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?

​Talk to your Business Partner today

• 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.