Bank of Ireland has announced that it will employ 420 temporary staff to handle customers opening current accounts with the bank as Ulster Bank and KBC Bank Ireland customers seek new banking service providers in the coming months.
The lender will deploy a total 500 staff to support the opening of current accounts -- the other 80 being redeployed from other roles -- with 350 already in place and the bank now in the process of filling the remaining roles.
Bank of Ireland has also set up an online hub with advice to customers on how to close their existing account, open a new account, transfer direct debits and apply for overdrafts and established a dedicated phone line for account openings.
Other supports put in place include templates for letters to SEPA direct debt originations, payroll change instruction letters to employers, and credit payment redirection forms, and appointment form for customers who need to open an account in person.
The announcement comes after Ulster Bank and KBC, both of which will exist the Irish market this year, laid out their timetables for informing customers of the need to close their accounts with the banks.
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"So far this year we’ve opened 81% more current accounts than the same period last year. We expect that trend to continue over the remainder of this year and into 2023 as the exiting banks roll out their phased approach of contacting customers," said Henry Drummer, director of everyday banking at Bank of Ireland.
“As customers receive letters from their departing bank and consider where to move, I would encourage them to review the practical guides on our website.
"These include details as to what information you need to open an account, and templates for letters to SEPA Direct Debit originators, payroll change instruction letters to employers, and credit payment redirection forms. These are all designed to help consumers navigate the process of changing accounts."
Ulster Bank has begun the process of formally informing customers on a staggered basis, while the Financial Services Union (FSU) has criticised KBC for waiting until June to tell customers they have 90 days to switch banks.
More than 1m customers in Ireland are affected by the closures of Ulster Bank and KBC, and Ireland's remaining lenders are bracing for a flood of new business from prospective customers seeking a new bank.
Drummer added: “The level of change we are seeing is unprecedented in Irish banking. We know that this will be a priority for consumers and businesses over the coming months.
"It will be a priority for us too, and we will work hard to support new customers as best we can as they choose where to bank into the future.”
Photo: Pedestrians walk by the former Bank of Ireland branch in Phibsborough, Dublin. 7 last October. (Pic: Leah Farrell/RollingsNews.ie)
