KBC customers in Ireland have just six months left to move their accounts to another provider before the banking service exits the Irish market.
Although the bank will continue to accept new customers until July 15, 2022, its services will no longer be available in Ireland from 2023.
Despite coming to an agreement with the Bank of Ireland, the Belgian bank warned: “Should you wish to continue with your application and your new account is opened you should be aware that your Current Accounts will not move to Bank of Ireland.
Read More: Full list of fees for each Irish bank as thousands begin to switch from Ulster Bank and KBC
“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.”
According to recent reports, there are around 52,000 account holders who still need to organise new accounts for themselves.
Anyone who still has an account with KBC will receive a letter of notice which will be sent over the remainder of this year and into early 2023, the bank said in a statement today.
KBC says it will also continue to send reminders to customers ahead of the six-month cut-off point through letters, emails, and SMS messages.
In a statement released last month, the bank promised: "It is the bank's intention that the closure of all accounts is managed in a careful and efficient manner keeping customers informed throughout.”
It said that it understands the importance of a current account in the financial lives of its customers and that they “understand that changing banks involves significant time and effort on behalf of customers and it is our intention to support them throughout that process.
It also said it was fully aware of the worry customers have around the volume of people that will be trying to open new current accounts over the coming months and the delays that could be associated with that.
"It is our determination to meet our responsibilities and to minimise to the greatest extent possible, the inconvenience caused to our customers," it stated.
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