Majority of Ulster Bank and KBC customers yet to switch accounts

Consumer watchdog warned of negative consequences to delayed current account switching, such as loan repayment arrears, security risks and a negative personal credit rating

More than half of KBC customers said they would be willing to use an online-only bank such as Revolut or N26 to replace their current account. Picture:

The CCPC has urged KBC and Ulster Bank customers to start the processes required to switch their current accounts and published data indicating that less than half of affected customers have completed the process.

Both KBC and Ulster Bank signalled their intention to leave the Irish market earlier this year and have said they will close customer accounts as the end of 2022.

The majority (65 per cent) of those surveyed by the Competition and ...