Just a week after An Post are reported to be gearing up to take on the banks’ hold on current accounts, KBC Bank have announced current account changes coming down the track that will certainly please the consumer.
Their present offering allows free standing orders, free direct debits and free debit cards. There is a quarterly fee of € 6 and 30c on ATM transactions.
The new current account will be completely free of charge – no maintenance or transaction charges plus retention of the existing features plus along with free banking, those who open the new account will also be able to opt for a bonus of 2pc on the new Extra regulator saver account. This means the annualised rate on this deposit account rises to 4pc.
Customers who sign up for the Extra current account can also get a 2pc discount on personal loans, avoid fees for setting up an overdraft, and get cash rewards on grocery and online purchases for a short period when they open a credit card account.
They also qualify for a discount on their variable mortgage rate on the new current account. If you are borrowing 50% or less with KBC Bank, you would qualify for the lowest standard variable rate on the market at 3.25%. Email me for details jlowe@moneydoctor.ie