KBC Bank Ireland plc
Sandwith Street.
Dublin 2. Ireland
Private & Confidential
23'd October 2023
Customer Number
This letter has important information about a Deposit and/or Savings Account(s) you previously held with KBC. If you have any questions or need additional support to understand this letter, we have included contact details below.
Dear MugsGame,
We are writing to you regarding a variable rate Deposit and/or Savings Account(s) you previously held with KBC Bank Ireland plc ('KBC'). As you may. be aware a variable rate is one that can be changed by a bank from time to time. While your account was open with KBC and where there were changes to your variable rate we notified you through advertisements in National Press, on our website kbc.ie, through the KBC digital App and on your annual statement in line with the terms and conditions of the account.
In light of a decision by the Financial Services and Pension Ombudsman and the High Court, KBC completed a review of the channels we used to notify customers of variable rate changes. We have concluded that the channels used may not have been of the standard expected, A direct communication to customers in advance of rate changes would have been an appropriate addition in bringing this important information to your attention.
What does this mean for me?
In recognition of the fact that while we did publish these variable rate changes via the channels outlined above, we did not provide you with a direct communication in advance of rate changes we would like to make a once off goodwill payment of €50.00 to you. A cheque for this goodwill payment is included with this letter.
Please note that KBC is under no obligation to provide this goodwill payment.
What action do I need to take?
As you will be aware, KBC have begun an orderly exit from the Irish Market so we would encourage you to lodge this cheque to your bank account at your earliest convenience.
Should you not cash this cheque within 6 months of the issue date stated on the cheque we will instead donate this amount to one of our designated charities'. After this date if you have any questions, you can contact us in relation to your payment.
Who can I speak to?
We apologise for any inconvenience caused. You can find more information and frequently asked questions on kbc.ie. You can get in touch with us by emailing
[email protected]. To talk to our Customer Service Team, phone 1800 93 92 44 our opening hours are available on kbc.ie.
If you require information on making a complaint or how we process your personal data when your account is closed you can find out more on kbc.ie.
If you need specialist assistance or additional support, please phone our Care Team on 1800 80 44 72. Lines are open Monday to Friday from 9am to 5.15pm or email
[email protected].
Yours sincerely,
The KBC Team
*The designated charities are Alone, The Irish Cancer Society, St. Vincent De Paul, The Alzheimer's Society of Ireland, AslAm, LauraLynn, ISPCC, Jigsaw, Irish Motor Neuron Disease Association and Irish Heart Foundation.
