More than 68,000 personal current accounts opened in the four weeks ending 5 August.
As the Irish banking market adjusts to the impending departures of KBC and Ulster Bank, some 365,000 personal current accounts have been opened to date in 2022.
The latest account opening figures published today by Banking & Payments Federation Ireland (BPFI) show 68,000 personal current accounts (PCAs) were opened by the main retails banks, post offices and credit unions in the four weeks ending 5 August.
“BPFI members have now opened 365,000 PCAs so far this year, that’s an average about 11,800 PCAs opened each week in the year to date”
The BPFI recently opened a website movingaccount.ie where customers can get step-by-step guides on how to switch account and manage other services such as direct debits, standing orders, overdrafts and card payments.
“Our latest monthly figures show continued strong activity in terms of the numbers of personal current accounts being opened across the three remaining banks as well as by An Post and the credit unions,” said Brian Hayes, CEO of BPFI.
“And while we’ve seen a slight slowdown in July with about 68,000 PCAs (personal current accounts) opened in the four weeks ending 5 August, down from 71,000 in the previous four weeks, this is not unexpected given this is a period during which many customers will have been taking their summer holidays.”
“In total BPFI members have now opened 365,000 PCAs so far this year, that’s an average about 11,800 PCAs opened each week in the year to date. As September approaches and the holiday period comes to an end BPFI and its members will continue to drive additional information and awareness campaigns for consumers and businesses.
“We are encouraging anyone who is going through this process to visit our website movingaccount.ie where they can find a wealth of in-depth information and advice including a step-by-step guide on how to move or switch an account and how to manage other services such as direct debits, standing orders, overdrafts and card payments,” Hayes said.