KPC and Ulster Bank have urged customers to set up new bank accounts ahead of their imminent closures.
Both banks have announced their phased withdrawal from Ireland and began limiting operations in 2022. Most of KPCs banking hubs will shut this March, while Ulster Bank expects to cease all transactions at the end of the same month.
A survey carried out by the Banking and Payments Federation Ireland showed that 68% of people had already made the switch to another bank, while an additional 17 % planned to close their account without replacing it. Activity levels for exiting banks have also drastically fallen in recent months.
