Is there a penalty for switching after a month?

[Carlie16]

I switched to BOI in December on a variable rate of 3.7%. I now have approval from KBC. They are offering me a fixed 2 year rate of 2.25%. Can I switch now or is it too soon? Can BOI penalise me in any way?

 

[Dauhee]

no you are on variable to no penalty

 

[rochforn]

I thought KBC was 6 months with current provider?

 

[Edward33]

I thought KBC was 6 months with current provider?

I think KBC are the one bank that do not have a requirement of time spent with current provider.

 

[BourbonWithIce]

it's 6 months with KBC. I was only speaking to them yesterday.

 

[Dauhee]

Op has approval with KBC so its not 6 months in this case

 

[BourbonWithIce]

Op has approval with KBC so its not 6 months in this case

I thought he had approval from KBC as they think he is switching from another bank. He has since switched to BOI in December and is looking to switch again to KBC. If KBC knew he had since moved to BOI, they wouldn't be giving him any such approval.

 

[Dauhee]

I thought he had approval from KBC as they think he is switching from another bank. He has since switched to BOI in December and is looking to switch again to KBC. If KBC knew he had since moved to BOI, they wouldn't be giving him any such approval.

Have another read of the post - Currently with BOI. KBC given approval. That is stated as fact and there is no indication of any complication with KBC. The question is about penalty from BOI for leaving which I have already given my opinion

Wait period is not set in stone, thats fact.