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60% Of KBC and Ulster Bank Customers Having Challenges Switching Banks

New research shows 60% of KBC and Ulster Bank current account customers have faced challenges switch...
Caoimhseach Connolly
Caoimhseach Connolly

10:40 AM - 2 Nov 2022



60% Of KBC and Ulster Bank Cus...

News

60% Of KBC and Ulster Bank Customers Having Challenges Switching Banks

Caoimhseach Connolly
Caoimhseach Connolly

10:40 AM - 2 Nov 2022



New research shows 60% of KBC and Ulster Bank current account customers have faced challenges switching banks.

The survey by Competition and Consumer Protection Commission also found 1 in 8 customers haven't yet decided on a new bank. This compares to 1 in 4 in who hadn't decided in July.

The most significant issue related to transferring payments, with 29% reporting difficulties moving their direct debits.

The Central Bank of Ireland says "853,521 current and deposit accounts remained open in KBC and Ulster Bank at the end of September."

The consumer watchdog also reports that 52% of current account accounts have opened a new account.

Almost two-thirds of Ulster Bank customers who plan on switching expect to have done so within the next month.



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Banking CCPC Competition And Consumer Protection Commission Current Account KBC Money Personal Finance Ulster Bank

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