Important Customer Notice - Deposit 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.

New Customers

You should be aware that if you decide to open a KBC Deposit Account, should a Binding Agreement with Bank Of Ireland receive regulatory approval, your account will be transferred to Bank of Ireland.
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.  

Existing Customers

Demand Deposit Account


The account you have chosen provides you with access to your funds when you need it. While no immediate impact is foreseen for your KBC Demand Deposit Account, should a Binding Agreement with Bank Of Ireland receive regulatory approval, your account will be transferred to Bank of Ireland.

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.


Fixed Term Deposit Account

The account you wish to open means you do not have access to your funds until the end of the term chosen. While no immediate impact is foreseen for your KBC Fixed Term Deposit Account, should a Binding Agreement with Bank Of Ireland receive regulatory approval,  your account will be transferred to Bank of Ireland.
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.  

The full term of your Fixed Term Deposit account will be honoured by KBC or the alternative provider.
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've put together some frequently asked questions for you:

Deposit FAQs

  • We are open for business as usual for Current Account, Mortgages, Deposits, Personal Loans, Life, Home and Car Insurance and Personal Credit Cards.

    We have paused new applications for Personal Retirement Savings Accounts (PRSAs) for non-KBC customers and will pause applications from KBC customers from the 15th November 2021. We will pause applications for Investments and Personal Overdrafts from 07th December 2021 .

    Customers are at all times guaranteed all the relevant legal and regulatory protections including the full benefits of the Customer Protection Code. 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 immediate impact on your discount as a result of this announcement. Should a Binding Agreement with Bank Of Ireland receive regulatory approval, your Deposit Account will transfer to Bank of Ireland at a future date. We will communicate to you well in advance of any actual steps or changes that may be taken in respect of your products.

    Should your Deposit Account transfer 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.  

    In the meantime in advance of any transfer, you should continue to adhere to the conditions associated with discount i.e. Lodge €2,000 into your Extra Current Account each month.