Important Customer Notice - Current Accounts - Updated 22nd October 2021

KBC Bank Ireland would like to draw your attention to some important information

You may have seen the news about a recent announcement by KBC Bank Ireland in the media – click here for the announcement.

Existing Customers

While no immediate impact is foreseen for your KBC Current Account, should a Binding Agreement with Bank Of Ireland receive regulatory approval, you will need to switch or close your account at a future date.

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.

Customers can switch banking provider should they wish to do so. You can visit the Competition and Consumer Protection Commission's website for more information on switching (https://www.ccpc.ie/).  

New Customers

We are accepting new applications for Current Accounts. You should be aware that if you decide to open a Current Account, should a Binding Agreement with Bank Of Ireland receive regulatory approval, you will need to switch or close your account at a future date. You will continue to be afforded all of the relevant legal and regulatory protections.

Overdrafts

If you choose to open a Current Account with KBC and would like to apply for an overdraft, you should be aware that new applications for Personal Overdrafts  will be paused from 07th December 2021 and we will provide customers with 30 days written notice of this change. If you apply for an overdraft before the 07th December 2021  your application will be processed as normal should you still wish to proceed.

We've put together some frequently asked questions for you:

Current Account FAQs

  • While no immediate impact is foreseen for your KBC Current Account, should a Binding Agreement with Bank Of Ireland receive regulatory approval, you will need to switch or close your account at a future date.

    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 (for example should you be required to switch or close your account we would provide you with at least 60 days’ notice.).

    Customers can switch banking provider should they wish to do so. You can visit the Competition and Consumer Protection Commission's website for more information on switching (https://www.ccpc.ie/).  
  • There is no impact on your KBCI fees as a result of this announcement. Should a Binding Agreement with Bank Of Ireland receive regulatory approval, you will need to switch or close your account at a future date.

    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.
  • While no immediate impact is foreseen for your Overdraft, should a Binding Agreement with Bank Of Ireland receive regulatory approval, it will be cancelled at some point in the future.

    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.
  • New applications for Personal Overdrafts from existing KBC customers will be paused from 07th December 2021 and we will provide customers with at least 30 days written notice of this change. If you have applied for an Overdraft before the 07th December 2021 your application will be processed as normal should you still wish to proceed.
  • 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.