Easy steps to switching your personal bank accounts
Step 1: Come and talk to us
Let us know you want to switch accounts and when you want to do this. A member of staff at your local branch will help you choose the right package and take you through the application to open your new bank account(s).
Once your new account is opened our Switching Unit will also be happy to assist you with any queries on switching. You may contact our Switching Unit by phoning 076 62 47518 or 076 62 47516 (LoCall rates apply).
Step 2: Choose the services that are right for you
Consider which current account fee option you would like. Our staff will be happy to advise you to ensure you get the best value. To make your banking experience even more convenient we can also set you up for phone and online banking.
Step 3: Let your old bank know your plans
Complete an 'account switch' form (this can be found in our switch pack "Switching your personal bank accounts made easy" available from any Bank of Ireland branch).
The 'account switch form' offers you the option to:
- Close your existing account (s) and transfer your balance and all of your active standing orders/direct debits to your new bank
- Only transfer all of your active standing orders and direct debits from your old bank account(s) to your new bank account(s), while leaving your existing account(s) open
A staff member will be happy to help you to complete the form, but please remember to choose the option you require by ticking either A or B and to include the preferred date you want us to send your switch request to your old bank.
Our customer switch team will be in contact with you to help schedule this date. We will also send the completed switch form to your existing branch or bank on your behalf.
Step 4: If appropriate, let people know you are switching
To ensure that payments you receive are lodged to the correct account(s):
- Inform your employer of your new bank account details
- Re-direct any other regular payments into your new account(s) e.g. child benefits or share dividends etc.
You will find two sample letters at the back of the booklet "Switching your personal bank accounts made easy" that will help you with this. This way you can be certain that any payments you receive will be lodged into your new account(s).
Step 5: Ensure that bills or savings still get paid on time
Most of us have direct debits set up to pay our telephone, electricity or gas bills. We will inform these companies (the direct debit originators) of your new account details on your behalf. Your direct debit originators will change your account details immediately after they receive them and will present the next direct debit, when due, on your new account*.
You will receive a list of any existing standing orders or direct debits from your old bank. Check these immediately and let us know if there are any changes you want to make to your standing orders, or if you want to cancel any direct debits.
If you have a Single Euro Payment Area (SEPA) Direct Debit set-up with a Direct Debit originator(s) abroad, you will need to contact this particular Direct Debit originator(s) yourself to advise them of your new account details. You will find a sample letter at the back of the switch pack to help you with this.
* This timeframe only applies to switching current accounts where advance notice of withdrawal or guarantees or other obligations are not required.
Step 6: Ensure you have sufficient funds in both your new and old account(s)
During the switching period, you should ensure there are sufficient funds in both your new and old account(s), to cover any standing orders, direct debits, cheques, ATM or Laser/debit card transactions, plus any fees, charges or interest that may be due on either account.
Step 7: If you have opted to close your old bank account(s)
Any cheques presented on your old account(s) will not be forwarded to your new bank account(s) after the account(s) has closed. They will be returned to the presenting bank unpaid, marked "Account Closed" or "Account Switched" or "Account Transferred". Your old bank may subsequently be obliged to pay cheques you have issued under the Cheque Guarantee Scheme (provided they are within the rules of the Scheme, including the €130 upper limit) and these particular cheques will be passed to your new bank and charged to your new account(s).
Therefore, you should check your cheque stubs against your old bank account(s) to identify any cheques that have not yet been presented for payment. We recommend that you contact the payees of these cheques in order to make other arrangements to pay them and that you retrieve these old cheques from the payees.
Step 8: Tidy up your wallet
If you have opted to close your old account(s), you should return your old ATM/Laser card(s) to your old bank as soon as you receive your new bank card(s). Return any unused cheques to your old bank, as you will be due a refund of Government stamp duty.