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WHAT HAPPENS NEXT?

KBC Credit Cards

KBC entered an agreement with Bank of Ireland where they would acquire the majority of KBC Bank Ireland’s loan assets and deposits. This Binding Agreement has been approved by the Competition and Consumer Protection Commission and is still subject to ministerial approval. Regardless of the outcome of this agreement KBC have begun the process of exiting the Irish Market.

We want to help you start preparing for any potential future changes and to give you further details on what will or may happen to your account.

What's happening?

KBC Retail Credit Cards will be moving to Bank of Ireland. Your credit card limit will remain the same.

You do not need to do anything right now. We will write to you again with more information and next steps.
In the meantime, we’re here to help with any queries about your Credit Card.

What to expect next...

If you are an existing customer you will shortly receive a booklet which clearly outlines what is happening to all KBC products in detail.


Should we receive ministerial approval, KBC will send you a letter providing you with at least 60 days’ notice before your Credit Card transfers to Bank of Ireland. This will include more information about what is happening to your Credit Card.

Your Credit Card will transfer automatically.

In the future, should we receive ministerial approval, Bank of Ireland will write to you as well with important information.

Should your Credit Card transfer to Bank of Ireland, they will send you your new Bank of Ireland Credit Card and PIN along with clear instructions on how to activate your Bank of Ireland Credit Card and update your payment methods.

Should your Credit Card transfer to Bank of Ireland, they will write to you let you know what date your KBC Credit Card will stop working and when you can start using your new Bank of Ireland Credit Card. Once you’ve activated your new card, we’d recommend you destroy your old KBC Credit Card.

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Important things to know

Once your credit card transfers to Bank of Ireland you may need to update your payment method. There is no need to do this until closer to the transfer date.

Please make any additional card holders aware of any updates.

Any Stamp Duty due will not be charged twice.

Any changes by Bank of Ireland 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.

What do I need to do now?

Please read all communications carefully to make sure you have don’t miss any important information about your credit card.

You should continue to make your KBC credit card payments as normal.

If you’re worried about making your credit card payments, please get in touch with the KBC Arrears Support Team at 1800 936 287 or click here.

Make sure your contact details are correct and up to date so we can keep you informed, and Bank of Ireland can contact you directly about the transfer of your credit card.

Credit Cards Help Hub

Help Hub

We know there is a lot of information, we've put together a quick summary and some frequently asked questions too.

FAQs


Frequently asked questions

What is the impact of this announcement on my Credit Card?

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

Will my repayment date stay the same?

There will be no change to your current payment date.  It is expected that your repayment date will remain the same but Bank of Ireland will be in touch with more details should your Credit Card transfer.

My Credit Card is due to expire before the transfer date. Will KBC still send me a new one?

Yes you will receive a new card.

Will my direct debit instruction transfer to Bank of Ireland?

No. Direct Debits do not automatically transfer to Bank of Ireland. Bank of Ireland will write to you with the new payment details.

Can I continue to make my Credit Card payments from my KBC Current Account?

For now you can continue to make payments as normal. See the Current Account page for more details.

I have recurring payments on my KBC Credit Card, what do I need to do?

If you have payments or recurring payments from your KBC Credit Card (e.g., VHI subscription. Netflix) you should contact the service provider after your card has transferred to ensure the payments have been set up correctly.

My Credit Card is due to expire, will I get a new one?

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.

I receive a 1% cash reward for all grocery and online purchases I make on my KBC Credit Card. What will happen to the cash rewards if my Credit Card is transferred?

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.  

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