A further 68,000 personal current accounts were opened with Irish banks in the four weeks to 5 August as Ulster Bank and KBC Bank Ireland customers continued their exodus, according to the latest Banking & Payments Federation Ireland (BPFI) figures.

There have now been 365,000 personal current accounts opened with the retail banks, An Post Money, and credit union using CUSOP and Payac payment services so far in 2020 after a slight slowdown in the number of account openings month-on-month.

Brian Hayes, CEO of the BPFI, said: “Our latest monthly figures show continued strong activity in terms of the numbers of personal current accounts being opened across the three remaining banks as well as by An Post and the credit unions.

"And while we’ve seen a slight slowdown in July with about 68,000 PCAs opened in the four weeks ending 5 August, down from 71,000 in the previous four weeks, this is not unexpected given this is a period during which many customers will have been taking their summer holidays.”

“In total BPFI members have now opened 365,000 PCAs so far this year, that’s an average about 11,800 PCAs  opened each week in the year to date."

In Association with

Hayes said the banks would continue to drive additional information and awareness campaigns for consumers and businesses as we come into September.

"We are encouraging anyone who is going through this process to visit our website movingaccount.ie where they can find a wealth of in-depth information and advice including a step-by-step guide on how to move or switch an account and how to manage other services such as direct debits, standing orders, overdrafts and card payments," he concluded.

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