Notice of Changes to Current Account Terms & Conditions
3 September, 2025We are making some changes to your Current Account and Debit Card Terms and Conditions. Please find a copy of the updated document for view/download – Click here.
Summary of the changes to the Current Account terms and conditions and where to find them:
SEPA Instant Payments and Verification of Payee (VOP)
From the 9th of October 2025 you can send and receive funds to your Current Account in under 10 seconds via our online services or in branch. We are also introducing Verification of Payee (VOP). VOP is a new security measure to ensure that your funds are sent to the intended recipient. When making payments you will be prompted to carry out a check to identify if the name of the payee you are paying matches the IBAN before you send the SEPA Payment. Clauses 5, 10, 13, 14, 15 and 16 have been updated to reflect these changes.
Making our documents more accessible
In line with the European Accessibility Act 2025 (EEA), we are committed to making our services more accessible to all and the updated documents meet the European Accessibility Act requirements.
Other Updates
• We have expanded our Definitions to provide further clarity and include ‘SEPA Instant Credit Transfer’ and “Verification of Payee’.
• Reference to “Mastercard” has been replaced with reference to “Card Scheme” to cover both “Mastercard” and “Visa”.
• We have updated the account usage to enable us to offer “sole trader” accounts in the future.
• We have updated the time it takes to clear cheques lodged to your account from “up to 5 Business Days” to “up to 10 Business Days”.
• We have updated Clause 61 Ending this Agreement and Interruption to services to include we may cease the account “if you are not resident in the Republic of Ireland”.
• We have clarified how we handle payments made in error and your responsibilities in such cases.
• We have updated clause 28.2 to reflect the process that will allow you to compare charges for currency conversions.
• We have also revised our Fees and charges brochure. There has been no change to our Fees and Charges, the document was updated similar to the Terms and Conditions to remove reference to “Mastercard” and replace with reference to “Card Scheme” to cover both “Mastercard” and “Visa”. We have also moved the requirements for the Student and Over 66’s concessions to the Current Account and Debit Card Terms and Conditions from the old Fees and Charges brochure. To view the updated Fees and Charges leaflet click here.
If we do not hear from you by the 05/11/2025, we will take it that you are satisfied with the changes to your Current Account Terms and Conditions, if you are not satisfied with the amendments, you are free to close your account in line with the terms and conditions.
If you have any questions please phone one of our friendly staff on 053 9233835.