Switching customers can now apply for checking account, credit card and overdraft in one online application

Launched a new multi-product application to further streamline account opening on current accounts and credit products such as credit cards and overdrafts.

Customers opening a current account can now request an overdraft and a credit card simultaneously

Bank of Ireland opened the same number of personal current accounts in the first six months of 2022 as in the whole of 2021

With an exceptional number of consumers in Ireland are currently moving banks, Bank of Ireland introduced a single multi-product application form to further support those taking the plunge.

For many people, changing banks means more than changing current accounts. Credit products such as credit cards and overdrafts also need to be arranged. Now, for the first time in ROI, consumers can apply for a personal checking account, overdraft and credit card in one online application process.

Previously, to apply for a credit product, such as an overdraft, customers had to deposit their salary into the current account for six months and apply for credit separately. Customers can now simply request an overdraft when opening a current account and validate proof of income via a payslip.

Overdraft requests are then submitted to Central credit verification, credit score and income validation. In the case of credit card applications, proof of income will be required via checking account information or three-month bank statements.

Henry DummerDirector, Day-to-day Banking Services, Bank of Ireland said: “We are opening more personal accounts at any time in our history. In the first half of 2022, we opened the same number of current accounts as in all of 2021, and we continue to look for ways to improve the process.

‘That’s why we have developed our new multi-product request form. Many current account customers will also want to request an overdraft or credit card at the same time. Creating a simple and convenient online process for these customers has been a top priority for us.

“Migrating this number of consumers is a major operational undertaking and there will be challenges along the way. However, we want to make it as easy as possible for customers to set up their accounts with us and also apply for products such as credit cards and overdrafts at the same time.

Customers opening a bank account or applying for a credit product are required to verify their identity and address, in accordance with anti-money laundering (AML) regulations.

To begin the multi-product application process, customers will need to take a photo of the following:

Valid passport or ROI or UK Driver’s license.

Last payslip in case of overdraft request.

A photograph of themselves.

A proof of address, for example a utility bill, such as a gas or electricity bill, or a bank statement.

Proof of PPSN, or if self employed, latest Notice of Assessment/Chapter 4.

A new dedicated online hub “The Big Move” includes a guide for customers on how to close their current account, open a new account and make changes to regular payments.

The Multi-Product Application Form is now available at: Features and Benefits – Personal Current Account – Bank of Ireland

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