13% of remaining customers with exiting banks yet to open current account elsewhere

KBC and Ulster Bank are currently in the process of exiting the retail banking market in the Republic of Ireland, forcing hundreds of thousands to use accounts elsewhere.

The survey shows a significant fall in the proportion of customers who were using current accounts with these exiting banks for certain regular payments between November and December. Photo Sasko Lazarov/RollingNews.ie

A new survey showed that 13% of combined remaining customers with Ulster Bank and KBC have yet to open a current account with a different financial services provider.

Meanwhile, 68% of remaining customers have opened a new account or plan to use an existing account with another institution, according to a survey by the Banking and Payments Federation Ireland (BPFI).