Oireachtas Joint and Select Committees
Wednesday, 18 May 2022
Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach
Withdrawal from Irish Banking Market: Engagement with Ulster Bank and KBC Ireland
Gerald Nash (Louth, Labour) | Oireachtas source
I have a general question on the account migration process. KBC has told the committee it expects that process to be completed in 14 months. That is the timeline on which it is operating. What happens to a KBC current account that has not migrated by the time it finally exits and completes its withdrawal? What happens to legacy accounts? If there are accounts that have not migrated to another financial institution, what happens to the money in those accounts?
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