Ulster Bank and KBC Are Leaving the Irish Market

Posted by on 7th October 2022


Ulster Bank and KBC Are Leaving the Irish Market Due to Ulster Bank and KBC’s plans to leave the market, almost a million customers have been looking for new banks and switching their accounts 

People are worried about how much trouble it could cause in the banking industry if many people change their bank accounts at once 

Here is a list of some ways to secure unsecured loans on the Linked Finance website with ease:  

  1. Speak to a representative of Linked Finance who can review your business needs. Our team can help you understand your borrowing options and find the best finance options to suit your needs. 
  2. For loans over up to €150,000 you just need to supply 3 documents such as two years’ filed accounts, 6 months’ bank statements and a tax clearance certificate. 

Linked Finance may occasionally request additional information, such as management accounts or proof of contracts, to support your loan application but this is will depend on the amount and duration you are applying for.

Here is a list of some ways to secure unsecured loans on the Linked Finance website with ease: 

  1. Speak to a representative of Linked Finance who can review your business needs. Our team can help you understand your borrowing options and find the best finance options to suit your needs. 
  2. For loans over up to €150,000 you just need to supply 3 documents such as two years’ filed accounts, 6 months’ bank statements and a tax clearance certificate. 

Linked Finance may occasionally request additional information, such as management accounts or proof of contracts, to support your loan application but this is will depend on the amount and duration you are applying for. Transition words: Only 28.8% of the sentences contain transition words, which is not enough. Use more of them.

Ulster Bank and KBC Are Leaving the Irish Market

 

 

KBC and Ulster Bank customers have six months to switch current account providers.

The previous month shows that 24% of the current and deposit accounts opened at the start of the year in Ulster Bank and KBC Bank had been closed. The data also reveals that the number of accounts closed has increased recently, and they will be leaving soon by October.

Even if your bank hasn’t sent you a letter yet, you should still start thinking about what you want from your new current account. If you switch earlier, you can avoid a rush of customers who might try to open an account at the last minute. 

What this means for the Irish market?

The decision by these two banks to leave the Irish market is a surprise, as both of them had been vocal supporters of the country’s economic recovery. 

 

It is uncertain how this will affect the Irish economy, as Ulster Bank and KBC have been major players in the country’s banking sector. However, this move could lead to increased competition among the remaining banks in Ireland. It could help to drive down prices for consumers.

How will it affect business loans?

The closures will have a major impact on businesses across Ireland, with many now struggling to find an affordable source of finance. The Linked Finance group aimed to provide affordable credit products to small businesses and is here to stay. Their platform offers low APR rates and access to funding from multiple lenders, making them a viable option for companies of all sizes. 

While there is still some uncertainty surrounding the future of Ireland’s banking sector, these groups are working hard to provide solutions for those affected by the closures.

How to get a business loan?

Business owners who use Ulster Bank or KBC for business finance will have to switch to a new provider. This leaves many small businesses in Ireland facing seeking alternatives.

 

Linked Finance is one of the best options as they are leading in the financial industry. Linked Finance offers unsecured business loans up to €500,000. Since we began trading in 2013 Linked Finance has funded over €200 Million in business loans. From working capital, stocking loans to business expansion we have provided fast simple finance to Irish SMEs. Our application process is quick and easy with fast drawdown at competitive rates. 

What can you do to help?

Here is a list of some ways to secure unsecured loans on the Linked Finance website with ease: 

 

  1. Speak to a representative of Linked Finance who can review your business needs. Our team can help you understand your borrowing options and find the best finance options to suit your needs. 
  2. For loans over up to €150,000 you just need to supply 3 documents such as two years’ filed accounts, 6 months’ bank statements and a tax clearance certificate. 

Linked Finance may occasionally request additional information, such as management accounts or proof of contracts, to support your loan application but this is will depend on the amount and duration you are applying for.

Conclusion

Don’t fear getting finance because Linked Finance is here to help, and they’re here to stay. Linked Finance has been helping small businesses finance their dreams for over a decade. In August 2022 We hit €200 Milion in approved business loans to 3,300 Irish SMEs all across Ireland.  

We have also expanded our products to provide more options such as the Merchant Cash and Advance and Billpay.   

Keep your business moving forward

With fast and flexible financing from Linked Finance.

Business Loans but Different

A Better Way to Borrow for Your Business

Linked Finance connects great local businesses who need loans with thousands of individual lenders. This is about using technology to bring business lending back to basics; real people with savings lending to great local businesses at attractive interest rates. Businesses get the funds they need to grow, lenders make a fair return. Everybody wins!

If you need a loan to grow your business, talk to Linked Finance

  • You get a same-day credit decision.
  • You can borrow up to €500,000.
  • No early repayment penalties.
  • A friendly, no-hassle approach.
  • Promote your business.
  • Win new customers as part of the process.

 

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