Financial Supports

The measures being introduced by the five main banks are as follows:

1. Implement a payment break up to three months for business and personal customers affected by Covid-19, to be followed by ongoing reviews depending on the scale and extent of the situation. Customers wishing to avail of a payment break should contact their respective bank.

2. The banks agree there is a need for a simplified application process to make it as easy as possible for businesses and personal customers impacted by Covid-19 to receive support from their banks.  They are working with all member banks to achieve this.

3. The banks want to ensure that any Covid-19 application for a payment break and further reviews will not adversely impact the customer’s credit record, and the banks reporting of these facilities. Banks want to avoid this and are meeting with the Central Bank of Ireland to urgently achieve a solution in this regard.

4. Banks will also defer court proceedings for three months

Ulster Bank:

•  €500m of Working Capital Support focused on meeting the needs of SMEs.
• Temporary emergency loans with no arrangement fees.
• Capital Repayment Holiday on variable rate lending or a realignment of payments for customers who are seeing short term liquidity pressures.
• Short term overdrafts or an increase/ extension of existing overdraft facilities.

Personal support

 Individual customer circumstances will be considered and options matched on a case-by-case basis. These measures include:

• Mortgage and loan repayment deferral for up to 3 months
• Allowing customers access to fixed-term savings accounts early without breakage fee.
• The option to apply for an increase in overdraft and credit card limit.
• Increased cash withdrawal limit.
• Cash advance fees will be waived for impacted customers that use credit cards to access cash in an emergency

Bank of Ireland

If you are impacted by Covid-19 and you seek a 3-month payment break and if you don’t have a relationship manager, download this form and email to Roickk@boi.com. Otherwise, contact your relationship manager.

• Emergency working capital
• Fast track loans for impacted businesses

KBC

• Payment breaks on mortgages and loans for personal and SME business customers lasting up to 3 months for those impacted by Covid-19.
• Free contactless: in respect of card payments and for people concerned about handling cash payments – across all our personal current accounts all contactless payments are free for domestic and eurozone transactions.
• Digital Wallets: KBC would like to remind customers that it has a range of free contactless ‘tap and go’ payments, offering digital wallets from Apple Pay™, Google Pay™, Fitbit Pay™, Garmin Pay™ and Wena Pay™.
• A dedicated KBC team can be contacted on 1850 93 02 35
• All court processes currently in train will be suspended for a three month period.

Permanent TSB

SME customers can apply for:

• An increase of working capital facilities
• A stocking loan facility
• Priority banking hours for elderly and vulnerable customers from 10.30am to 12pm, Monday to Friday

AIB

• A three-month moratorium for Personal, Business and Home loan customers who have been impacted by COVID-19, to be available from Monday morning March 23rd to all AIB customers who require it.
• Customers thinking of applying for this moratorium should keep a look at www.aib.ie/covid19 for further details.
•  Elderly and vulnerable customers up to 11 am
• Fully pay for partners of healthcare workers who have to stay at home.