Switching

Switching your business account from your current bank to KBC Bank is a lot easier than you might be thinking.

Your Business Partner will guide you through the steps involved. Call 1800 804 414 to get started.

In the meantime, here’s a quick overview of the three steps involved:
 

Step 1 - Open your KBC Business Current Account

For this we will need a fully completed application form along with the following:

  • For Partnerships/Sole Traders
    • Proof of identity and residential address for
      • All Account Holders
      • Additional Authorised Signatories (where applicable) plus copy of Partnership Agreement (where applicable)
  • For Limited Companies
    • Proof of identity and residential address for
      • Two Directors or One Director and Company Secretary
      • any Beneficial Owner who owns more than 25% shares of the business.
      • Additional Authorised Signatories (where applicable)
    • Plus Sight of Original Certificate of Incorporation and Sight of Original Company Constitution/ Original Memo And Articles of Association.
  • If you are making a credit application, we may require additional items such as:
    • Copy of Business Plan/Financial Projections
    • Most recent set of Audited/Certified Accounts
    • Copies of Bank Statements from your Previous Bank
Your Business Partner will advise further as part of the application process.

 

Step 2 – Getting ready to Switch

Your Business Partner will help you with the advance planning and documentation that will prep you for the switch. Here’s what you need to do:  

Step 3 - Making the Switch


Ready to get started?

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  • Choose a date to make the switch. This should be one when there is relatively low activity on the accounts.
  • Complete the switching form. This authorises KBC and your previous bank to make the switch.
  • Ensure that the signatories on the form match those which your previous bank has on record.
  • Make sure your payroll system is updated to deal with the switch.
  • Make sure to update your banking details on your invoices, stationery, etc.
  • Make sure there is enough funds in your new and old accounts to cover any transactions that take place during the switch.
  • KBC will contact your previous bank to arrange the closure of your old business current accounts if you request this.
  • Your previous bank will notify the originators of your direct debits operating under the SEPA scheme of your new KBC Business Current Account details.
  • KBC will set up your active standing orders as soon as we receive the list from your old bank.
  • That’s it. You are then up and running with your new KBC Business Current account.