KBC announcement giving customers 90 days to close accounts is irresponsible...

KBC announcement giving customers 90 days to close accounts is irresponsible and ignores their societal obligations says FSU

John O’ Connell, General Secretary of the Financial Services Union (FSU) has described the announcement by KBC Ireland that they are giving customers 90 days to close their current accounts as irresponsible and shows a complete disregard for their customers.

Commenting on the announcement Mr O’Connell said:

“It is clear from all reports that the Banking sector is not ready to deal with the additional workload that will flow from the exit of Ulster Bank and KBC. All the main retail Banks have failed to staff up and make the necessary resources available to ensure that staff and customers are not adversely affected from the exit of Ulster Bank and KBC.

The Governor of the Central Bank of Ireland (CBI) and the Director of Consumer Protection with the CBI are on the record saying that Banks are not in the position they should be regarding their ability to deal with this matter.

Bank customers who wish to switch to a new provider report being given appointments to open accounts months away by the receiving banks.

Yet KBC have ignored all these warnings and put expediency ahead of their social obligations.

Giving customers 90 days to close their account when at the same time it is nearly impossible to get a call answered from any of the main retail Banks demonstrates a complete disregard for their customers.

It is inconceivable that the regulator will not intervene at this stage to ensure that realistic timelines are set and adhered to by both KBC and Ulster Bank.

It is in everyone’s interests that both exits are managed properly. The Competition and Consumer Protection Commission also have a remit to protect customers in situations like this. It is time they publicly involved themselves in this issue and hold the Banks to higher standards of accountability.

Bank branch staff and call centre staff are the public face of the Banks. It is not acceptable they have to deal with the frustrations of the general public due to an ongoing lack of a clear plan and appropriate resources and staff to ensure an orderly transition.

KBC Ireland have a reputation in Ireland of ignoring normal industrial relations procedures. We should not let them ignore their societal obligations also”

ENDS