Important Customer Notice Business Banking

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Important Customer Notice

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

(including Client Demand Accounts)
Please note: We are no longer accepting applications for this product. If you made an application on or before the 15th July 2022 it will continue to be processed as normal.

Business Deposits 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 Business Deposit Account and/or your Client Demand Deposit Account has transferred to Bank of Ireland. The Legal Transfer of your Business Deposit Account and/or your Client Demand Deposit Account completed on the 03rd February and the day to day servicing of your account has now transferred to Bank of Ireland.
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 Business Deposit Account and/or your Client Demand Deposit Account will transfer automatically. Bank of Ireland will write to you with important information.
What you need to do...
Please read all communications carefully to make sure you don’t miss any important information about your Business Deposit Account and/or your Client Demand Deposit Account.

DGS Block - Business

The Deposit Guarantee Scheme

The DGS guarantees your eligible deposits up to €100,000 per financial institution. As your deposit has now transferred 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.


More information can be obtained at www.depositguarantee.ie

 

Business Deposits Help Hub

What is 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

We've put together some useful information for you.

Your account has automatically transferred to Bank of Ireland.

The Deposit Guarantee Scheme (DGS) guarantees your eligible deposits up to the €100,000 per financial institution.

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. As your deposit has now transferred 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.

Top FAQs

Check out our FAQs:

What does this announcement mean for my Business Deposit Account?

The Legal Transfer of your Business Deposit Account and/or your Client Demand Deposit Account completed on the 03rd February.  Bank of Ireland will now support you in the day to day management of your account. You can contact Bank of Ireland’s KBC Transition Support team on 0818 210 290, 8am – 8pm Monday – Friday (excluding bank holidays) or +353 1 250 0305 (if calling from outside Ireland). You can find more information here Deposits FAQ's KBC - Bank of Ireland

 

Get in touch - Business

Hi!

We’re here to help. Phone us Monday – Friday from 8am – 6pm.

Business Support Team
Special Assistance Team

Need help or support?

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Important Information about your KBC Deposit Account

  • Demand Deposit Account

    Your funds are available when you need them. Interest is paid twice yearly.

    Fixed Term 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 exceptionsal 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.