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KBC Business Current Accounts are not moving to Bank of Ireland. This means that your KBC Business Current Account will be closed at a date in the future. To ensure you still have access to a Business Current Account you will need to open a new Business Current Account with a new provider if you do not already have an alternative Business Current Account that you can use.
From June 2022 we will begin writing to Business Current Account customers on a phased basis to give you 6 months’ notice of the closure of your account and this process will continue until all customers have been contacted. You do not need to take any action until you receive this notice from us.
In the meantime, we’re here to help with any queries about your KBC Business Current Account.
We apologise in advance for any inconvenience this may cause and we are ready to help you should you have any queries right now, please get in touch with us.
We will send you a letter giving you at least 6 months’ notice of your account closing and providing you with more details about what’s happening to your Business Current Account. Letters to customers will issue on a rolling basis beginning in June 2022 and continuing into early 2023.
If you don’t have a Business Current Account elsewhere you will need to open a new one. You may want to begin considering your Business Current Account options. You can decide to use the switching process or close your KBC Business Current Account . We have put together some helpful tips on how to go about this below.
You do not need to complete any actions until you receive formal notice from us which will start issuing to customers from June 2022.
Steps to take when the time comes to move.
When you have completed the actions above, the next step is to close your account. Your Business Partner will be able to help you with this.
Once your account is closed you will not be able to re-open your account and any cards on the account will stop working. You should let all card holders know this. Make sure your new account is up and running before completing the final steps.
You won’t be charged maintenance fees from June to allow you to do this.
If you prefer, we will close the account on your behalf once your notice period is complete. You should still ensure that your balance is zero but you won’t have to take any further action.
You could also avail of the Switching process with the help of the new Business Current Account provider of your choice. If you want to complete the Switching process you should contact the new provider of your choice for a switching pack which provides all the information involved in switching. You can also find all the information you need to know on www.ccpc.ie
To ensure that your day to day banking needs are not interrupted and that you have a Business Current Account which you can continue to use it is important to ensure that you have a new Business Current Account up and running before the end of your notice period. If you are having any issues opening a new Business Current Account elsewhere please contact us and we may be able to provide you with more time.
As KBC Business Current Account are not moving to Bank of Ireland, they will be closing at a future date. Business Overdrafts will, therefore, be cancelled when your Business Current Account closes. You will be given 6 months’ notice in line with your Business Current Account notice.
Before your overdraft is cancelled you will need to clear the overdraft and bring your account balance to zero. Your KBC overdraft will not automatically transfer, should you require an overdraft after this point, you will need to apply for one by completing a credit application with another provider.
When deciding your new Business Current Account provider it may be useful to discuss this with them in advance.
We will write to you again with more information and next steps.
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