KBC Enter Current Account Market (Details Revealed)

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I am informed that KBC are going to launch a current account product later this year.

This is a fresh boost for competition in the current account market.

KBC will be the first entrant into the Irish current account market, in about a decade, since Halifax/PostBank.

A very welcome development.
 
I was hoping that this would happen and I look forward to hearing its terms and conditions if any.
 
A welcome development indeed. It will be interesting to see how the existing banks react.
 
Pat Kenny was discussing this on his show this morning, said this is the last thing the big banks wanted right now.

If I heard correctly if your account is kept in the black there will be no charges.

Will also have atm card but which one was not mentioned.

Have just the one branch in Baggot Street.
 
IMO since PTSB have now announced that they are removing most conditions for free banking this is not nearly as much of a big deal as it would have been say 9 months ago. Interesting all the same though.

I have saving with them and find them great to deal with.
 
I look forward to finding out more about what they will be offering. I have been saving with them for around a year now and am very happy with the service I receive.

My concern is that they will not be able to provide all the services many of us have come to expect from our current accounts. Their online banking is currently very very basic. Basically just online viewing of your accounts. Transactions take a few days to show on your account. Paper confirmations are sent for every transaction.

This is all a long way from full online banking with facilities to set up transfers, standing orders, direct debits, do international transfers or have access through a web app.

If anything I imagine it will be a very basic current account offering.
 
DMcL1971 said:
If anything I imagine it will be a very basic current account offering.


Cheap & Cheerful may be just what the doctor ordered, my friend ;) ... lets face it, there's enough people giving out about the fees being charged by BoI and others, these days.

Having said all that, BoS-Halifax once offered a very good value Current Account and look how that failed to secure market share - all of the complainers simply didnt' appear to want to move banks, when it came to the crunch, or so I think it was reported at the time.

What amazes me, is the way in which some Banks insist on sending our paper for every transaction - Danske do it, you mention KBC also. I can understand why they might do it for larger transactions, or perhaps unusual FX transactions but otherwise, there's far too much paper for those of us with online banking imho & it could save a fortune on postage, not to mention help to cheer up a few tree huggers ;) :)

Regards

Mr. Earl
 
KBC, used Ulster Bank, for some time, this delayed the display of transactions online, as transactions went through an intermediary bank.

I expect KBC to launch a competitive non-cash service.

The Indo have covered this today.

Belgian-owned KBC Bank is set to become the first entrant in the current-account market here in more than a decade, the Irish Independent has learned.

It follows revelations that Permanent TSB is to scrap fees for existing and new customers who take up its current account.

The moves by KBC and Permanent TSB are set to ratchet up pressure on AIB and Bank of Ireland, in particular, as the two banks have made it almost impossible for customers to avoid fees and charges.

KBC Bank, which already has a strong presence here in mortgage lending, corporate banking and savings, is in test phase with its new product.
 
I wonder if KBC would consider a joint venture with An Post - could be mutually beneficial.
 
Yeah, if they go for a cash current account model. Maybe KBC will look to the future and launch an online only current account product.
This is the way to go. I have my current account in Germany with DKB which has no retail branches (any more).
 
I was just on the phone to them and they said 'hopefully before the end of the year'.
 
I'm opening a BoI account to move to from UB as the account sees few transactions. I'll move again to KBC and drop BoI like a hot stone if they offer a truly free current account. People need to keep switching to force the banks' hands on this. Inertia is what the banks count on.
 
I'm opening a BoI account to move to from UB as the account sees few transactions. I'll move again to KBC and drop BoI like a hot stone if they offer a truly free current account. People need to keep switching to force the banks' hands on this. Inertia is what the banks count on.

If you are moving at all why not move to PTSB?; obviously if €1500 hits the account ever month - I presume €3,000 doesn't hit the account and hence why you are moving from UB.

... as the account sees few transactions. .

As this is the case would it be worth checking out non-current account options?
 
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1500 wouldn't hit this account either, so PTSB is no better from that side. What do you mean about non-current account options?
 
murphaph -why not just withdraw and lodge money until you hit the 1500 mark? then you get your free banking with PTSB.

All you need is either easy access to a branch or to have an online savings account outside PTSB and transfer funds into/out of it as needed.
 
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