Bank of Ireland is investing more than €2m in a new campaign to woo customers of Ulster Bank and KBC Bank as they wind down their operations in Ireland.
Called the Big Move, the campaign was created by Grey London and Oliver Ireland and will be rolled out across TV, radio, print, outdoor, digital and social media.
According to the bank, it has opened double the number of personal current accounts compared to the same period last year following the decision of the two banks to leave the market.
Bank of Ireland’s new dedicated online hub, which has been set up to help people switch, includes a guide for customers on how to close their existing current account, open a new account, make changes to regular payments, and apply for credit products such as overdrafts. Templates for letters to SEPA Direct Debit originators, payroll change instruction letters to employers, and credit payment redirection forms have also been developed to help consumers navigate the process.
“Last month we announced a range of additional resources to support those moving banks, and we are now adding to this with a comprehensive consumer awareness campaign to provide further guidance. Ireland has never seen this level of account switching, which is a major logistical issue for consumers as well as banks, utility companies, Government Departments, and the wider business community. It’s a serious challenge and it requires serious investment and resources. Bank of Ireland has moved swiftly to put a range of supports in place for consumers and our ‘Big Move’ campaign will now guide people towards those supports,” says Gavin Kelly, CEO of Retail Ireland, Bank of Ireland.