New sort code for KBC Bank

D

DMcL1971

Registered User
Messages
260
As anyone who saves with KBC knows, in order to lodge money to your account you need to transfer your money to KBC's account with Ulster Bank before the funds will clear and be deposited in your own account. That means that it takes about 5 days for your lodgement to show up in your account, though it will be backdated to the correct date when it does appear.

KBC now have their own sort code, so there is no need for the funds to go through Ulster Bank anymore, which should speed up the deposit process. They still do not accept third party lodgements, so the money does still have to come from an account in your own name but you no longer need to use your account number as a reference on the transaction.

Their new sort code is 99-02-70.

So whereas before in order to transfer money to your KBC account number 12345678 you would transfer the money to
Sort Code:985010
Account Number: 12254215
Reference: 12345678-Your Name

You can now send the money straight to
Sort Code:990270
Account Number: 12345678
Reference: anything you like

PS I only have savings with KBC so I don't know if this has any effect on how people might make mortgage payments.
 
Has KBC written to customers about this?

I don't think anyone should change the account details on their payments unless they have been told to do so by their bank.

Brendan
 
I didn't receive a letter. I was told over the phone while querying whether a deposit had cleared yet. If any other KBC savers would like to verify this, it might be a good idea.
 
KBC now provide clearing banking services which explains the new wire details. The first bank since BoSI/Halifax to do so.

Makes you wonder if they are considering launching a current account product.
 
There is also an article on their website in relation to a new retail branch they have opoened up on baggot Street and their plans for the future.

[broken link removed]


Quote from the article

“We have ambitious plans to grow our business and the opening of our new Dublin retail office is an exciting and important step in our drive to offer real choice to customers in Ireland. Our focus is on being a leading retail bank, providing attractive savings, mortgage and other financial services to consumers. We are committed to providing sustainable competition in the Irish market”, said John Reynolds.
 
We certainly need another current account product so will be keeping an eye out for it.
 
Thanks for this,I was just about to raise a query about how long it would take to transfer money to KBC,online. The code I received was 990270,as per the OP.
 
I decided to do a test this month. I made two transfers to my KBC account. Both were made from the same source account, within a few minutes of each other. One was sent using the older UB sort code and the other was sent using the new KBC sort code.

The one sent to the new sort code appeared on my KBC account the next day.
The one sent to the UB sort code appeared on my KBC account four days later.

Both transactions had the same date (next day) on them on my KBC account but the one using the older UB details took three days longer to show up.
 
You must log in or register to reply here.
Back
Top