# Feedback needed on KBC bank.



## MFK (14 Mar 2012)

I notice that KBC are top of the list on best buys for fixed term deposits. I dont know anything about them and would appreciate any feedback as I am currently considering something in the 12 to 18mth bracket and would be happier to go for a lower rate if it was the safer option.

Thanks
MFK


----------



## MFK (16 Mar 2012)

Just wondering if anyone has any comments good or bad based on their experience of dealing with them.


----------



## uptomyeyesin (16 Mar 2012)

Hi,
I use KBC for a mortgage and have usually found them fine to deal with, handle requests quickly. I have also just recently signed up for 10 months of overpayments which was easy to setup and agree with them. 
I once had a disagreement where they delayed sending out forms to go to a fixed rate for 2 years, in the meantime the rate increased and they honoured the original lower rate as they had a record of my call to customer service. 
So for me - no issues dealing with them over the last 5 years for mortgage or now a new savings deal.


----------



## cavanMan (19 Mar 2012)

Very good bank hassle free and good customer service.


----------



## gbh2930 (20 Mar 2012)

According to bonkers.ie, current bank credit ratings are: 
RaboDirect is AA
Nationwide UK (Ireland) is A+, 
National Irish Bank is A, 
Ulster Bank is A-, 
*KBC is BBB+, *
Bank of Ireland is BB+
Permanent TSB is BB+
AIB is BB


----------



## theresa1 (22 Mar 2012)

They seem to have taken over with best buys from AIB Direct and of course we dont have Northern Rock anymore.


----------



## Tintagel (23 Jul 2012)

This is taken from their parent banks financial statement. It looks a bit worrying? How can these people pay the highest rate available in Ireland?

​_On 2 January 2012, KBC repaid a first tranche of 500 million euros in respect of the YES (Yield Enhanced Securities) to the Belgian Federal Government, plus a 15% penalty. We are continuing our efforts to ensure that the 4.7 billion euros in state aid (before any penalty) is reimbursed by the end of 2013, as set out in the European plan _

_ 
_


----------



## Lightning (24 Jul 2012)

Tintagel said:


> This is taken from their parent banks financial statement. It looks a bit worrying? How can these people pay the highest rate available in Ireland?
> 
> ​_On 2 January 2012, KBC repaid a first tranche of 500 million euros in respect of the YES (Yield Enhanced Securities) to the Belgian Federal Government, plus a 15% penalty. We are continuing our efforts to ensure that the 4.7 billion euros in state aid (before any penalty) is reimbursed by the end of 2013, as set out in the European plan _
> 
> ...



RBS (Ulster), BoI, AIB, KBC PTSB, IBRC all have massive state aid. At least KBC are repaying the state aid.


----------



## Tintagel (24 Jul 2012)

CiaranT said:


> RBS (Ulster), BoI, AIB, KBC PTSB, IBRC all have massive state aid. At least KBC are repaying the state aid.


 
They have to come up with €4.7 billion by the end of 2013. They have also had to pay a penalty on their last payment. Looking at their reduced profits for last year I do not think they have a snowballs chance in hell of paying this state aid back by the end of the year.
Maybe they are paying over 4% to Irish depositors to get in enough cash to pay back the Belgian government.


----------



## rf1980 (24 Jul 2012)

Have used them for some term deposits. No problems. Only issue is they do not seem to have online banking, otherwise the rates and good.


----------



## mercman (24 Jul 2012)

Tintagel said:


> they are paying over 4% to Irish depositors to get in enough cash to pay back the Belgian government.



If you're looking to pick flaws you are certainly not doing a very good job. KBC are an enormous Bank. Sure they did run into problems a number of years ago but show me a Bank that didn't !! 

Maybe you should take a look at their balance sheet and then form an opinion. But to find fault with an institution because they are offering the best deposit rates is a bit wide of the mark. OP and others, it's your money so do as you please, but please stop criticizing without a real reason. 

I've no connection with KBC but am a borrower and frankly although have had some problems, find them an honest set up.


----------



## Tintagel (25 Jul 2012)

Taken from their Financial Statement. Their final paragraph states that they are committed to their customer base in Central and Eastern Europe.

The main special item having an impact on the underlying result for 1Q2012 was: 
• *[FONT=Arial,Arial][FONT=Arial,Arial]Ireland *[/FONT][/FONT]The Irish economy weakened in late 2011 and is expected to remain challenging in 2012. Consumer sentiment, business sentiment and spending were all hit by the poorer global backdrop and ongoing severe austerity measures taken in Ireland itself. As a consequence, a loan loss provision of 195 million euros was recorded in 1Q2012. 

_Our focus firmly remains on catering for our customer base in our core markets in *Belgium and Central and* *Eastern Europe*.
_


----------



## Kimmagegirl (25 Jul 2012)

rf1980 said:


> Have used them for some term deposits. No problems. Only issue is they do not seem to have online banking, otherwise the rates and good.


 
Just because they have a nice shopfront and brochure and offer a high interest rate doesn't mean much. You really need to have a look at the fundamentals of the business and as a previous poster suggested their financial accounts.


----------



## SlurrySlump (13 Aug 2012)

Here are a couple of extracts from KBC's latest Q2 statement. The full text can be read from their parent banks website. 


​The IFRS-based net result reported for the quarter under review came to a net loss of 539 million euros, compared with a net profit of 380 million euros in the previous quarter and 333 million euros in the year-earlier quarter. This means the group has generated a total net loss of 160 million euros for the first six months of 2012, as opposed to a net profit of 1 154 million euros for the corresponding period of 2011. 
 


The main special item having an impact on the underlying result for 2Q2012 was: 
• *[FONT=Arial,Arial][FONT=Arial,Arial]Ireland *[/FONT][/FONT]Recent economic indicators point towards resilience in Irish exports, continuing strength in the pipeline of FDI and progress in reducing the deficit in public finances. These developments have been reflected in continuing positive assessments by the EU/IMF. While residential mortgage arrears continue to deteriorate, the pace of deterioration has slowed markedly compared to 2011, which is also positively impacting NPL trends. There are tentative early signs of house prices stabilising, but local confidence remains fragile. Commercial collateral values continue to suffer as all Irish banks deleverage in an illiquid market. As a consequence, a loan loss provision of 136 million euros was recorded in 2Q2012. We estimate that full-year impairment charges at KBC Bank Ireland will end up between 500 and 600 million


----------



## SlurrySlump (13 Aug 2012)

mercman said:


> If you're looking to pick flaws you are certainly not doing a very good job. KBC are an enormous Bank.


 
Enormous means nothing.

I see from their latest financial reports they are trying to offload a number of businesses.


----------



## mercman (13 Aug 2012)

SlurrySlump said:


> Enormous means nothing.
> I see from their latest financial reports they are trying to offload a number of businesses.



It actually means quite a bit in this country, especially as the National Banks are defunct. We should be thankful that they are still here.

As for offloading a number of their businesses why not ? They are going through the same reorganisation as most of the Financial system throughout Europe. 

Don't get me wrong, i'm no big fan. But they just know how to conduct themselves a bit better than what we're used to here.


----------



## BOXtheFOX (25 Sep 2012)

I opened a joint account with them a month ago. The other day my wife got a phone call from a market research company looking for feedback on our dealings with KBC. Why is KBC giving our ex directory and names to a market research company?


----------



## Lightning (25 Sep 2012)

Ring KBC and ask to opt-out of marketing.


----------



## Joeythecat (12 Nov 2012)

*KBC delay payments etc*

They did the same to me - delayed a request for a fixed term and then by the time they got round to it rates had gone up!  They are awful to deal with I think, they always delay things in order to hold on to the money longer - we are doing up an old cottage and they always ask for more information - then lose it - then deny ever getting it (even though it was sent recorded delivery) - by which time, two months or so have passed and they have held on to the sum longer.  Terrible customer service.  Would love to leave them and curse the broker who ever told me this was a good idea - go to a normal high street bank - at least then you can camp out in a branch whenever things go wrong.  Avoid these cowboys at all costs


----------



## Joeythecat (12 Nov 2012)

I had the same experience with them delaying things on more than 4 occasions - don't trust them one bit.  Would love to, and I am, looking to take the mortgage elsewhere. Terrible company all round.


----------



## rf1980 (12 Nov 2012)

Use them for some savings bonds - best rates out there. They are fine - just need to get their act together with internet banking (hear it is coming soon).


----------



## Lightning (12 Nov 2012)

KBC currently have read-only internet banking.

KBC are introducing secure login cards and the ability to do some types of transfers online shortly.


----------



## leroy67 (12 Nov 2012)

Ultimately name a bank that hasn't struggled over the last few years and hasn't had a complaint about customer service, All Irish Banks are State owned with the exception of BOI which is 15% state. If you want the highest the highest interest rate go for KBC if you want strength go for Rabo. Personally speaking I would have as much confidence placing my monies with KBC as I would with any of the other institutions.


----------



## mercman (12 Nov 2012)

But they have made some massive mistakes. And continue to do so. When they are found out they wriggle and wriggle and try and place all the blame on the customer. Pathetic really.


----------



## leroy67 (13 Nov 2012)

Dont disagree mercman but that's banks for you


----------



## mercman (13 Nov 2012)

leroy67, but with all the major reinvention of the Finance industry in this country, surely the time has come for Banks to be penalised where wrong has been committed.


----------



## bugler (14 Nov 2012)

CiaranT said:


> KBC currently have read-only internet banking.
> 
> KBC are introducing secure login cards and the ability to do some types of transfers online shortly.



I am a relatively new KBC customer and have not been offered nor heard of *any *form of online banking, bar snippets relating to "trials" that I am not involved in. Every time I make a transfer I get a confirmation of it posted out to me. 

EDIT: I see they seem to be taking registration for online banking now on their site.


----------



## leroy67 (14 Nov 2012)

mercman, reinvention I'm still smiling, whats changed in banking?? Same clique still in place and still no one being held accountable for their past errors. if we were in US someone would have been jailed.


----------



## mercman (15 Nov 2012)

leroy67 said:


> if we were in US someone would have been jailed.



No No, if we were in the US they all would have been jailed.


----------



## DMcL1971 (15 Nov 2012)

Bugler,

You can register for their online banking from their main web page. I have been using it for a few months. Currently all you can do is view your transactions. If you want to make a transfer you still have to send them a letter. Every time money is lodged or withdrawn from an account you still receive a letter even after you have registered for online banking. The online banking seems to take a few days to update though. I lodge money on the first of every month but the website doesn't update until about the third of fourth of the month (The lodgement date is correctly entered as the first, it just doesn't show online for a while). 

As already mentioned in this thread they appear to be adding some more online services in the next month or two. It is not clear exactly what these will be.

In the few months I have been saving with them I have found them very efficient and helpful on the phone.


----------



## theresa1 (31 Jul 2013)

http://www.irishtimes.com/business/...-a-rainy-day-in-the-current-climate-1.1471525

In my opinion this article gives the impression the KBC Bank guarantee is with Belgium rather than Ireland.


----------



## callybags (31 Jul 2013)

It's very badly written.

I presume they come under our governments guarantee of up to €100,000 as they are regulated by the Central Bank.


----------



## DublinTexas (31 Jul 2013)

callybags said:


> It's very badly written.
> 
> I presume they come under our governments guarantee of up to €100,000 as they are regulated by the Central Bank.



KBC Ireland is an Irish bank "regulated" by the Central Bank and under the Irish Deposit Guarantee Scheme.


----------



## corkking (16 Dec 2014)

*reliable KBC????????*

While KBC give good rates their reliability is somewhat questionable. Twice now I have tried to withdraw money from my account and have been told it'll be in my current account by a certain day but still 2 days after that named day there is no money in my account. This has been due to staff error. Once I'll understand but 2nd time is too many times. Coincidently I was talking to a broker as well and she said she has had the same type of experience with KBC. Only reason they (the brokers) use them for their rates. So using KBC comes with a warning don't expect them to do what they say when they say. You may have to hunt them to do their job but it will be done eventually.


----------



## MrEarl (17 Dec 2014)

Hello,

I've recently become a customer .... deposit rates are good and their branch in Lr. Baggot Street is a delight to deal with.

That said, I see them going (in part) the same direction as BoSI/Hallifax went several years ago with their "partial" retail banking and this makes me nervous.

On a single product basis, deposit rates are good and there's service with a smile over on Lr. Baggot Street (so long may it last ).


----------



## Bronte (17 Dec 2014)

MrEarl said:


> their branch in Lr. Baggot Street is a delight to deal with.
> 
> and there's service with a smile over on Lr. Baggot Street (so long may it last ).


 
Same experience for me here, I finally feel like a valued customer, an actual person and not a num ber, not sure if they are like that in Ireland but I'm VERY impressed.


----------



## Tintagel (17 Dec 2014)

I tried to add some additional monies to a fixed term account that was due to rollover. A number of days before it was due to mature I left a cheque with them, giving them plenty of time to deal with this. They made a complete mess of the instruction. They rolled over the original amount, then a day later made an additional lodgement of the new monies. I never received any confirmation of the new amount/term etc. Several phone calls later and it was eventually sorted. I won't be doing that again.


----------

