KBC Savings & Deposits

Important Things to Know

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

If your account is a KBC Regular Saver Account or Extra Regular Saver Account, you will need to set up a direct debit with Bank of Ireland at a date in the future. You will receive further information from Bank of Ireland on how to do this and by when. If you currently fund your account by standing order, you will also need to cancel your standing order. For now you can continue to fund your account as normal.

Are you an existing customer and need some additional support check out our FAQs:

I have a Fixed Term Account  and I do not want it to transfer to Bank of Ireland. What can I do?

If you do not accept Bank of Ireland Terms and Conditions, you can send us a signed written instruction to close your fixed term deposit account noting that you do not accept the proposed Terms and  Conditions.

I have a 35 Day Notice account and I do not want it to transfer to Bank of Ireland.

If closing your account

• From 12 January 2023 if you wish to close your Deposit Account we will be waiving the 35 day notice period.
• The notice period will continue to apply before 12 January 2023.
• If you close your Deposit Account prior to the transfer, your Deposit Account will not transfer to Bank of Ireland.

Withdrawing funds from your account

• The standard 35 day notice period requirement will remain where you are withdrawing funds but not closing your Deposit Account.
• If you do not close your Deposit Account, your Deposit Account will transfer to Bank of Ireland and the full 35 day notice period will apply.
• If your 35 day notice period expires after your Deposit Account transfers to Bank of Ireland, Bank of Ireland will complete your withdrawal at the end of the notice period.

I have received a letter to say that you are going to close my Deposit account in 30/60 days’ time because I have never funded it. Why is this happening?

In line with our T&C’s, we are permitted to close your Deposit account if it has not been funded or used for some time as per the clause noted in your letter. If you wish to keep your deposit account open, you may do so by making a lodgement to it before the date noted on your letter. If you make a lodgement before this date we will not close it, however, your account will transfer to Bank of Ireland (with the anticipated date of transfer being in early 2023).

If you do not make a lodgement to your account before the date noted on your letter we will close it.

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

There will be no change on the amount of interest you will earn on your Regular Saver Account /12 Month Fixed Term Deposit Account as a result of this announcement. This Account will transfer to Bank of Ireland at a future date.

If your Regular Saver Account transfers to Bank of Ireland, your interest rate will not change at the time of migration. 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 or move your Deposit to another provider.

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. We will write to you with more information and next steps.

For more information on your Current Account click here Important Information - Current Accounts - KBC

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 my Standing Order remain in place?

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

How do I set up and delete a Standing Order or Direct Debit?

For information on how to set up and delete a Standing Order or Direct Debit click here.

I have an Extra Regular Saver Account. Will I earn the same amount of interest?

There will be no change to the amount of interest you will earn when your account transfers to Bank of Ireland. This is a variable rate account and may be subject to change in the future. Bank of Ireland will contact you directly providing notice ahead of any changes. You will not be required to open a Bank of Ireland Current Account to continue to avail of the higher rate. You can close your KBC Current Account and your rate will be honoured by KBC Bank Ireland and by Bank of Ireland once your account transfers.

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. If you have a Fixed Term Account you can withdraw funds at maturity in line with the terms and conditions of your account.