Article by Joe Brennan in the Irish Times
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www.irishtimes.com
Snippets:
KBC Bank Ireland will start to give its current account customers 90 days’ notice to close their accounts from June 1st, it said on Tuesday, as the Belgian-owned lender advances plans to exit the Republic.
A spokesman for KBC Bank Ireland told The Irish Times last week that current account customers with overdrafts will be given additional time to secure credit elsewhere. “These customers will be provided with 120 days’ notice to reflect the fact that they may have to go through an application process with another provider,” he said. “Where a customer is not in a position to repay their overdraft, KBC will work with customers on an individual solution appropriate to their circumstances. We have circa 7,000 customers with overdraft limits attaching to their current accounts.”
The Central Bank’s director of consumer protection, Colm Kincaid, told the Oireachtas joint finance committee two weeks ago that exiting and remaining banks “are not where they need to be at this stage” in terms of managing the process.
KBC Ireland set to give current account holders 90 days to move
Central Bank concerned banks ‘not where they need to be’ in handling numbers looking to transfer accounts
Snippets:
KBC Bank Ireland will start to give its current account customers 90 days’ notice to close their accounts from June 1st, it said on Tuesday, as the Belgian-owned lender advances plans to exit the Republic.
A spokesman for KBC Bank Ireland told The Irish Times last week that current account customers with overdrafts will be given additional time to secure credit elsewhere. “These customers will be provided with 120 days’ notice to reflect the fact that they may have to go through an application process with another provider,” he said. “Where a customer is not in a position to repay their overdraft, KBC will work with customers on an individual solution appropriate to their circumstances. We have circa 7,000 customers with overdraft limits attaching to their current accounts.”
The Central Bank’s director of consumer protection, Colm Kincaid, told the Oireachtas joint finance committee two weeks ago that exiting and remaining banks “are not where they need to be at this stage” in terms of managing the process.