Danske Bank Pulling the Plug on Ireland

Danske Bank (formerly NIB / National Irish Bank ) have announced they are no longer accepting new personal banking customers . They will not be offering mortgages , loans , current accounts or savings accounts to new customers as from 1st November 2013.

All existing current/deposit account customers will eventually have their accounts closed and all funds returned to them. Danske bank say they will give 2 months notice of closure – but any current account customers might want to start the switching process soon.  See our page about Current Account Fees in Ireland Compared to help you decide on the best bank for you.  Our list of the best rates on deposit accounts may also be useful.

Mortgages and Loans:  Danske Bank say there will be no change to existing customer’s  mortgage arrangements or loan repayments.  The outstanding amounts will continue to be repaid within the existing agreed terms and conditions. They will be writing directly to all customers in the coming weeks to confirm this position.

Writing on The Wall

It was never looking promising for Danske Bank personal customers when the bank rebranded from National Irish Bank in 2012 and announced they were moving “from being a traditional retail bank to a specialised bank focusing on corporate and private clients while at the same time offering a competitive and efficient online and telephone service to personal customers

This came soon after they announced the closure of all their 27 branches in 2012.