Danske customers get time to switch

Danske Bank has insisted that even if customers whose accounts are to be closed this weekend do nothing, they will still be able to withdraw any remaining funds as a bank draft or transfer them to a new bank.

Danske, which is withdrawing from retail and business banking in Ireland, wrote to customers before Christmas to inform them their accounts would be closed.

A spokesperson for the bank said up to 8,000 accounts will be closed this weekend, but added that only a quarter of them are active anyway.

“There are 8,000 impacted current account customers in the first tranche. Of this, 6,000 have had no transactions in the past month and are considered inactive. Of the remaining 2,000 accounts, these have had some transactions in the past month.

“For accounts that close this weekend, if a debit or ATM card exists on the account, it will remain operational until Monday. Beyond that date, customers can withdraw their funds by contacting the bank, who will issue a bank draft or facilitate the transfer of funds to another bank as and when requested by the customer.”

As Danske winds down its Irish operation, further tranches of accounts will be shut. Customers with a current account and a savings account have until February 21 to close or switch their accounts, while credit card holders have until March 21.

Permanent TSB is actively trying to lure Danske’s former customers by offering up to €500 to customers who can’t access their funds.

The funds will then be repaid by the customer when they move their accounts from Danske to Permanent TSB.

In Cork, AIB’s branch on South Mall will open on Saturdays to facilitate Danske customers for the next eight weeks.

AIB’s regional director for Cork, John O’Doherty, said: “The staff in all our AIB branches in the county have been assisting customers over the past number of months to switch their accounts and this initiative aims to make the process as smooth as possible.”