How legitimate are KBC?

OldMrBrennan83

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TheChizler

I've been with them for a while and they're very good. Decent app and online banking, helpful Irish based customer service.

srsly78

If they have a banking licence then they are a legitimate bank. Those "offshore" ones you refer to are also legitimate (no 26 recently got a full german licence).

If you really need to take out huge wads of cash for drug-deals etc then maybe you should stick to bricks+mortar. Even then you are probably screwed tho, since many of our "traditional" banks have atm-only branches now.

C3PO

I think it would be fair to say that KBC are at least as legitimate as AIB or Bank of Ireland!!
:rolleyes:

OldMrBrennan83

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Atari Jaguar

I imagine for a large sum of money you would transfer to another account and withdraw from that branch.

To be honest I was with them for a while but the main reason I switched was there was no branches near me to lodge money into my account if I wanted to or if I just need to stop in and deal with something that you can't do over the phone or online. But if you're in ease of access to a branch and transferring cash for withdrawal isn't a huge problem they're a great bank.

I wouldn't choose my bank based solely on android pay OP. I mean you're talking about moving banks to somewhere that won't facilitate you needing a large sum of money in a hurry (car breakdown or something) is it really the best approach? Just to use Andriod Pay?

OldMrBrennan83

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Atari Jaguar

Patww79 wrote: »

Were they under another name previously or are they a new bank? 30 or so branches doesn't tally up with what you've said there.

They've been around since the 70's apparently.

OldMrBrennan83

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Atari Jaguar

Patww79 wrote: »

No the interest in AP just threw their name up. I'm not happy with my current bank for not adopting this tech but it's not a huge reason, more another thing to add to the list of things I'm not happy with them for (Bank of Ireland, 365 constantly being down as the main issue) meaning I will finally get around to switching after putting it off for ages.

Needing a large sum of money or lodging cash wouldn't really be an issue for me either as it never happens, but I'm just weighing all up as a 'just in case' scenario. I could keep the BoI account for those things as you say though.

Had you any experience with savings accounts while you used them? I like to keep most of my money in one to protect against skimming/cloning of the card/etc but I want one that I can transfer to my current account online as and when I need to. I do this with BoI already (when it works) and it's a big feature I'd want to keep.

I don't think card cloning is an issue for Irish banks as we don't use the mag strip for payments.

PTSB offers free banking if you lodge (not maintain a balance of) 1,500 a month. They have online savers that you can transfer to and from as often as you wish. You need to set it up through Open24 once you're set up with that. Plus the added benefit of your Open24 no being printed on the back of your card, the only things you need to remember are your Password and PAN. (6 digit number and you pick it yourself they just ask for 4 numbers of it). I've been with them for a year now and they're fantastic.

And like with KBC and unlike BOI, when you use contactless it takes from you instantly. So you don't end up overdrawn.

BuffyBot

Were they under another name previously or are they a new bank? 30 or so branches doesn't tally up with what you've said there.

They used to be Irish Intercontinental Bank, which dealt mostly in the corporate banking sphere. KBC have had a shareholding since the late 70's and complete ownership since the 90's. The move into retail banking has only come in the last few years.

PTSB offers free banking if you lodge (not maintain a balance of) 1,500 a month

Not any more, for new customers. The product offering changed a few months ago.

C3PO

Patww79 wrote: »

Were they under another name previously or are they a new bank? 30 or so branches doesn't tally up with what you've said there.

34th in Europe interns of size according to this list - way ahead of BOI or AIB!

http://www.relbanks.com/top-european-banks/assets

The J Stands for Jay

Atari Jaguar wrote: »

I don't think card cloning is an issue for Irish banks as we don't use the mag strip for payments.

PTSB offers free banking if you lodge (not maintain a balance of) 1,500 a month. They have online savers that you can transfer to and from as often as you wish. You need to set it up through Open24 once you're set up with that. Plus the added benefit of your Open24 no being printed on the back of your card, the only things you need to remember are your Password and PAN. (6 digit number and you pick it yourself they just ask for 4 numbers of it). I've been with them for a year now and they're fantastic.

And like with KBC and unlike BOI, when you use contactless it takes from you instantly. So you don't end up overdrawn.

PTSB's Open 24 is woeful and best avoided. For someone who likes the idea of Android Pay, their android app would be unacceptable (it's also unacceptable for anyone's use).

Atari Jaguar

BuffyBot wrote: »

Not any more, for new customers. The product offering changed a few months ago.

Oh the explore account is their new main current account now? I was under the assumption it was either or.

Atari Jaguar

McGaggs wrote: »

PTSB's Open 24 is woeful and best avoided. For someone who likes the idea of Android Pay, their android app would be unacceptable (it's also unacceptable for anyone's use).

They updated it about a week or so ago. Much improved.

OldMrBrennan83

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srsly78

With KBC you must use a card-reader for everything, even just logging in.

Strange to hear people complaining about BoI 365, I've never had a problem with it.

TheChizler

I use the AIB card reader very rarely. Only need it for adding payees or doing other rare things. KBC don't use a card reader as far as I know, they have a code generator build into the app.

Atari Jaguar

TheChizler wrote: »

I use the AIB card reader very rarely. Only need it for adding payees or doing other rare things. KBC don't use a card reader as far as I know, they have a code generator build into the app.

They don't. They use the code generator or text you the code. Even the AIB reader is rarely used like you said, unless you're often adding payees or applying for accounts or credit cards then you'll barely use it.

Edit; just remembered KBC do have a device that generates codes for people who don't have a smartphone for the app. If you don't have one you need to generate codes for logging in online but with the app there's no need.

Zaph

KBC are one of the largest retail banks in Belgium and are a major player in the European interbank market. If you'd be happy dealing with AIB or Bank of Ireland you should have no concerns about KBC.

Bob24

Atari Jaguar wrote: »

PTSB offers free banking if you lodge (not maintain a balance of) 1,500 a month. They have online savers that you can transfer to and from as often as you wish.

Would you by chance know if the standing order for monthly savings have to come from a PTSB current account, or can it be from another bank?

Big C

was with aib for many years but final straw was when they changed age for free banking, amazed ulster bank not mentioned for good service, local branches, free banking , etc etc. I've been with ulster bank for over a year and am totally satisfied with them.

Atari Jaguar

Bob24 wrote: »

Would you by chance know if the standing order for monthly savings have to come from a PTSB current account, or can it be from another bank?

You can transfer from any account but you can't open them unless you have a current account with PTSB. They are online only additions to your main account.

They do have savers that you can hold without an account.

Bob24

Atari Jaguar wrote: »

You can transfer from any account but you can't open them unless you have a current account with PTSB. They are online only additions to your main account.

They do have savers that you can hold without an account.

Thanks! I have a joint account with PTSB but the saving account would solely be under my name (I see they say joint online saving accounts are not supported anyway), and receive standing orders from an account with another bank.

I can see there is an option on mile to open the account, but I was just wondering if it would force me to setup a DD / standing order from the joint account. From what you are saying it take it it won't be the case?

Atari Jaguar

Bob24 wrote: »

Thanks! I have a joint account with PTSB but the saving account would solely be under my name (I see they say joint online saving accounts are not supported anyway), and receive standing orders from an account with another bank.

I can see there is an option on mile to open the account, but I was just wondering if it would force me to setup a DD / standing order from the joint account. From what you are saying it take it it won't be the case?

No. I wasn't asked to set up any kind of direct debit. You can if you want but it's not a requirement for the online regular saver acc. I have paid in and out using many bank accounts with no issue. It opens instantly and you get your iban and bic to start transferring at your leisure.

DMcL1971

Bob24 wrote: »

I can see there is an option on mile to open the account, but I was just wondering if it would force me to setup a DD / standing order from the joint account. From what you are saying it take it it won't be the case?

The money for your savings account can come from anywhere. It can come from your current account or your joint account or an account anywhere in the world in anyones name. They don't care where it comes from.

DMcL1971

Bob24 wrote: »

I can see there is an option on mile to open the account, but I was just wondering if it would force me to setup a DD / standing order from the joint account. From what you are saying it take it it won't be the case?

Also, the money going into your account does not have to be delivered specifically by DD or standing order. You can make ad hoc lodgements to it and DD's and standing orders. The only limitation is that you cannot lodge more than 1000 total in any calendar month.

You can also withdraw money from the account any time you like.

DMcL1971

Patww79 wrote: »

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There are no hidden charges or small print. Once you lodge 2500 you pay no fees. The account also gives you better interest rates on their regular saver account. However if you fail to lodge 2500 in any month ever, then you lose the preferential rate.

I have been banking with KBC for about ten years and have had no problems. The fact that they have only a handful of branches is of no concern to me as I do all my banking online anyway. They have at least three saving accounts where you can lodge and withdraw money any time you like.

I have not used their app in a long time but found it easy to use when I did. If you want to use online banking then you need to generate pass codes to login. This can be done either using a pass code generator that they post out to you or you can use your phone to generate the codes.

Atari Jaguar

DMcL1971 wrote: »

You can also withdraw money from the account any time you like.

Assuming you transfer. You can't withdraw by ATM or in branch.

Coyote

Hi Patww79

the if you have any questions I would guess the best place to ask is
Ask KBC one of the Boards talk to forms

OldMrBrennan83

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