Ulster Bank and KBC account closures jump in February

Banks still have 227,694 current accounts that remain open, of which 80,335 were said to be the customer’s primary account

KBC and Ulster Bank still have over 227,000 currents accounts open. Picture: Denis Minihane

Account closures at KBC Bank and Ulster Bank accelerated in February as the two companies continued to wind down their operations in Ireland.

Central Bank statistics show 185,176 current and deposit accounts with the two banks were closed in the four weeks up to the end of February. This is a 164% increase compared to the same period in January, when 81,799 accounts were closed.