line with all legal and regulatory protections.
  • There is no impact on your Credit Card as a result of the announcement. If your Credit Card is due to expire you will receive a new card. We are committed to keeping customers updated if circumstances change.
  • There is no immediate impact on your Credit Card rewards as a result of the announcement.

    Should your account be transferred, your new provider may update your terms and conditions. Any changes to your terms and conditions must be made in line with all regulatory and contractual obligations, including providing you with sufficient notice of these changes.