Important Customer Notice

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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 Current 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.

Current Accounts 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?
KBC Current Accounts are not moving to Bank of Ireland. This means that your KBC Current Account will be closed at a date in the future. To support you in finding a new provider KBC have stopped charging quarterly fees for maintaining the account on all Current Accounts since June 2022. This is to reduce the cost you may incur by potentially having two Current Accounts open at once.
What to expect...
We will send you a letter giving you at least 6 months’ notice of your account closing and providing you with more details about what’s happening to your Current Account. Letters to customers will issue on a phased basis beginning in June 2022 and continuing into early 2023. You do not need to take any action until you receive this notice from us.
What you need to do...
To ensure you continue to have access to a current account you will need to open a Current Account with a new provider or switch your current account to a new provider if you do not already have an alternative Current Account that you can use. When you are ready to take action, we are here to help and are committed to supporting you. Please give us a call on 1800 93 92 44 or you can email us at customerservices@kbc.ie

Guide to Next Steps


Download now

Current Account Help Hub

What's changing?

Are you an existing customer? We've put together some useful information for you. You can use the buttons below to find the information that you need.

Important...


Important Information about your KBC Current Account

KBC Current Accounts are not moving to Bank of Ireland. This means that your KBC Current Account will be closed at a date in the future. If you do not already have an alternative current account, you will need to switch or open a current account with a new provider of your choice to ensure you continue to have access to a current 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.

Top FAQs


We've put together the top FAQs for existing customers:

I've received my letter, what do I need to do? 

This letter provides you with 6 months’ notice of your account closing. To ensure you continue to have access to a current account you will need to open a current account with a new provider or switch your KBC Current Account to a new provider if you do not already have an alternative current account that you can use. You can find out how to do this here.

I haven't received a letter yet, what should I do? 

We will be issuing out letters on a phased basis. If you haven't received your letter yet you don't need to take any action but you can find out about next steps in our Guide to Next Steps (76kb.pdf)

What if I haven't been able to open a new Current Account in time?

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. We began 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 who hold a KBC Current Account will not receive their Current Account closure notification until at least September 2022. 

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

My Account is closed and I do not have an account elsewhere, can my account be re-opened after closure?

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

What if there is still money in my account after closure, how can I retrieve my funds?

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.

Benefits


Do you have a benefit or higher rate linked to your Current Account? 

Mortgage

If you currently receive a mortgage discount with your KBC Current Account, you will continue to do so when you transfer to Bank of Ireland. You will not be required to open a Bank of Ireland Current Account to avail of this discount. You can close your KBC Current Account and your Mortgage Discount will be honoured by KBC Bank Ireland and by Bank of Ireland once your mortgage transfers.

Deposits

If you currently receive a higher rate with your KBC Current Account, you will continue to do so when you transfer to Bank of Ireland. You will not be required to open a Bank of Ireland Current Account to avail of this higher rate. You can 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.

Loan

If you currently receive a personal loan discount with your KBC Current Account, you will continue to do so when you transfer to Bank of Ireland. You will not be required to open a Bank of Ireland Current Account to avail of this discount. You can close your KBC Current Account and your personal Loan Discount will be honoured by KBC Bank Ireland and by Bank of Ireland once your mortgage transfers.

You may also have questions about other products linked to your KBC Accounts you can find more information here.

Overdrafts


What is happening?
As KBC Current Accounts are not moving to Bank of Ireland, they will be closing at a future date. Personal Overdrafts will, therefore, be cancelled when your Current Account closes. You will be given 6 months’ notice in line with your Current Account notice.

Before your overdraft is cancelled you will need to clear the overdraft and bring your account balance to zero. If you have an existing overdraft this will not automatically transfer to your new provider and you will have to make a new application with your new provider to have an overdraft on your new account. When deciding your new Current Account provider it may be useful to discuss this with them in advance.

If you are an existing customer you will shortly receive a booklet which clearly outlines what is happening to all KBC products in detail. We will write to you again with more information and next steps.


In the meantime, we’re here to help with any queries you may have about clearing your Personal Overdraft, please get in touch with our Customer Service Team.

Worried about repaying your overdraft?
If you are currently having difficulty repaying your overdraft, please get in touch with us to talk about your options and how we can help you. We can work with you to find a repayment solution that suits your personal situation.

Moving your Current Account


Steps to take when the time comes to move.

  • 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 on the CCPC website or Bonkers.ie.

    If you have an existing overdraft this will not automatically transfer to your new provider and you will have to make a new application with your new provider to have an overdraft on your new account.

    If you would like to open your account with a new provider by using the switching process you will find more information below.

    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 6 months’ to move or close your account.

  • 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 you’ve changed banks so your wages and/or social protection payments go to the right account.

    To do this you will need to contact your creditors and give them your new IBAN.

    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.

    Find our more about managing your Standing Orders and Direct Debits here.

    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 provider. Your new provider can provide you with the information you need 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 standing orders and direct debits on your KBC App.

  • 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 the transfer via the KBC App, simply go to 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 1 -2 working days for your money to arrive in your other account. You can find further information on our transfer limits here.

    Tip: Leave a balance in your account until you are sure all payments have been moved.

    Tip: Once you are ready to close your account make sure your account balance is zero so that your account can 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, your Debit Card will stop working and you should let all cardholders know this. 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 close your account.

    1. Don’t do anything, your account will close automatically at the end of the notice period. Please ensure that the 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 the account where you want your balance transferred to (should it not be zero) or complete and return the following form to us: Current Account Closure Form.

    Some things to note about closing:
    Once closed, your account will not appear in your KBC App or Online Banking.

    Tip: It’s important that you keep a copy of your statements after your account is closed. These can be accessed through your KBC App by clicking on the e-statements tab in your Current Account. You should download these documents before closing your accounts. If you need a copy of these documents after your account is closed and you no longer have access to the KBC App please get in touch with us.


    Switching your Current Account
    You could also avail of the switching process with the help of the new Current Account provider of your choice. If you want to complete the switching process, you should contact the new provider of your choice for a switching pack which provides all the information involved in switching. You can also find all the information you need to know on www.ccpc.ie

    Tip: You should pick a date to switch where there is very little account activity and should not pick a date when direct debits are due or when salary or social payments are expected to be paid.

     

     

Block of Text Under Moving your Account

To ensure that your day to day banking needs are not interrupted and that you have a current account which you can continue to use it is important to ensure that you have a new Current Account up and running before the end of your notice period. If you are having any issues opening a new Current Account elsewhere please contact us and we may be able to provide you with more time.

Is your Current Account linked to other KBC Accounts?
If your Current Account is linked to another KBC account e.g., an investment fund, it may not be advisable to close your account before we provide you with formal notice. Please get in touch with us before closing your Current Account.

Get in touch

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We’re here to help. Phone us Monday to Friday from 8am to 8pm. Saturday and Sunday from 9am to 5pm.

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Important Information for the day to day management of your Account

Terms and conditions apply. Other fees and charges may apply for ATM Cash Withdrawals and using a debit card for purchases in foreign currency. If you are a Basic Current Account Customer our Basic Terms and Conditions apply.


Please note: KBC Bank Ireland does not offer cash facilities at our hub locations and so are unable to cater for cash lodgements or withdrawals in our premises.

  • The features of your KBC Current Account will continue to apply until you close your account with us.

    (Including: Standard Current Account; Extra Current Account; Teen Current Account; Current Account Plus; Student Current Account; Basic Bank Account.)

    Free contactless payments when using a Debit Card for purchases in Euro.

    Free online & mobile banking transactions.

    Free Direct Debit & Standing Order Processing.

    No quarterly fees for maintaining the account.

    Free cashback - CashBack is at the retailers discretion and a purchase is required. A minimum amount may be necessary.

    Paperless eStatement and paper statement options available

    Full suite of digital wallets: Apple Pay™, Google Pay™, Fitbit Pay™, Garmin Pay™ and wena Pay™

  • Current Account Closure form 46kb Download PDF
    Basic Current Account: Fee Information Document 260kb Download PDF
    Debit Card Refund Request Form 44kb Download PDF
    Current Account Plus: Fee Information Document 260kb Download PDF
    Extra Current Account: Fee Information Document 244kb Download PDF
    Standard Current Account: Fee Information Document 260kb Download PDF
    Student Current Account: Fee Information Document 260kb Download PDF
    Teen Current Account: Fee Information Document 259kb Download PDF
    Deposit Guarantee Scheme Leaflet 56kb Download PDF
    Current Account Fees and Charges 155kb Download PDF
    Personal Banking Terms and Conditions 252kb Download PDF
    SEPA Direct Debit Refund Form 189kb Download PDF
    Standing Order Form 39kb Download PDF
    Personal Customers - Self Certification under CRS and FATCA 37kb Download PDF


    Check out our Glossary of Terms here.