KBC exiting Ireland

lawred2 · 17-04-2022 6:53pm

I have the Revolut bank account so I'll likely be just switching over to that... although the plan has already had it's first knock back with the Ulster bank mortgage portal considering the IBAN invalid...

no doubt because it's neither Irish nor British

Going to ring tomorrow to see if a paper mandate can be completed and that the issue is with some outdated validation on the website.

henke · 17-04-2022 7:21pm

https://www.boards.ie/discussion/comment/118939879#Comment_118939879

I was going to just use Revolut/N26 as well and have an Ulster Bank mortgage so hopefully there is a solution to this.

17-04-2022 8:40pm

https://www.boards.ie/discussion/comment/118938550#Comment_118938550

https://www.boards.ie/discussion/comment/118939856#Comment_118939856

No, @jahalpin is correct, banks are not allowed accept (SEPA) debit/credit instructions using the outdated national systems.

However, that doesn't mean a company must be using up-to-date payroll systems. What many companies did is purchase a supplementary software to bridge the gap i.e. it would take an "old" payroll file and convert it to a new SEPA file that the bank would accept. The company would still use the old payroll, the bank would receive a SEPA-compliant file, and everyone is happy - except the supplier or employee that wants the company to use a non-Irish account. Unfortunately, the consequences are pretty low for non-compliant companies

.G. · 18-04-2022 4:54pm

After lots of deliberating I decided to go with AIB. Went through the process on the app only for it to tell me they believe I already have an AIB account and I need to go to branch. That ain't happening, I want to avoid branches as much as possible. Last AIB account I had was 1996!

So I tried with PTSB and I can't do that either as the text codes they want to send me during the sign up process aren't coming through! Great stuff🤦

EDIT: turns out the PTSB messages are being presumed as spam so were being directed there without my input.

Seve OB · 18-04-2022 5:17pm

https://www.boards.ie/discussion/comment/118938550#Comment_118938550

Oh yes you can. And all payrolls get updated every year so no such thing as a very old payroll

bugsyb4 · 19-04-2022 1:37pm

https://www.boards.ie/discussion/comment/118928726#Comment_118928726

Thanks for this, extremely helpful!

Leaning towards AIB but can I ask a quick q, do you need any minimum balance in your current account to lower fees or does it matter at all? Back a few years ago with BOI had to keep minimum balance in account but this was to avoid fees completely so this is a totally different scenario.

Have mortgage with KBC so think will switch that to AIB to get free banking on that. Is there any catch with this?

Then just set up 2 separate current accounts in our own names then and pay the fees that you have listed above.

L1011 · 19-04-2022 1:42pm

https://www.boards.ie/discussion/comment/118936572#Comment_118936572

They probably don't make money on current accounts. But NI (they don't offer consumer banking in GB) has a vastly more competitive banking market whereas we are now going to have a whole three full service banks left - so much more reason to offer free current accounts to hold on to customers for other stuff.

19-04-2022 1:47pm

What utility companies don't accept non Irish accounts?

Would like to avoid opening an Irish bank account if possible

Daith · 19-04-2022 2:32pm

Has anyone with a KBC mortgage rang them and asked for a new fixed rate? I presume they still are offering them?

Theboinkmaster · 19-04-2022 2:41pm

https://www.boards.ie/discussion/comment/118946565#Comment_118946565

yes they are

smokie72 · 19-04-2022 2:42pm

https://www.boards.ie/discussion/comment/118946565#Comment_118946565

My fixed rate with KBC ends in June. I got the letter they send out before it ends and if I stay with them I would go automatically on a variable rate of 3 percent or a fixed rate of between 2.45 and 2.7 percent depending on LTV and duration of fixed rate.

Citrus_8 · 19-04-2022 2:57pm

https://www.boards.ie/discussion/comment/118946249#Comment_118946249

No minimum balance or lodgement required with AIB current account. This was a thing a few years back.

MercuryBoy · 19-04-2022 4:10pm

Seems n26 have frozen a load of accounts recently, there is even a lawsuit organised by angry users https://uk.trustpilot.com/review/n26.com

jj880 · 19-04-2022 4:19pm

Managed to get current account moved to EBS in January (mortgage always been with BOI). There is already talk that EBS will be pulling out of Ireland soon. Hopefully get a year or 2 out of them as there are no fees at all (apart from government charges all banks have to collec) and the online banking is decent.

Im in no way ready to rely solely on an online only bank like revolut / n26. I have revolut but I use it in N. Ireland / Amazon for the good exchange rates and for sending money abroad. It is handy to send receive money by mobile number also but there is practically zero support if you have an issue.

raxy · 19-04-2022 4:26pm

https://www.boards.ie/discussion/comment/118946249#Comment_118946249

The catch with AIB offering free banking if you have your mortgage with them is you are paying more in interest, Obviously depends on what you pick & how much your mortgage is but you could be paying 40-50 more per month interest on your mortgage to save 5-6 in banking fees. They are giving 2k for switching though, up tp you to look at your figures & decide what suits you best

Mundane · 19-04-2022 4:46pm

I've got a Current Account, Credit Card and Savings Account with KBC.

Current will now be a blend of N26 and EBS (only when a physical act is required, such as lodging cash).

Savings will be shifted into State Savings, best option of a bad bunch.

That leaves me with Credit card and would appreciate some advice. I don't have a balance to transfer and I tend to pay as I go. I simply have the credit card as an extra layer of security for certain purchases and as a back up emergency source of funds. So I'm not to bothered about APR, interest free this and that... I want to know who offers cash back / deals and has the most useable app?

Thanks.

bugsyb4 · 19-04-2022 4:59pm

https://www.boards.ie/discussion/comment/118947031#Comment_118947031

Will be trying to get on Green Rate of 2.10% and fixing for 5 years, currently getting 2.25% with an extra current account with KBC.

I have had no issues with KBC so sad to see them leave the market as since we moved to them from BOI have not had to pay 1c in fees for having extra current accounts so will miss that but it is what it is...

Indestructable · 19-04-2022 5:48pm

https://www.boards.ie/discussion/comment/118947128#Comment_118947128

Have to say Avantcard are excellent for Credit Cards. Easy to see transactions online and in app, easy to pay off too. (The app also sends an instant notification for every transaction, which is handy for security)

Get a few euro back each month and access to Avantages which has good deals from time to time. Be careful with the limit they set at the beginning, I got 8k and didn't want the colour of that.

Daith · 19-04-2022 5:57pm

https://www.boards.ie/discussion/comment/118946597#Comment_118946597

Right. In a similar boat. Thanks

raxy · 19-04-2022 5:57pm

I've an avantcard cc too. Get €12 cash back nearly every month. I always forget to check for the deals but have a circle k fuel card through it that gets me 4c/l off.

I had a look at their trust pilot reviews though & they are quite bad. Not sure how. I got a 30k loan from them recently & the money was in my account within a week. Mortgage application was sent to them a week ago so probably another 3-4 weeks to hear about that.

adox · 19-04-2022 6:08pm

Yep Avancard user hear too. Cash back every month. Only negative is they don’t have Apple or Google Pay support.

got around that by getting a Curve card and linking it to that.

.G. · 19-04-2022 6:13pm

https://www.boards.ie/discussion/comment/118946308#Comment_118946308

They'll all accept them but some will fight you over it until you point out that the practice is illegal and they must accept it.

Vodafone in my case won't allow you to change to a non Irish Iban on your account on their website, you have to go to a Vodafone store and get them to do it for you.

.G. · 19-04-2022 6:14pm

https://www.boards.ie/discussion/comment/118946973#Comment_118946973

I must admit this spooked me! I saw it yesterday and moved all my savings out straight away. Just have small amounts left for the direct debits that come from that account.

Poor way to treat customers given how they've handled it.

Yggr of Asgard · 19-04-2022 6:15pm

Avantcard cashback on transactions is no longer available to new users.

On the reward+ card you now only can get 25% interest refund, which is no use to Mundane as Mundane wants to pay off the card when used.

19-04-2022 7:27pm

https://www.boards.ie/discussion/comment/118947521#Comment_118947521

According to Electric Ireland, it's a BPFI restriction around not allowing electronic mandates for non domestic direct debits...

We understand your frustration with the requirement for a paper Direct Debit mandate to be submitted. At Electric Ireland we strive to make our customer journey as easy and efficient as possible. Our preference would be to facilitate paperless (i.e. online or telephone) Direct Debit mandates for all customers.

As a Creditor operating within the SEPA Direct Debit Scheme Electric Ireland is required to comply with SEPA Scheme Rules. Failure to do so would impact our participation in the SEPA Direct Debit Scheme. This would in turn affect our ability to offer Direct Debit as a payment method to all our customers.

Through our banking partners Electric Ireland has raised the issue around the requirement for a paper Direct Debit mandate with the Banking and Payments Federation of Ireland (BPFI). The BPFI confirmed that we are required to have a paper mandate for all customers where the customer’s bank account is not domiciled in ROI. The use of paperless mandates for non-ROI based account is not authorised under SEPA Scheme Rules.

Electric Ireland can and does facilitate payments via Direct Debit for all customers. I acknowledge that for customers whose bank accounts are not domiciled in ROI it is inefficient and inconvenient to submit a paper mandate. As much as we would prefer to offer a paperless option this is not within Electric Ireland’s control.

I understand that this will not address the inconvenience of submitting a paper mandate, but I hope that it may give you some insight into why Electric Ireland is required to obtain a paper based Direct Debit mandate.

jahalpin · 19-04-2022 10:03pm

https://www.boards.ie/discussion/comment/118938793#Comment_118938793

All payments to EUR bank accounts in the SEPAZONE must be made using the IBAN of the account, you cannot use the old local account numbers. A number of countries outside of the EU don't even use IBANs

jahalpin · 19-04-2022 10:07pm

https://www.boards.ie/discussion/comment/118943483#Comment_118943483

You actually can't, as another poster has mentioned the payroll software converts the old format account number to an IBAN before it sends it to the bank for processing. The actual applications obviously don't get updated every year it is just the payroll tax rules that get updated regularly. The UK still offers the choice of using the IBAN or old style account number and sort code

Mundane · 19-04-2022 10:55pm

https://www.boards.ie/discussion/comment/118947531#Comment_118947531

Yep, not much use to me so, however, not supporting Google Pay would probably have been a deal breaker either way. I had gotten used to getting my few quid cash back each month from KBC. The search continues.

Yggr of Asgard · 20-04-2022 9:49am

https://www.boards.ie/discussion/comment/118949336#Comment_118949336

I think the only cashback option is the AIB Platinum Visa Card which gives 0.5% up to 225€ if you spend at least 5000€ a year.

L1011 · 20-04-2022 9:56am

There's also the Aercard for Avios but you'd be hard pressed to recover the card fees that way.

feargantae · 20-04-2022 12:38pm

https://www.boards.ie/discussion/comment/118947521#Comment_118947521

Hmmm, I was able to go into the MyVodafone app, delete the direct debit details and then just add a card as backup.

Ye can never know with Vodafone though!

feargantae · 20-04-2022 12:41pm

I'm in a bit of a conundrum myself. I've a credit card with KBC from my student days years ago with a small enough (€500) limit. I understand that KBC will transfer these cards to BOI in the sale but presumably I'd just be moved to a normal CC and I think the minimum limit is €1,000 with them! I wonder whatll happen to me as the card was handy to have just in case, topping up revolut etc

The J Stands for Jay · 20-04-2022 12:54pm

https://www.boards.ie/discussion/comment/118947177#Comment_118947177

You'd be better off paying the AIB fees and getting 1.95% with Avant money.

Irish Gunner · 21-04-2022 8:17am

Ok just looking around for accounts to switch current joint account to from KBC and was looking at switching to EBS Money Market Account

We only use the account for paying bills, mortgage and debit card for shopping and very rarely if any withdraw cash. Local branch near us so will drop down to them to discuss but just looking for user experience and what their online portal is like and do they have app for Banking

All experiences welcome

Thanks

jj880 · 21-04-2022 9:12am

https://www.boards.ie/discussion/comment/118954748#Comment_118954748

I was same situation as you. I got the Money Manager Account with EBS in January.

They have 2 apps. 1 for approving online card transactions and 1 for authenticating your login to the online banking website.

There is no dedicated app for online banking. You have to use the website. You can use the website on your mobile phone but it's not as handy as the Ulsterbank app for example which is very good. I do miss their app.

EBS did the switcher. They wrote to all my direct debits with the new account details. Some did not switch however. It's up to you to ensure they switch. For this reason I recommend a switcher option B to keep your old and new accounts open until you are sure everything is in order. Vodafone for example. But it was easy for me to login to vodafone and change the IBAN. Same for my mortgage life insurance. Simple onilne update.

The phone banking / support is very good if you have any issues.

All things considered it's a good setup for not paying any monthly fees.

rodge123 · 21-04-2022 9:55am

Anybody know if Avant offer contribution to solictor fees in addition to the 1.95%?

MercuryBoy · 21-04-2022 10:06am

Decided to put up with the €4.50 fee per quarter with AIB and use them for savings and getting my salary, then will use N26 for daily banking stuff...it seems sending a SEPA from AIB to N26 is free...The N26 App is really nice but it seems too big a risk to leave any large lump sum with them

henke · 21-04-2022 10:12am

https://www.boards.ie/discussion/comment/118955203#Comment_118955203

I also opened a basic current account with AIB and plan to use it for wages. Are you going to use your N26 for any outgoing direct debits etc or the AIB account? When you say SEPA do you mean a standing order from AIB to N26? Thanks.

MercuryBoy · 21-04-2022 10:15am

https://www.boards.ie/discussion/comment/118955237#Comment_118955237

Plan is to send a sum once a month from AIB to n26 using a bank transfer / SEPA, which actually on closer inspection will cost €0.20. Then I'll use N26 for everything , paying bills, sending people money, withdrawing cash, debit card purchases etc...

raxy · 21-04-2022 11:12am

https://www.boards.ie/discussion/comment/118955154#Comment_118955154

They did for kbc & ulster customers but that deal ended at the end of March. I was hoping they would extend it but I don't think so.

NetworkOrange · 21-04-2022 11:20am

https://www.boards.ie/discussion/comment/118954947#Comment_118954947

As someone else has mentioned, EBS want to pull out of the savings/current account game: https://www.irishtimes.com/business/financial-services/ebs-considers-pulling-back-from-savings-products-to-focus-on-mortgages-1.4780661

bugsyb4 · 21-04-2022 12:58pm

https://www.boards.ie/discussion/comment/118951176#Comment_118951176

Do Avant give any cashback for switching? AIB are offering 2k from what I can see.

retalivity · 21-04-2022 1:00pm

Avant cashback for KBC/Ulster switchers ended on 31st March, no new cashback offer as of yet

Shuffl_in · 21-04-2022 1:01pm

And what would happen if/when EBS leave? Would all current accounts get transferred to a fee paying AIB account after a notice period?

If so they're just going to hang on for now to mop up some of the KBC/UB accounts aren't they? They know a certain percentage wouldn't be bothered changing banks again.

The J Stands for Jay · 21-04-2022 1:03pm

https://www.boards.ie/discussion/comment/118956048#Comment_118956048

I'm getting €1,500 along with the lower rate.

bugsyb4 · 21-04-2022 1:06pm

https://www.boards.ie/discussion/comment/118956075#Comment_118956075

You switched before 31st March so I bet as that offer since seems to be gone per users above. Our fixed rate isn't up until Aug and only really looking into this now with all the media attention over KBC legging it recently..

jj880 · 21-04-2022 1:45pm

https://www.boards.ie/discussion/comment/118956057#Comment_118956057

Yeah this is what Im thinking will happen since EBS are a subsidiary of AIB. So I'll get the free banking for as long as its on offer until EBS pack up and AIB start charging me fees.

EDIT: By that stage Revolut / n26 might have improved their support and are accepted by more service providers. That's my plan at the moment.

_Godot_ · 21-04-2022 2:01pm

I'm with ebs but I don't want to risk being switched to aib, so I applied in the app for a permanent tsb explore account yesterday. They got back to me today and the account was opened. Once I'm out of this hospital, I'll be going to the social welfare and switching my disability payment to my new account, then closing the ebs account.

rodge123 · 21-04-2022 2:01pm

https://www.boards.ie/discussion/comment/118955506#Comment_118955506

Well that’s a pity and rules them out for me in that case, have a call arranged with a broker of theirs tomorrow so will confirm. BOI Green High Value Mortgage is 1.9% without cashback compared to Avants 1.95%

jj880 · 21-04-2022 2:17pm

https://www.boards.ie/discussion/comment/118956377#Comment_118956377

Why do you not "want to risk being switched to aib"?

You got a mortgage with them or something? Higher fees than tsb?

KBC exiting Ireland

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