Joint Committee on Finance, Public Expenditure and Reform and Taoiseach to discuss impact on customers of withdrawal of Ulster Bank and KBC from Irish market

The meeting at 1.30pm in Committee Room 3 of Leinster House will be split into two sessions.

• 1.30pm-3pm – Representatives of Ulster Bank and KBC.
• 3pm-4.30pm – Representatives of AIB, Bank of Ireland, Permanent TSB, and the Banking and Payments Federation of Ireland.

Speaking ahead of the meeting, Committee Cathaoirleach Deputy John McGuinness said: “The impending withdrawal of Ulster Bank and KBC from Ireland is causing considerable stress to customers of both banks as they look to move their accounts and business to the other banks. The Committee is concerned by the impact this is having on customers, in particular, problems getting appointments with the other banks to set up new accounts and banking facilities, and worries around what happens with millions of direct debits if they are not transferred in time.

“Members welcome this timely update from the banks and the Payments Federation. The Committee looks forward to hearing from Ulster Bank and KBC what they are doing to help their customers move their accounts, and from AIB, Bank of Ireland and PTSB on their efforts to facilitate people wishing to open new accounts and move their direct debits and other business to their new banks.”

The Joint Committee on Finance, Public Expenditure and Reform and Taoiseach has 13 Members, nine from the Dáil and four from the Seanad.

The meeting in Committee Room 3 can be viewed live on Oireachtas TV.

Committee proceedings can also be viewed on the Houses of the Oireachtas Smartphone App, available for Apple and Android devices.