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

Mr. Frank Jansen:

To assure the Deputy on the small amounts that remain in customer accounts, we are engaging with customers but they will ultimately have to come and take their money and move it wherever they want to move it. We have an engagement and even an obligation to keep that money safe for customers. We have an agreement with Bank of Ireland that all these small amounts will be transferred at the end of the year, after all current accounts have been closed, to Bank of Ireland so that, even in the long future, customers can still recover even the smallest amounts that the Deputy referred to.

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