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 John McGuinnessJohn McGuinness (Carlow-Kilkenny, Fianna Fail) | Oireachtas source

It appears not to be simple and it is becoming a considerable issue. Deputies Doherty and Durkan mentioned that they have direct debits and payments going through their accounts. There is nothing wrong, except that this the process is completely new. My experience having spoken to a number of banks is that they do not really want politically exposed persons, because the Central Bank will ask for that information first and foremost when the banks are examined. We have become a breed of political animal that no one wants to own.

Will Ulster Bank and KBC Bank confirm that those customers who are marginalised for one reason or another and are finding it hard to cope with the dates, such as elderly people, will be treated fairly? I ask that the banks reach out to them to make sure that they are covered in their transfer from either one of your banks to the new bank.

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