KBC Savings & Deposits

Savings Download Booklet

Here's what you need to know

We've put together some useful tips and frequently asked questions for you.

What's happening?
Your KBC Savings and Deposit Account(s) will be moving to Bank of Ireland. The Legal Transfer of your Deposit completed on the 03rd February and we will continue to support you on the day to day servicing of your account until the 20th February after this Bank of Ireland will support you. In the meantime, we are here to help with any queries about your Savings and Deposit Account(s).
What to expect...
If your account is included in the transfer we have written to you providing notice of the transfer and outlining what this means for your account. We will continue to ensure you are provided with plenty of notice of any changes in line with all legal and regulatory protections. Your Savings and Deposit Account(s) will transfer automatically. Bank of Ireland will write to you with important information.
What you need to do...
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 Savings and Deposit account(s).

The Deposit Guarantee Scheme

The Deposit Guarantee Scheme (DGS) guarantees your eligible deposits up to €100,000 per financial institution. Following the transfer, if your total balance on deposit with Bank of Ireland exceeds €100,000 (including any funds held in a BOI current account), amounts above €100,000 will no longer be covered. If this applies to you, please contact us to discuss your options.

Example 1:
Customer has €50k in KBCI deposit account and €50k in Bank of Ireland deposit account. On transfer of the KBCI deposit to Bank of Ireland the whole €100k will be covered by the Deposit Guarantee Scheme

Example 2:
Customer has €60k in KBCI deposit account and €50k in Bank of Ireland deposit account. On transfer of the KBCI deposit to Bank of Ireland, only €100k will be covered by the Deposit Guarantee Scheme and €10k will not.

The following document outlines the basic details of the protection of eligible deposits in KBC Bank:
Deposit Guarantee Sheet

More information can be obtained at www.depositguarantee.ie

Savings Help Hub

What's changing?

Are you an existing customer? We've put together some useful information for you to help you prepare for the changes ahead.

Your Deposit Account


Important Info


Important Things to Know

You will earn the same amount of interest when your Savings and Deposit Account(s) transfers to Bank of Ireland.

Will I need to update my payment methods?

Bank of Ireland have written to you about how you can pay into your Savings and Deposit Account(s). If you currently fund your account by standing order, you will also need to cancel your standing order.

Will my Standing Order remain in place?

You will need to cancel your standing order. Bank of Ireland have contacted you directly about how you can pay into your Savings and Deposit Account(s).

Top FAQs


Will the interest earned on my Savings and Deposit Account(s) stay the same?

There will be no change to the amount of interest you will earn when your account transfers to Bank of Ireland.

I have a Notice Account. Will the notice period on my account stay the same?

Yes. There will be no change to the notice period on your account.

Will I get a 2023 deposit statement?

You will receive a closing statement from KBC which will include all activity on your Deposit Account since your last KBC statement and up to the Service Transfer Date.

What does this announcement mean for my Deposit Account?

Your KBC Savings and Deposit Account(s) will be moving to Bank of Ireland.

The Legal Transfer of your Deposit completed on the 03rd February and we will continue to support you on the day to day servicing of your account until the 20th February after this Bank of Ireland will support you.

I get a higher rate on my Regular Saver Account /12 Month Fixed Term Deposit Account because I have an Extra Current Account with KBC. What will happen to this if my  Regular Saver Account /12 Month Fixed Term Deposit Account is transferred to Bank of Ireland?

When your Regular Saver Account transfers to Bank of Ireland, your Interest rate will not change. 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. As you also have a current account with KBC you should be aware you will be required to switch or close your Current Account.

When my deposit transfers to Bank of Ireland, will this have an effect on the Deposit Guarantee Scheme eligibility?

Any obligations in respect of the Deposit Guarantee Scheme (“DGS”) have now transferred to Bank of Ireland. The DGS guarantees your eligible deposits up to €100,000 per financial institution. On transfer to Bank of Ireland, should your total balance on deposit with Bank of Ireland exceed €100,000 (including any funds held in a Bank of Ireland Current Account), the amounts above €100,000 will not be covered by the DGS.

I have a Fixed Term Account what will happen when it transfers to Bank of Ireland?

Your Fixed Term Account will transfer with the same maturity date and the amount of interest you will earn will remain the same until that maturity date.

Can I continue to withdraw funds from my Demand Account, Regular Saver or Extra Regular Saver?

If you have a Demand Account, Regular Saver, Extra Regular Saver and/or Notice Account, you can continue to withdraw  your funds in line with the terms and conditions of your account. To allow for the transfer of deposit accounts you will not be able to make a transfer from your deposit account from 17th February. You can contact BoI from the 20th February with regards to any future withdrawals. 

Will my zero balance account transfer to BoI?

Yes, your zero balance account will transfer to BOI. if you withdraw all funds from your deposit account you will still need to send us a signed instruction to close the account, otherwise your deposit account (with a zero balance) will transfer to Bank Of Ireland.

Can I continue to fund my BOI Savings and Deposits from my KBC Current Account?

For now you can continue to fund your accounts as normal. We will send you a letter giving you at least 6 months’ notice of your Current Account closing and providing you with more details about what’s happening to your Current Account. 

Can my broker contact Bank of Ireland?

Where your Deposit Account was introduced via a Broker, please note that the Broker relationship did not transfer to Bank of Ireland. Therefore, your Broker will no longer be able to provide instructions on your behalf.

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Important Information about your KBC Deposit Account

  • You can save between €100 and €1,000 per month. Fund your account by Standing Order or Credit Transfers.

    The combined value of all lodgements must not be less than €100 or more than €1,000 per calendar month.

    Once the balance exceeds €50,000 (including interest credited to the account), the full balance will earn interest at the then prevailing Standard Demand Deposit Account interest rate. Only available to Personal Customers.

    Get instant access on the App, withdraw funds on demand to your KBC Current Account.

  • Smart Access Demand

    Get instant access to your money through your App with your KBC Current Account.


    Standard Demand Account

    Get instant access to your money through your App with your KBC Current Account.

  • Please be aware that if we receive ministerial approval and your fixed term account matures after the transfer to Bank of Ireland, your account will transfer with the same maturity date and the amount of interest you will earn will remain the same until that maturity date.

    Should your account transfer we will write to you with further updates. When considering your options please be aware of the Deposit Guarantee Scheme limits if you already have eligible deposits with Bank of Ireland.
    For further information regarding the Deposit Guarantee Scheme or for information about accounts maturing prior to transferring to Bank of Ireland, please see our Frequently Asked Questions above.


    The Standard Fixed Rate Deposit Account does not permit any access to funds prior to the maturity date. In exceptional circumstances, KBC Bank Ireland may at its sole discretion and subject to reasonable conditions permit a withdrawal from an account before the maturity date.
    Unless we receive instruction(s) from you on or before the maturity date, the full balance in the account will be reinvested in a similar fixed term product at the prevailing interest rate for that product on that date. If on the maturity date there is no similar fixed term product available, the full balance in the account will be reinvested in our Standard Demand Deposit account earning the then prevailing Standard Demand Deposit Account interest rate.
    If you are permitted to make an exceptional withdrawal from the account before the end of the term, the amount of interest earned will be less than if the deposit had been left intact for the full duration of the term.