Ulster Bank and KBC Exit from the Irish Market

Ulster Bank and KBC are set to leave the Irish market over the coming months and have started to write to their customers asking that they find a new bank.

Your Bank of Ireland Life Policy


Ulster Bank and KBC are set to leave the Irish market over the coming months and have started to write to their customers asking that they find a new bank.

If you’re making payments by direct debit:

If you pay premiums to us from an Ulster Bank or KBC account, we need you to provide us with your new bank account details as soon as you have them. It’s important that we are able to continue to collect your premiums on time.

If you are receiving a payment from us:

If we make payments to your Ulster Bank or KBC account, you need to give us your new bank account details as soon as you have them. This to make sure we can continue to pay you on time.

Updating your payment details

We want to make this process as easy as possible for you and have outlined some options you can choose from below.

Important information:

Before updating your new bank details, please ensure:

  • Your new bank account is active
  • Your account is a SEPA bank account*
  • Your Bank of Ireland Life policy is active and you currently pay premiums to your policy
  • The bank account is in the policy owner(s) name

*All EU member states and the United Kingdom are SEPA members.

Online

If you’ve received your letter from us you’ll know that to update your bank details quickly and easily, we’re asking you to visit the New Ireland website. New Ireland Assurance is the provider of all Bank of Ireland Life products and is a member of Bank of Ireland Group.

All you’ll need to update your details are:

  • the details of the website link and your unique PIN number that we included in your letter.
  • Your policy number
  • Your new IBAN number (you can find this on your bank statements or online banking app)

Don’t worry if you haven’t received your letter yet as we’ll be writing to all our customers in the coming weeks.

Please note if you’ve more than one policy, we’ll send you another letter and unique PIN number as you’ll need to update the bank details for each policy separately. The online option is only available to customers who pay premiums to us from KBC or Ulster Bank account.

FOR MORE WAYS TO UPDATE YOUR BANK DETAILS, PLEASE SEE BELOW:

By Phone

The easiest way is to give us a call and we’ll update your details over the phone. Call us on 01 703 9500.


By Email

Simply download a Direct Debit Mandate form and return it to us signed and completed by email. Please select the correct email below:

By Letter

Download our Direct Debit Mandate form and return it to us signed and completed to:
FreePost,
Bank of Ireland Life,
5 – 9 Frederick Street,
Dublin 2
D02 DF29

We’ll update your policy with your new bank account details for you and write to confirm when this is done.

Got a question? Our FAQs may help you answer your questions
FAQS


  • I paid my policy premiums from a KBC/Ulster Bank account. I have recently moved banks and I want to update my policy with my new bank account details. What do I do next?

    If you’ve received your letter from us you’ll know that to update your bank details quickly and easily, we’re asking you to visit the New Ireland website. New Ireland Assurance is the provider for all Bank of Ireland Life products and is a member of Bank of Ireland Group. We’ll update your policy with your new bank account details for you and write to confirm when this is done.

    To update your details, you’ll simply need:

    • The website link details and unique PIN number we included in our recent letter to you. Don’t worry if you haven’t received your letter yet as we’ll be writing to all our customers in the coming weeks.
    • Your policy number
    • Your new IBAN number (you can find this on your bank statements or online banking app)

    Please note if you’ve more than one policy, we’ll send you another letter and unique PIN number as you’ll need to update each policy separately. If you have any difficulty, you can contact us by phone on 01 703 9500 and we’ll be happy to help. Calls may be recorded for training and verification purposes.

    Important information:

    Before updating your new bank details, please ensure:

    • Your new bank account is active
    • Your account is a SEPA bank account
    • Your Bank of Ireland Life policy is active and your currently pay premiums to your policy
    • The bank account is in the policy owner(s) name

    *All EU member states and the United Kingdom are SEPA members.

    The online option is only available to customers who pay premiums to us from KBC or Ulster Bank account.


  • I have more than one policy. When I update my bank details online, does this update automatically for all my policies?

    No. If you’ve more than one policy, we’ll send you another letter and unique PIN number as you’ll need to update each policy separately. Rest assured it’s very quick and easy!


  • Do you accept Revolut or N26 bank accounts?

    Yes, we can accept Revolut & N26 SEPA bank accounts


  • What happens if my next payment to Bank of Ireland Life is due shortly?

    We’d recommend that you wait until we have processed your new bank details before closing your KBC or Ulster Bank account.


  • Will Bank of Ireland Life make sure my data is secure?

    The security of your personal information comes first. For further details on how Bank of Ireland Life processes your personal data please see our Summary Data Privacy Notice.


  • Who can I contact if I’ve questions?

    If you have any questions you can contact us on 01 703 9500 and we’ll be happy to help. Calls may be recorded for training and verification purposes.

    As always, if you need any financial advice please contact a Bank of Ireland Wealth Manager at your local Bank of Ireland branch.

    New Ireland Assurance Company plc trading as Bank of Ireland Life is a member of Bank of Ireland Group.