Banks agree that more work is needed to help customers move accounts

A roundtable was held today to discuss the large-scale migration of customer accounts ahead of the exit of KBC and Ulster Bank from the market

The need for a more collaborative approach with agreed timelines across all of the institutions was discussed, as was a more inclusive system-wide approach to the consolidation.

Better planning and communication are needed to help customers migrate their bank accounts ahead of the imminent exits of Ulster Bank and KBC from the Irish market, according to the Central Bank.

A roundtable was held earlier today between the regulator and the CEOs of the five main retail banks to discuss the large-scale migration of customer accounts.