Large number of people yet to close Ulster Bank and KBC bank accounts

A LARGE number of people have yet to close their bank accounts in Ulster Bank and KBC despite the planned pull-out of this country of the two institutions.

The remaining 63 branches of Ulster Bank ceased transactions at the end of March and will close permanently on April 21, as the NatWest-owned lender progresses with plans to exit the Irish market.

Ulster Bank branches set to close by April 21 include Tallaght, Palmerstown, Clondalkin, Liffey Valley, Walkinstown and Terenure.

The pace of customers closing current and deposit accounts at the two departing banks has slowed down, according to Central Bank figures.

Some 167,988 current accounts remained open in Ulster Bank and KBC Bank at the end of March, the regulator said.

More than 60,000 of these were deemed by the banks as the primary accounts of the customers. This means the accounts were being used to receive salary payments or pensions and pay out bills such as mortgages or rent.

Just 85 per cent of current accounts that were open at the beginning of 2022 were either closed or inactive as at the end of March.

This is despite repeatedly warnings from the two banks that those who do not close their accounts who find themselves locked out of them.

Since the start of this month Ulster Bank stopped customers being able to carry out in-branch transactions, other than those related to account closures.

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