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KBC due to report 'significant decline' in account activity following exit from Irish market

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TDs are due to hear from both KBC and Ulster Bank later today.

THERE HAS BEEN a “significant decline” in activity across KBC current accounts as the bank prepares to leave the Irish market, TDs are to hear today.

TDs and Senators will hear that there are approximately 26,000 KBC customers who need to open a new account with a different provider as they were not part of the transfer deal with Bank of Ireland. “Another key indicator of declining activity is the level of social welfare payments paid into current accounts, that has decreased by 75%, with just 3,200 accounts remaining in receipt of payments.”

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