What is happening?
Ulster Bank and KBC bank have confirmed they will be exiting the Irish market in early 2023.
Both banks will be communicating with their customers to advise when their 6-month notice period to amend their bank details begins.
Revolut has announced that all customers in Ireland will be issued with new Irish IBANs. Revolut will replace these old Lithuanian IBANs in the next two months, with customers being notified when their IBAN has been migrated.
What is the impact for customers?
Energia customers will need to amend their bank account details before the end of their 6-month notice period as advised by their bank. Otherwise, there is a risk Direct Debit payments to Energia may fail after the 6-month notice period.
Energia customers with a Revolut account will need to update their old IBAN, once they have received a new Irish IBAN.
What do I need to do?
You can update your bank account details for Direct Debit payments with Energia here.
Please note: If you have more than one account with Energia, you must change the bank account details for each account, for example, a dual fuel customer must change their bank account details for their electricity and gas accounts separately on Energy Online.
What type of bank account do I need?
Please ensure your new bank account allows you to set up a direct debit with Energia.
What if I have already completed the Switching form?
If you have already completed the CBOI Switching Code form to change all your Direct Debit payments over to your new bank account, this information will be sent to Energia. However, we strongly advise that you avail of our online service to amend your bank account details. This will help you avoid any processing delays and ensure your details have updated in time to prevent any disruption to your payments.
To log into your Energy Online account, please click here.
For more information on the Ulster Bank / KBC market exit, please see the following useful links below:
Personal Banking | Savings and Mortgages - KBC Bank - KBC
Switching your Personal Bank Account to another provider - Banking & Payments Federation Ireland (bpfi.ie)