Check how to close a Revolut account in Ireland and what to do before starting the process. Also, check an alternative for managing your money.
If you’re a customer of KBC Bank Ireland you may be aware that they’re making moves to exit the Irish market this year. From the 1st of June 2022, KBC will begin issuing customers with a notice that gives them 90 days to close their KBC current account and move on to another provider.¹
In this guide we’ll take a look at what you need to do to close your KBC account anytime between now and the end of your notice period. We’ll also see how Wise could play a part in how you receive and manage your money moving forwards.
Before you go ahead and close your KBC Current Account you will need to make sure the account is empty with zero balance.²
You’ll also need to take care of anything that relies on the account, which could include some of the following:
- Direct debit payments
- Automatic transfers
- Mortgage repayments
- Attached subscription services
- Employment or pension payments
At this stage, a KBC account can only be closed through a written request. To close your KBC current account, you’ll need to write a letter requesting that the bank close it.² The letter should then be sent to:
KBC Bank Ireland
Sandwith Street Dublin 2
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With Wise you can open a multi currency account that allows you to convert and hold more than 40 currencies in a single account. Through it, you can get local account details for some of the world’s major currencies including EUR, GBP, USD and AUD.
The account has no monthly maintenance fees and any money you convert is exchanged at the real, mid-market exchange rate, just like you see on Google.
To make daily spending easy you can also order a Wise debit card which attaches to the account. It works in 150+ countries around the globe and you’ll have the ability to generate a virtual card as well.
At this stage, you can’t close your KBC account online.² You could keep an eye on their website to see if this changes.
If you have a joint current account with KBC you should be able to close it with a written request from one of the joint holders.²
The main exception is if your account was set up to require the consent of all parties to make major changes, including closure. If this is the case, you should contact KBC to see what needs to be done to close the account.
If you’re thinking of switching from a KBC current account to another Irish bank's current account, you could have the new bank manage the switch for you using the Central Bank of Ireland’s Switching Code process.³
To do this, you need to choose a new provider and speak to them about making a Switcher request.² They’ll tell you what you need to do and KBC will help from their end.
The process for closing a KBC Student Account is the same as a standard current account.²
If you have questions for KBC Ireland about their Irish exit or closing your account you can contact them directly:
- Call on 1800 93 92 44
- Reach out on Facebook or Twitter
- Visit you local hub
- Email them through the KBC website
|Read more: KBC international transfer: Your guide|
Here please put all listed sources in the article above in a text link format:
- KBC - Customer Notice
- KBC - Customer Notice - Current Accounts - Updated 12th April 2022
- CCPC - Switching accounts
- KBC - Contact us
Sources last checked on date: 19 April 2022
This publication is provided for general information purposes only and is not intended to cover every aspect of the topics with which it deals. It is not intended to amount to advice on which you should rely. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content in this publication. The information in this publication does not constitute legal, tax or other professional advice from Wise Payments Limited or its affiliates. Prior results do not guarantee a similar outcome. We make no representations, warranties or guarantees, whether express or implied, that the content in the publication is accurate, complete or up to date.
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