Rabo to shut down ACC Bank Banking Operations

ACC bank says it's withdrawing from "standard banking" to focus on debt recovery.

180 of the 470 staff to be let go.

All deposits will be repaid.

This follows news news that ACCBank's online banking was been shut down.

Hardly surprising news and it was coming for some time.

0.8 BN of deposits will need to find a new home. For those affected, the deposit best buys are here.

ACCBank is the 8th deposit brand name removed since the 2008 crisis. Bank of Scotland Ireland, Halifax, Anglo Irish Bank, Nationwide Building Society, Northern Rock, PostBank and First Active been the others. I don't think ACCBank will be the last.

RTE now have a story on this here.

I remember having a SSIA with them - ah yes the good old days!