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

On the 30th August KBC Bank Ireland announced it will sell substantially all of its non-performing mortgage loan portfolio and a small number of non-mortgage non-performing loans. On the 4th February 2022 this loan sale was completed. For more information please click here.

On the 22nd October 2021 KBC Bank Ireland entered into a legally Binding Agreement with Bank of Ireland.  This means that an agreement has been reached where Bank Of Ireland would acquire substantially all of KBC Bank Ireland’s performing loan assets (including performing Mortgages, Commercial and Consumer Loans), Deposits and a small number of non-performing Mortgages.  On the 24th May this Binding Agreement received approval from the Competition and Consumer Protection Commission. The Binding Agreement is still subject to ministerial approval. Customers will shortly receive an update from us followed by a booklet which clearly outlines what is happening to all KBC products.

On the 12th of April 2022 KBC Bank Ireland announced that it will commence the process of engaging with customers regarding the closure of their current accounts from June 1st. Customers are not required to take any actions until they have been contacted by the bank. Formal closure notices will issue to customers from 1st June on a phased basis, a process that will continue until all customers have been contacted. Upon receipt of the closure notices, customers will have 6 months’ to close their account. This follows the decision made by the KBC Bank Ireland Board to formally wind down the operations of the bank and exit the Irish market irrespective of  whether the Bank of Ireland transaction receives approval. For more information click here.

A message for vulnerable customers
We apologise in advance for any inconvenience this may cause and we are ready to help you. Should you have any queries at this time, please get in touch with us. We have a dedicated Care Team you can call for support. Call us on 1800 804 472 and our team will be happy to help you with all your banking needs.

Guide to Next Steps

We have put together a Guide (416kb, pdf) to help you understand and prepare for the changes ahead.

Inside you’ll find more information about each of our products, the impact on you and any actions you may need to take. This guide is a first step to give you information and we hope you find it helpful in understanding how the changes will impact you.

Each customer will receive a printed copy of the guide over the coming weeks. You should read this guide carefully to understand any potential changes to your products and you may want to keep the guide somewhere safe in case you need to refer to it for useful information in the future.

Update on new applications

KBCI will no longer be accepting new applications for all products following a 30 day notice period. Unless you wish to make a product application or currently have an application in progress there is no action for you to take. We will continue to support existing customers with their day to day banking needs.

Update on changes for existing customers making an application, new applications and applications in progress.
We are now providing notice that after 15 July 2022 we will no longer be accepting new applications for all KBCI products including Current Accounts, Mortgages, Personal Deposits, Personal Loans, Home, Car and Life Insurance and Personal Credit Cards. Applications for Investments, Personal Retirement Savings Accounts and Personal Overdrafts had previously been paused and will also no longer be accepted from the above date. Please refer to the table below for more information.

I have an application in progress or plan to make a new application – what does this mean for me?
If you have a current application in progress or plan to make an application we will work with you to ensure that the application is processed as normal, should you wish to continue.

We have outlined below when applications will need to be received and/or completed and product updates for existing customers if applicable.

  •  
    We will accept new applications until 15 July 2022.

    Upon receipt of your application, we may require additional documentation to assess the    application.

    If this is the case, you will have 30 days from the date additional documents are requested to return the required documentation to us.

    Should the application be approved or if you already have an Approval in Principle (AIP) and you wish to proceed to loan offer stage you must do so before the expiry date specified in your AIP. You must satisfy any conditions outlined in the AIP.

    If you are at Loan Offer stage in advance of the transfer date to Bank of Ireland, your Loan Offer will transfer to Bank of Ireland on the same terms and conditions as set out in your KBCI Letter of Offer. 

    If you are drawing down your mortgage in stages, the process will continue as agreed in your loan offer terms and conditions. Once your loan offer transfers to Bank of Ireland they will then support you in your mortgage journey. The transfer to Bank of Ireland is subject to ministerial approval.

    Update on Current Account Mortgage Discounts 
    Existing mortgage customers who wish to avail of the Current Account discount must apply for a Current Account by 15 July 2022.  

    Customers who drawdown their Mortgage by 15 July 2022 must open a KBC Current Account to avail of the discount.

    We will no longer be accepting applications for KBC Current Accounts after 15 July 2022. 
    KBCI will ensure that you are given the opportunity to request the discount rate where the mortgage application is still in progress after 15 July 2022 (in this case a KBC Current Account will not be opened).
     
  •  
    We will accept new applications until 15 July 2022.

    Upon receipt of your application, we may require additional documentation to assess the application. If this is the case, you will have 30 days from the date additional documents are requested to return the required documentation to us.

    Should you wish to continue with your application, and your application is approved, your Credit Card will transfer to Bank of Ireland subject to  ministerial approval. 

    If you have an existing KBC Credit Card, after 15 July 2022 existing customers can no longer apply for an increase to their credit limit. However, you can continue to use your Credit Card and request a decrease to your limit at any time.
     
  •  
    We will accept new applications until 15 July 2022.

    Upon receipt of your application, we may require additional documentation to assess the application. If this is the case, you will have 30 days from the date additional documents are requested to return the required documentation to us.

    We must have received your signed credit agreement within 30 days of issuing to complete the application.

    Should you wish to continue with your application, and your Personal Loan is drawn down, your account will transfer to Bank of Ireland subject to ministerial approval.   

    Update on Personal Loan Discounts 
    Customers who drawdown their Personal Loan by 15 July 2022 must open a KBC Current Account to avail of the discount.

    We will no longer be accepting applications for KBC Current Accounts after 15 July 2022. 

    KBCI will ensure that you are given the opportunity to request the discount rate where the personal loan application is still in progress after 15 July 2022 (in this case a KBC Current Account will not be opened).
     
  •  
    We will continue to accept new applications for Home, Car and Life Insurance until 15 July 2022.

    All Home and Car Insurance new business quotations received by you up until 15 July 2022 will remain valid for a period of 30 days from the date you received it.

    Any Life Insurance applications made up until 15 July 2022 need to be placed on cover by 15 September 2022. 

    After 15 July 2022, we will be unable to accept new applications for Home, Car or Life Insurance. 

    From 15 July 2022 the following KBC Home Insurance offers will no longer be available.
    - 20% off the cost of the first year’s premium. 
    - 25% off the first year's Home Insurance premium with a KBC Extra Current Account/KBC Mortgage.

    Important note for customers who already have a Home/Car insurance policy:  
    Your existing Home/Car insurance policy is underwritten by Zurich Insurance plc (“Zurich Insurance”) and there will be no change to this.  You do not need to apply for a new policy. KBCI will be in correspondence with you further on this.
     
  •  
    We will accept new applications until 15 July 2022.

    If your application is in progress, you should provide all the required documentation by 29 July 2022 for your application to proceed. Should you wish to continue with your application and your account is opened you should be aware that your Current Accounts will not move to Bank of Ireland. Current Accounts will need to be closed by KBCI at a given date in the future and you will be asked to move or switch them to a provider of your choice at a future date, we will give you 6 months’ notice of this. This will happen even if the Binding Agreement with Bank of Ireland does not receive ministerial approval. 

    See Overdraft section below.
     
  •  
    We will accept new applications until 15 July 2022.

    If your application is in progress, you should provide all the required documentation by 29 July 2022 for your application to proceed.

    Should you wish to continue with your application and the product is subsequently opened your account will transfer to Bank of Ireland subject to ministerial approval. 

    Update on Extra Deposit Account rates
    Should you wish to apply for an Extra Deposit Account you must hold an Extra Current Account or be in the process of applying for an Extra Current Account (see Current Account section above for more information on new Current Account applications). 

    If your application for both the Extra Deposit and Extra Current Accounts are in progress but not yet completed as of 15 July 2022 we will facilitate the opening of the Extra Deposit Account but a new Extra Current Account will not need to be opened. 

     
  •  
    We had previously written to you to let you know we were pausing new applications for Investments, Personal Retirement Savings Accounts and Personal Overdrafts. We can now confirm that we will no longer be accepting applications for these products from 15 July 2022.

    If you have an existing KBC Personal Overdraft, from 15 July 2022 existing customers can no longer apply for an increase to Overdraft limits. However, you can continue to avail of this Overdraft and request a decrease to your limit at any time. 
     
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What do you need to know right now?

We would like to reassure customers that you do not need to take any action, our Hubs, Contact Centre and Digital Channels are here to help should you have any questions. Should these circumstances change we will write to you to let you know. We will ensure you are provided with plenty of notice of any changes in line with all legal and regulatory protections.

If you have any specific questions, you should contact us on freephone 1800 93 92 44. We understand that some customers may need additional help to understand this information or what the future impact may be to them. You may require this information in a different format or a recent life event has changed your circumstances. If you need extra support we are here to help on 1800 804 472.

We're here to help...

Frequently Asked Questions

We understand that the announcement has brought up many questions for existing and new customers. We are continuously reviewing those queries based on customer feedback and will keep kbc.ie up to date with new questions and responses.

We have grouped these frequently asked questions into sections so you can find the information most relevant to you.  

General FAQs

 


For general updates about the announcement check our our general FAQs below.

 

Product FAQs

 


Are you an existing customer and have questions about a specific product you have with us we've put together some FAQs for you.

New Customer FAQs
 


If you are a new customer who is thinking about opening an account or taking out a product with us check out the FAQs below.

Customers in financial difficulty FAQs


If you are a customer who is in financial difficulty please check out our FAQs below. 


 

General Queries

  • On the 22nd October  2021 KBC Bank Ireland entered into a legally Binding Agreement with Bank of Ireland. On the 24th May 2022 this Binding Agreement received approval from the Competition and Consumer Protection Commission. The Binding Agreement is still subject to ministerial approval. Customers will shortly receive an update from us followed by a booklet which clearly outlines what is happening to all KBC products. We would like to reassure you that we will continue to support you with your day to day banking needs through our Hubs, Contact Centre and Digital Channels.

    On the 29th of April 2022 KBC Bank Ireland announced that it will commence the process of engaging with customers from June 1st regarding the closure of their current accounts. Customers are not required to take any actions until they have been contacted by the bank. Formal closure notices will issue to customers from 1st June on a phased basis, a process that will continue until all customers have been contacted. Upon receipt of the closure notices, customers will have 6 months’ notice to close their account. This follows the decision made by the KBC Bank Ireland Board to formally wind down the operations of the bank and exit the Irish market irrespective of  whether the Bank of Ireland transaction receives approval.

    On the 31st of May 2022, KBC Bank Ireland announced that from 15th July 2022, it will no longer be accepting new applications for all products including Current Accounts, Mortgages, Personal Deposits, Personal Loans, Home, Car and Life Insurance and Personal Credit Cards for new and existing customers. Applications for Investments, Personal Retirement Savings Accounts and Personal Overdrafts had previously been paused and will also no longer be accepted from the above date.

  • We will keep kbc.ie up to date with information for our customers..
  • You can find more information on how to make a complaint here - Make a complaint - KBC
  • On the 24th May 2022 the Binding Agreement with Bank of Ireland received approval from the Competition and Consumer Protection Commission. The Binding Agreement is still subject to ministerial approval. Customers will shortly receive an update from us followed by a booklet which clearly outlines what is happening to all KBC products. We would like to reassure you that we will continue to support you with your day to day banking needs through our Hubs, Contact Centre and Digital Channels.

    We are now providing notice that after 15th July 2022 new applications for all products including Current Accounts, Mortgages, Personal Deposits, Personal Loans, Home, Car and Life Insurance and Personal Credit Cards for new and existing customers will no longer be accepted. Applications for Investments, Personal Retirement Savings Accounts and Personal Overdrafts had previously been paused and will also no longer be accepted from the above date.
  • Fraudsters may attempt to exploit the situation by claiming to be KBC and that you need to register your details, or re-register your information. If you experience any suspicious activity - text, email or phone calls - please call our customer service team. Be aware of fraudulent callers pretending to be from KBC and calling from numbers that may look legitimate.

    KBC will NEVER request sensitive information like Passcodes or Online Banking details over the Phone, by Email or Text. If you receive such a call, hang up and call 1800 93 92 44 for support.

    You can find out more about Fraud Prevention here - Fraud Prevention - KBC.
    • There is no immediate impact on our organisational set up. Our Headquarters, Hubs, Contact Centre and Digital Channels remain open. We are committed to keeping you informed if circumstances change and will give plenty of notice of any changes in line with all legal and regulatory protections.

New Customers

  • We are now providing notice that after 15th July 2022 new applications for all products including Current Accounts, Mortgages, Personal Deposits, Personal Loans, Home, Car and Life Insurance and Personal Credit Cards for new and existing customers will no longer be accepted. Applications for Investments, Personal Retirement Savings Accounts and Personal Overdrafts had previously been paused and will also no longer be accepted from the above date.

    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/). 
  • We are no longer accepting applications for new Personal Overdrafts.
  • We are no longer accepting applications for Personal Retirement Savings Accounts (PRSAs).

    KBC Insurance NV trading as KBC Life and Pensions is authorised by the National Bank of Belgium in Belgium and is regulated by the Central Bank of Ireland for conduct of business rules. KBC Bank Ireland Plc is tied to KBC Life and Pensions for the distribution of PRSA products to personal customers in the Republic of Ireland. This means that KBC Life and Pensions products are distributed through the nationwide KBC Hub network, by telephone as well as through KBC’s mobile banking platform.

    • Following a 30 day notice period we have now paused applications for Investments Funds.

      KBC Bank Ireland plc is a distributor of funds managed by KBC Fund Management Ltd and KBC Asset Management NV. KBC Bank Ireland plc and KBC Fund Management Ltd are regulated by the Central Bank of Ireland. KBC Asset Management NV is authorised in Belgium and regulated by the Belgian Financial Services and Markets Authority (FSMA).

  • We will accept new applications until 15th July 2022.

    Upon receipt of your application, we may require additional documentation to assess the application. If this is the case, you will have 30 days from the date additional documents are requested to return the required documentation to us.

    Should the application be approved or if you have an Approval in Principle (AIP) and you wish to proceed to loan offer stage you must do so before the expiry date specified in your AIP. You must satisfy any conditions outlined in the AIP.

    If you are at Loan Offer stage in advance of the transfer date to Bank of Ireland, your Loan Offer will transfer to Bank of Ireland on the same terms and conditions as set out in your KBCI Letter of Offer.
    If you are drawing down your mortgage in stages, the process will continue as agreed in your loan offer terms and conditions. Once your loan offer transfers to Bank of Ireland they will then support you in your mortgage journey. The transfer to Bank of Ireland is subject to ministerial approval.

    Should a Binding Agreement with Bank of Ireland receive ministerial approval, your Mortgage will transfer to Bank of Ireland at a future date. If you apply for a Mortgage with KBC you will continue to be afforded all the relevant legal and regulatory protections.

  • If you have an Approval in Principle (AIP) and you wish to proceed to loan offer stage you must do so before the expiry date specified in your AIP. You must satisfy any conditions outlined in the AIP.

    An AIP enables you to determine how much money you can borrow when looking for a home but you should remember it is not a formal Loan Offer. Therefore, you should not rely on the AIP to enter into a binding contract when buying your home (including at an auction).

  • If you are at Loan Offer stage in advance of the transfer date to Bank of Ireland, your Loan Offer will transfer to Bank of Ireland on the same terms and conditions as set out in your KBCI Letter of Offer.

    If you are drawing down your mortgage in stages, the process will continue as agreed in your loan offer terms and conditions. Once your loan offer transfers to Bank of Ireland they will then support you in your mortgage journey. The transfer to Bank of Ireland is subject to ministerial approval.

    Should your account be transferred, Bank of Ireland 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.  

    As always, updated financial information will be required prior to drawdown of your mortgage. This is to ensure your circumstances have not changed since you original application and the mortgage remains suitable and affordable to you. If your loan offer includes a cash contribution towards professional fee KBC will continue to honor in line with terms and conditions.

  • Should a Binding Agreement with Bank Of Ireland receive ministerial approval, your Mortgage will transfer to Bank of Ireland.

    If you are drawing down your mortgage in stage payments , the process will continue as agreed in your loan offer terms and conditions. Once your mortgage  transfers to Bank of Ireland they will continue to support you in your mortgage journey. The transfer to Bank of Ireland is subject to ministerial approval.

    Should your account be transferred, Bank of Ireland 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.  

    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.

Customers in Financial Difficulty

For more information on the Non-Performing Loan Sale Announcement on the 30th August please click here.

If you have a loan account that is currently non-performing you will find more information here.
  • We will continue to work with all our customers in financial difficulty to find sustainable solutions, always being clear and fair in our communications and dealings, and always mindful and respectful of your individual circumstances. We wish to stress the importance of active engagement in dealing with, or averting, a financial difficulties situation

    It is important that you continue to meet your monthly repayments and that you contact our Arrears Support Unit if your circumstances should change or are concerned about meeting your monthly repayments. For mortgage customers please call 0818 93 02 35. For Personal Loan, Credit Card and Overdrafts please call 01-6646200.
     

KBC Hubs

You can also phone or drop into your nearest Hub. A full list of Hub phone numbers and locations are available here.

Worried about your Finances?

We know that anyone can get into financial difficulty, often unexpectedly. If, for example, your earnings have decreased, or you’re borrowing to clear your debts, these could be early signs that you are going into arrears. If you are worried about your financial circumstances, please get in touch to talk about your options and how we can help you.

We’re here Monday to Friday from 9am to 5.30pm.
Email us at collectionsenquires@kbc.ie
Mortgage customers should call 0818 93 02 35
Credit Card customers should call 1800 936 287
Personal Loan customers should call 01 664 6200

Complaints

KBC continues to be committed to supporting our customers at this time. If you’d like to make a complaint, here are the ways to get in touch:

Phone us on: 01 664 6000
Email us at: complaintsteam@kbc.ie
Write to us at: KBC Bank Ireland, Complaints & Resolutions Manager, Sandwith Street, Dublin 2

You'll find more information on making a complaint here.

Data Protection

You can find more information on Data Protection here.

Be Aware of Fraud

Fraudsters may attempt to exploit the situation by claiming to be from KBC and that you need to register your details or re-register your information. If you experience any suspicious activity - text, email or phone calls - please call our customer service team.

KBC will NEVER request sensitive information like Passcodes or Online Banking details or any code embedded in an SMS over the Phone, by Email or Text. Be aware of fraudulent callers pretending to be from KBC and calling from numbers that may look legitimate. If you receive such a call, hang up and call 1800 93 92 44 for support.

You can find out more about Fraud Prevention here - Fraud Prevention - KBC.

MoU FAQ Lister

Product FAQs