Oireachtas Joint and Select Committees

Wednesday, 19 October 2022

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach

Withdrawal from Irish Banking Market (Resumed): Engagement with Ulster Bank and KBC Ireland

Photo of Neale RichmondNeale Richmond (Dublin Rathdown, Fine Gael) | Oireachtas source

Mr. Lennon has answered my question about direct debits before I got to ask it so I will move on. I will ask the following of both institutions. Engagement with utility companies and third parties in the whole area of direct debit switching is something that has come up quite a bit. While people may have switched their accounts, they are having difficulty switching over their direct debits with various utility companies, which I will not name. What engagement have the banks had with the utility companies and other entities over direct debits? How can we speed up the process? It is one thing to move an account but if a direct debit does not move over, as Deputy Doherty alluded to, that is where the difficulties arise.

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