COVID-19 - Live updates
In these uncertain times, we are here to help. For the latest news on our services, including any temporary changes to our Branch or Phone Line operations, go to our Services Updates page here.
Friday, 26 June 2020
Deferral of quarterly maintenance and transaction fees
In order to assist customers whose businesses are impacted by the COVID-19 crisis, we have developed a solution to facilitate the deferral of the quarterly maintenance and transaction fees which will be charged to Business Current Accounts on 29th June 2020.
This means that if your business cash flow is negatively impacted due to COVID-19, you can apply to reverse the quarterly fees charged to your Business Current Account on 29th June 2020 and instead spread those fees over three equal instalments payable in December 2020, January and February 2021. Click here for more details on how to apply.
Thursday, 18 June 2020
Deadline for New Payment Break Applications Extended to 30 September
The European Banking Authority (EBA) has extended the application date of payment breaks to 30 September 2020.
Acknowledging the crucial role played by banks in providing financing to businesses and citizens during the ongoing COVID-19 pandemic, this extension gives customers more flexibility when it comes to managing their finances as the situation develops.
You can read the EBA press release here.
Thursday, 28 May 2020
Guide to the COVID-19 Payment Break
Today the Banking & Payments Federation Ireland (BPFI) and their members have published their ‘Guide to the COVID-19 Payment Break’. Customers who have yet to consider the option of taking a payment break are urged to contact their lender as soon as possible to allow enough time to have the payment break applied to their account before the deadline of 30 June. This deadline has been set by the European Banking Authority (EBA).
The guide provides information on payment breaks, including how a payment break will affect your loan, and things to consider when deciding if you need a payment break or to extend your existing payment break. The guide also provides information on what to do if you find you are unable to return to full repayments after taking a payment break.
The BPFI’s ‘Guide to the COVID-19 Payment Break’ is available to download on the BPFI’s website here.