KBC exiting Ireland

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...