Only 220,000 bank customers have switched as Ulster and KBC prepare to shut million accounts

People in Ireland have reported difficulties in getting appointments for switching from the departing banks, including difficulties in doing it online. Stock picture

Just 220,000 new personal accounts have been opened so far this year, despite the impending closure of around one million bank accounts in the coming months due to the departures of Ulster Bank and KBC from the Irish market, new figures show.

According to figures released by Banking and Payments Federation Ireland, under a quarter of a million new personal accounts have been opened by the three main retail banks so far this year — AIB, Bank of Ireland, and Permanent TSB — as consumers are forced to switch in numbers never seen before in the Irish banking system.