Customers Of Exiting Banks From Ireland Urged To Prepare

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The Department of Social Protection is asking clients that bank with Ulster Bank or KBC Bank to make preparations in good time as both banks intend to leave the Irish Market.

People who obtain a social welfare payment such as Child Benefit or State Pension into an Ulster Bank or KBC Bank account, will need to make arrangements to have the payment paid into another bank, post office or credit union account.

Those with an alternative financial account are asked to use mywelfare.ie to update their details with the Department of Social Protection.

Those who need to open a new account at a financial institution are advised that this may take some time to complete.

To avoid disruption to social welfare payments the Department encourages people affected by the change to update their details before closing their Ulster Bank or KBC Bank account.