No, Current Account closure notices will start to issue to customers from 1st June on a phased basis. The closure notices will issue over a number of months into early 2023 until all customers have been contacted. So, some customers may only get their notice in early 2023. Once you have received your Current Account closure notice, you will then have six months to switch or close your account. You will continue to be afforded all of the relevant legal and regulatory protections.

Please note that you are not required to take any actions until you have been contacted by us however you may want to start considering other account providers now should you require one. 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.

When you are ready to take action, we are ready to help and are committed to supporting you should you decide to switch your account.

We also have a dedicated Customer Service Team who are here to help and we are applying additional resources to that team to ensure it is easy and convenient for you to speak with us. We understand you may have concerns or questions and if so, please give us a call on 1800 93 92 44 or you can email us at customerservices@kbc.ie. You can find our opening hours here.

Customers can also visit the Competition and Consumer Protection Commission's website for more information on switching (Switching your bank account - CCPC).

Also if you feel you may be vulnerable and may need some extra assistance, we have a dedicated phone line and dedicated vulnerable customer care team who are specifically trained to support customers who may be vulnerable. Vulnerable Customers can call 1800 804 472.

Should you wish to switch your Current Account now, you will need to choose who you want to bank with. When you are ready to take action, we are ready to help and are committed to supporting you should you decide to switch your account. You can decide to close your KBC Current Account or use the switching process. 

Should you wish to close your account yourself here are some key steps to follow;

Step 1: Choose Your New Provider
You should now start considering who you would like to open your new Current Account with. 
You will find useful information about the different Current Account providers at: www.ccpc.ie/consumers/money/banking/or www.bonkers.ie/compare-current-accounts/

Tip: It can take some time to get set up with a new Current Account so you can research your options now before you get the formal notice of your Current Account closing. When you get your formal notice you will have six months to move or close your account

Step 2: Move Your Payments
Once you have opened your new account there are a few important things you need to do to get set up. You should take some time to review the money coming into and out of your account so you can ensure your new payments are set up and not disrupted.

Money In
Make sure you let anyone who makes payments to your account know you’ve changed accounts. For example, make sure you tell your employer or the Department of Social Protection that you’ve changed banks so your wages go to the right account.
To do this you will need to contact your creditors and give them your new IBAN (which your new bank will provide).

Money Out
If you have standing orders or direct debits coming from your KBC Current Account, such as electricity bills, mortgage repayments or insurance payments you will need to ensure these are being paid from your new Current Account. Remember to check the dates of your regular direct debits and standing orders to make sure that you do not miss any payments.

Direct Debits:
A Direct Debit gives a company permission to take a regular payment from your account e.g. your monthly Electricity Bill.  You sign a direct debit mandate to give the company permission to take the payment from your account. You will need to ensure that you have contacted the providers with your new IBAN i.e., if you pay an electricity bill by direct debit you will need to contact your electricity supplier and provide them with your new account details.

Standing Orders:
A standing order is a regular payment you have set up to pay other people. You will need to set these up yourself with your new bank. They can talk you through how to do this.

Subscriptions:
Sometimes regular payments will be linked to your Debit Card e.g., Netflix / Spotify / Gym Membership. You will have to notify these companies of your new card details when you get them so that the payments keep running.

Tip: eStatements are a great way of reminding you what payments you have in and out of your account on specific dates.

Tip: Updating payments in and out can take time so as soon as you have your new account details you should ensure you give providers your new IBAN as quickly as possible.

Tip: To help with this you can find a list of all your existing standing orders and direct debits on your KBC App.

Step 3: Move your money
Before closing your account you will need to move your money and bring your balance to zero. You can do this with your KBC App or by sending us a written instruction to KBC Bank Ireland, Sandwith Street, Dublin 2.

If you decide to complete to move your money simply select make a transfer on the KBC app on the account summary screen select transfer; add your new Current Account as a payee and confirm the transfer. Remember we have limits in our App per day so you might have to spread it over a couple of days. It usually takes days 1 -2 working days for your money to arrive in your other account.

Tip: Make sure your account balance is zero so that your account can close.

Step 4: Close
When you have completed the actions above, the next step is to close your account.
Once your account is closed you will not be able to re-open your account and your debit card will stop working. 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.

There are three ways to tell us you are ready to close your account.

1. Don’t do anything and we will close your account for you at the end of your notice period, remember to make sure your balance is at zero.

2. Drop in to your nearest KBC Hub.

3. Write to us with your instructions at KBC Bank Ireland, Sandwith Street, Dublin 2.

Make sure to include the account number of the accounts you wish to close and that all account holders sign the instructions. Make sure to bring account to zero.

No, Current Account closure notices will start to issue to customers from 1st June on a phased basis. The closure notices will issue over a number of months into early 2023 until all customers have been contacted. KBC mortgage customers will not receive their closure notification until at least September 2022.

From the 1st of June 2022, if  you decide to close your KBC Current Account your Mortgage Discount will be honored by KBC Bank Ireland and by Bank of Ireland should your mortgage transfer to Bank of Ireland if the Binding Agreement receives ministerial approval. In the meantime, you should continue to adhere to the KBC conditions associated with the discount i.e. continue to have your salary mandated to your KBC Current Account.

There is no immediate impact on your KBC Mortgage discount as a result of this announcement. Should a Binding Agreement with Bank of Ireland receive ministerial approval, your KBC Mortgage will transfer to Bank of Ireland at a future date .

Current Account closure notices will start to issue to customers from 1st June on a phased basis. The closure notices will issue over a number of months into early 2023 until all customers have been contacted. KBC mortgage customers will not receive their closure notification until at least September 2022.

Once you have received your Current Account closure notice, you will then have six months’ to switch or close your account. You will continue to be afforded all of the relevant legal and regulatory protections.

If your Mortgage transfers to Bank of Ireland, your Mortgage discount will continue to be honoured for as long as your Mortgage remains with Bank of Ireland. You will not be required to open a Bank of Ireland Current Account to avail of the discount. 

From the 1st of June 2022, if do you close your KBC Current Account your Mortgage Discount will be honoured by KBC Bank Ireland and by Bank of Ireland once your mortgage transfers. In the meantime, you should continue to adhere to the KBC conditions associated with the discount i.e. continue to have your salary mandated to your KBC Current Account.

There is no immediate impact on your Deposit and you do not need to take any action. Deposit Accounts are part of the Binding Agreement with Bank of Ireland and Current Accounts are not part of the Binding Agreement. Should a Binding Agreement with Bank of Ireland receive ministerial approval, your deposit account will transfer automatically to Bank of Ireland at a date in the future.

If you close your Current Account before your Deposit Account moves to Bank of Ireland you will need to contact us in writing to withdraw any funds from your Deposit Account as you cannot transfer funds from your Deposit Account via the KBC App once the Current Account is closed. 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.

There is no immediate impact on your credit card and you do not need to take any immediate action. Credit Cards are part of the Binding Agreement with Bank of Ireland and Current Accounts are not part of the Bind Agreement. Should a Binding Agreement with Bank of Ireland receive ministerial approval, your credit card will transfer automatically to Bank of Ireland at a date in the future and we will advise you in advance of the transfer of any action you may need to take. 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.

While no immediate impact is foreseen for your Overdraft with KBC it is important to note that irrespective of the outcome of the regulatory and ministerial approvals process for the Bank of Ireland transaction, it will be cancelled at some point in the future. Please be aware that KBC will commence a process of engaging with customers regarding the closure of Current Accounts from June 1st. If you have an overdraft linked to your Current Account,  this will need to be brought back to zero before your Current Account closes. Current Accounts and Overdrafts will be closed six months’ following receipt of your Account closure notice letters. If you wish to continue to have an Overdraft you will need to apply for this directly with your new Current Account provider once you have chosen them. You are not required to take any actions until you have been contacted by us.

Current Account and Overdraft closure notices will start to issue to customers from 1st June on a phased basis, over a number of months into early 2023 until all customers have been contacted. Once you have received your Current Account closure notice, you will then have six months’ to switch or close your account. If you feel that you are not in a position to clear your overdraft within this timeframe please contact us on 1800 939244 and we will endeavour to find a solution that meets your needs. 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.

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.

We previously indicated that should the Binding Agreement with Bank of Ireland receive ministerial approval, your Investment Fund would be automatically redeemed at a future date. On the 12th of April we announced the decision to formally wind down the operations of the bank and exit the Irish market irrespective of the outcome of the regulatory approvals process for the Bank of Ireland transaction. If ministerial approval for the Bank of Ireland transaction is received, we will write to you with confirmation of the automatic redemption date (providing at least 60 days’ notice).

If ministerial approval for the Bank of Ireland transaction is not received, we will write to you to advise of next steps. It is important to note that your Investment Fund will be automatically redeemed at a future date irrespective of  ministerial approval. 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.

For now, you do not need to take any action. Your Personal Retirement Savings Account (PRSA) is a long-term plan to help you set aside money for your retirement. Should a Binding Agreement with Bank of Ireland receive ministerial approval, you will be required to transfer your PRSA to another provider on a given date in the future and we will advise you in advance of the transfer of any action you may need to take. 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.

Business Current Accounts will also be closed and you will  receive six months’ notice for this type of account also. We will write to you individually about each account and provide a closure date for each. Please note that there may be different closure dates for your business and personal accounts. 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.

Once you have received your Current Account closure notice, you will then have six months’ to switch or close your account. You will continue to be afforded all of the relevant legal and regulatory protections. While we will start writing to customers in June of this year it will take a number of months to write to all customers. For example, KBC mortgage customers will not receive their Current Account closure notification until at least September 2022.   

If you feel you will struggle to open a new account you should not wait for this letter and start considering an alternative provider already. This will allow as much time as possible for you make alternative arrangement.

Please get in touch with us if you are having trouble opening an account elsewhere.

No unfortunately, this will not be possible once your account is closed.

If there is money left in your account at the date of closure, your account will still close. Funds that are in your bank account when closed will be transferred to a central KBC Account and held on your behalf. We will endeavour to make the withdrawal of your funds following the closure of your Current Account as easy as possible for you and will contact you with details of how to retrieve your funds.

Yes it is very important that you continue to meet all existing payments coming from your KBC Current Account. When choosing a new provider you should be conscious of these obligations and pick the best method of switching for you.

Customers should visit the Competition and Consumer Protection Commission's website for more information on switching (Switching your bank account - CCPC).

If you use the switching code your new bank will provide us with your new IBAN details to ensure that your payments are processed from your new Current Account. If you close your KBC Current Account and want to set up your KBC payments from your new Current Account with another provider you will need to set up a direct debit, you must complete a direct debit form and return the original signed form by post to KBC Bank.

There is no immediate impact on your KBC discount as a result of this announcement. Should a Binding Agreement with Bank of Ireland receive ministerial approval, your KBC Personal Loan will transfer to Bank of Ireland at a future date.

If your Personal Loan transfers to Bank of Ireland, your Personal Loan discount will continue to be honoured for as long as your Personal Loans remains with Bank of Ireland. You will not be required to open a Bank of Ireland Current Account to avail of the discount. 

From the 1st of June 2022, if do you close your KBC Current Account, your Personal Loan Discount will be honoured by KBC Bank Ireland and by Bank of Ireland once your Personal Loan transfers. In the meantime, you should continue to adhere to the KBC conditions associated with the discount.

You will be notified well in advance of any actual steps or changes that may be taken in respect of your Personal Loan.

There is no immediate impact on your Regular Saver Account /12 Month Fixed Term Deposit Account interest rate as a result of this announcement. Should a Binding Agreement with Bank of Ireland receive minsiterial approval, this Account will transfer to Bank of Ireland at a future date.

If your Regular Saver Account transfers to Bank of Ireland, your interest rate will not change at the time of migration. You will not be required to open a Bank of Ireland Current Account to continue to avail of the rate. This is a variable rate product and may be subject to change in the future. If this is the case, Bank of Ireland will issue notice to this effect in advance.

The 12 Month Fixed Term accounts will also retain their rate at the time of migration, and until they mature. At this point, customers will be able to choose from Bank of Ireland’s suite of Deposit products or move your Deposit to another provider.

From the 1st June 2022, KBC will commence a process  of engaging with customers regarding the closure of Current Accounts. As of that date, you will be able to close your KBC Current Account and your higher rate will be honoured by KBC Bank Ireland and by Bank of Ireland once your Deposit transfers.  In the meantime,  you should continue to adhere to the KBC conditions associated with the Extra Current Account i.e. lodge €2,000 into your Extra Current Account each month. You will be notified well in advance of any actual steps or changes that may be taken in respect of your Regular Saver Account/Fixed Term Deposit.

While no immediate impact is foreseen for your Overdraft, it is important to note that irrespective of the outcome of the regulatory and ministerial approvals process for the Bank of Ireland transaction it will be cancelled at some point in the future.

Please be aware that KBC will commence a process of engaging with customers regarding the closure of Current Accounts from June 1st. If you have an overdraft linked to your Current Account,  this will need to be brought back to zero before your Current Account closes. Current Accounts and Overdrafts will be closed six months’ following your Account closure notice letters. If you wish to continue to have an Overdraft you will need to apply for this directly with your new Current Account provider once you have chosen them. You are not required to take any actions until you have been contacted by us.
Current Account and overdraft closure notices will start to issue to customers from 1st June on a phased basis, over a number of months into early 2023 until all customers have been contacted. 

Once you have received your Current Account closure notice, you will then have six months’ to switch or close your 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.

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.

Unfortunately, we are no longer accepting applications for Personal Overdrafts.

You can still apply for an increase to your Overdraft and as per normal process each application will be reviewed on a case by case basis.

There is no impact on your Debit Card as a result of the announcement. If your Debit Card is due to expire you will receive a new card. We are committed to keeping customers updated if circumstances change.