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.

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:

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.