KBC Enter Current Account Market (Details Revealed)

ang1170 said:
How they expect to get 10% market share, when there is a more competitive product already out there (PTSB), is beyond me.
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Ditto. You only get big market share by price leading not price lagging. KBC are either delusional or telling marketing porkies to the Irish Times.

I suspect KBC will be forced to revise their current account pricing in the near future when they see the lack of interest.
 
How can they get it so wrong? I'm sure setting up this new product means plenty of man hours have gone into it already, so without some customers it'll just be throwing money away by the bank. They have no chance of gaining even 1% market share with that offering...remember most people have never even heard of KBC bank, despite their long presence in Ireland.
 
I just got the promotional leaflet in the post from KBC about their new current account product.

There was no mention anywhere about their account maintenance fees and no mention of their ATM fees. They just use the word "free" over and over again without giving the real details of their product.

The information in the leaflet has the real potential to mislead consumers. If your going to get into details about a banking product, you need to be give the full picture, sadly KBC skirt around the details.
 
Is there anywhere on KBC website that mentions the 6EUR charge per quarter? I know it is included in Irish Times article but as Theresa points out above the article we know has one error relating to Bank of Ireland.

I can only find press release below:
[broken link removed]

Pretty awful launch IMO if this is it. Surely, they should have better information about how you can switch. They have all this publicity, anyone who is interested in switching and logs on to website and there is no information.
 
Renter7 said:
Is there anywhere on KBC website that mentions the 6EUR charge per quarter? I know it is included in Irish Times article but as Theresa points out above the article we know has one error relating to Bank of Ireland.

I can only find press release below:
[broken link removed]

Pretty awful launch IMO if this is it. Surely, they should have better information about how you can switch. They have all this publicity, anyone who is interested in switching and logs on to website and there is no information.
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KBC are skirting around the details with their marketing.

The 6 EUR charge is confirmed in the NCA comparison.
 
KBC have launched 2 new accounts today. Details here and here.

You can only open these accounts if you also open a current account. The 1 year 3 months account has an impressive rate or be it with the KBC fees attached.
 
Renter7 said:
Is it just me or is has the quality of Irish Times deteriorated significantly in the last year or so?
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totally agree. the quality of their reporting has dropped significantly - not to mention their response to that totally incorrect abortion story a few weeks ago.
 
Irish "journalism" often entails simply copy & pasting press releases. Dreadful indeed.

KBC must be either really stupid or really clever. I haven't quite decided what yet.
 
KBC have updated their website with the details. Not sure what to make of it, am currently with AIB so seriously considering switching (can't use PTSB)

[broken link removed]

[broken link removed]
 
tml said:
KBC have updated their website with the details. Not sure what to make of it, am currently with AIB so seriously considering switching (can't use PTSB)
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Why can't you use PTSB? EBS and Ulster Bank also offer avoidable fees.
 
I have a personal loan and credit card on reduced repayments with PTSB so MABS advised me not to have my wages going into an account with a bank I owe money to.
 
If one wants to lodge money into a KBC current account how do they do it? Can you lodge cash in branches or is it via An Post like with Danske? Thanks.
 
Wig said:
If one wants to lodge money into a KBC current account how do they do it? Can you lodge cash in branches or is it via An Post like with Danske? Thanks.
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KBC do not allow customers lodge cash into their current accounts. The only Irish current account product that does not offer cash services. Another reason to go elsewhere.
 
So, its been a few weeks since the KBC current account was launched. Has anyone actually opened one with them yet?

If so, what is it like? Was it easy to open, did switching go smoothly, what is the online banking like, any difficulty setting up EFTs, DD's or standing orders?
 
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