Denmark-based Danske Bank is all set to close its current account service in Ireland, a decision that would affect 15,000 customers.
The move by Danske Bank, which was originally revealed on 31 October 2013, includes discontinuing its Personal Banking operations in Ireland and withdrawal of day to day personal customer products and services.
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Of the total customers, around 10,000 members, who are yet to set up a new account with another bank, may not be able to access their money from the bank due to closure of the service.
Danske Bank spokeswoman said where a customer has not yet taken action, and their accounts will be terminated on February 7 in accordance with the terms of the account.
Danske Bank was quoted by Irish Independent as saying that it was closing the current accounts from 7 February 2014 but it later conceded that it would allow these customers to use their debit/ATM cards until 9 February.
As most of the Danske members are switching to Permanent TSB, the TSB is offering 500 to each customer who has signed up to switch from Danske.
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By GlobalDataBut the amount is set to transfer on a date in late February, raising concerns among customers that their funds and accounts would be frozen before the switch.
Banking sources accused Danske for handling the account closure process too hastily. However, Danske said they gave two months notice to customers with current and saving accounts about the closure with a deadline of 7 February 2014 for the first tranche of terminations.
