KBC exiting Ireland

My interpretation is that they will honour any fixed rates currently on your mortgage, but once that period is over, in you case in a couple of years, you'll be offered whatever BOI have to offer at that time.

I suspect this line is to stop people who request a fixed rate, but don't complete the paperwork before the transfer to BOI happens, in that case you'd be offered whatever BOI rates there are.

Hrm, PTSB will actually do a mortgage low enough for me to move (the other specific KBC/UB exit deals all had minimums that were more than my balance). Must do the sums on that based on assuming the BOI rates could be nearer 4 by the time my current 2.25% expires.

Got my letter today finally outlining my new fixed mortgage rate. The letter was dated on the 14th of September, so took a full month to get sent out.

2.85% for 10 Years. I had also looked for a reduction in term to match which I rang about a few times, but was told today that has been applied also (reducing from 22 years to 10). So my new rate and term is 2.85% fixed for 10 years. I wanted certainty and I think 2.85% fixed for the remainder of my mortgage is good.

The net result is I won't be subject to any rate movement whims of BOI.

I didn't get any cashback this month so it looks to be over, I should have gotten the credit yesterday.

I intend to have it paid down in ~4 years (there's only a bit over 7 left, that wouldn't be a substantial change); but I'll call to ask about rate options now.

edit: I've got over a year longer than I thought on the fixed so I may just try a bit of a sack-cloth and try pay the entire lot off when that expires.

Savings Accounts being transferred to BOI

I got a letter today from KBC telling me that my savings account would automatically transfer to BOI in the coming months, unless I chose to transfer my funds elsewhere.

I’m after opening a new current account with PTSB & am doing all my day to day banking with them, but am just wondering if I let KBC transfer my savings to BOI would I be able to access them (withdraw / lodge funds) without actually opening a BOI current account?

Yes, I have no problem with that, but I just wonder if we’ll have to open a BOI (presumably with fees etc) current account in order to be able to transfer funds in & out of the savings account?

I could be wrong but I don't think banks are allowed make you take other products so you should be able to keep your savings when it transfers but I don't see why you would.

It'll just be harder to access & it's not like any of the banks are giving interest to make a savings account worthwhile.

I'd just close it & open 1 with ptsb.

I have a BOI savings account that allows me to send money to other non BOI accounts, using their mobile app. I don't have a current account with BOI.

I sent them an email with the change of direct debit form attached. They responded pretty quickly but I made sure to have enough money in my KBC account to cover the payment just in case.

I sent them an email the day after my normal payment date and it was changed to my new bank the following month.