Danske moves to clarify Irish account closures

Dankse Bank said today it was concerned by “inaccurate reports” regarding the closure of its Irish retail arm.

As part of its withdrawal from the Irish market, the Danish bank is closing a tranche of customer accounts this weekend.

The closure affects about 8,000 customers with single current or savings accounts, the bank said.

However, it said some 6,000 of these accounts have had no transactions in the past month and were considered inactive.

The bank said debit or ATM cards linked to accounts closing this weekend would remain operable until Monday.

Beyond that date, customers can withdraw their funds by contacting the bank who will issue a bank draft or facilitate the transfer of funds to other banks, it added.

In its statement, the bank said it was concerned at an inaccurate report in today’s Irish Independent regarding the closure of accounts that it was moving to reassure customers regarding the correct timelines and process.

It said that while its customer helplines remain open the high volume of queries arising from the article was hindering its ability to speak directly to customers

Customers involved in the first phase of its wind-down who only hold a credit card with Danske have until March 7th to move to another provider, the bank said.

Customers holding multiple products with the bank were written to in December informing them they have until February 21st to close or switch their accounts.

Customers with credit cards in this phase have until March 21st to move to another provider.

The bank said customers with accounts including mortgages or custody accounts have not yet been written to and do not need to take any action until they receive their letter.

“These facilities remain fully operational. These customers will receive two months notice of current or savings account closures,” Danske said.

Permanent TSB said today it would take "special steps" to facilitate customers of Danske Bank whose current accounts will be frozen from this weekend.

Permanent TSB said today it had agreed to open accounts for affected Danske Bank customers from Monday and to make up €500 available to those who cannot access their funds.

The funds will be repaid by the customer when they move their accounts from Danske Bank to their new Permanent TSB current account, it said.

“To avail of this initiative Danske customers must visit a Permanent TSB branch and produce a current account statement from their Danske Bank account - which demonstrates that their account is in credit,” Permanent TSB said.

Prospective customers must also evidence of their address and photo ID.