Banking customers are to be targeted in an information campaign to support them as the deal with moving financial accounts due to the withdrawal of Ulster Bank and KBC Bank from the Irish Market.
Some 222,000 new personal current accounts have been opened this year in the remaining banks serving the Irish Market.
The Banking Payments Federation of Ireland and the five retail banks will launch a public information and awareness campaign, which aims to provide advice to personal and business bank customers who need to switch banks.
Consumers can also consult a website ‘movingaccount.ie’ to find a step-by-step guide on how to switch account, and how to manage other services such as direct debits, standing orders, overdrafts and card payments.
The Financial Services Union and the Central Bank have both called on the Banks to do more to support customers to move accounts securely and in adequate time.
Customers have reported delays of 6 – 10 weeks in getting an appointment to begin the process.