According to the most recent figures from the Banking and Payments Federation of Ireland (BPFI), between January 1 and July 8, its members opened almost 297,000 personal current accounts.
Every week, on average, 11,000 new personal current accounts were created.
Through June and throughout the first part of July, the opening rate increased.
In the four weeks that ended on July 8, almost 71,000 personal current accounts were opened, up from 56,000 in the previous four weeks and more than twice as many as in the four weeks that ended on April 15.
According to the statistics, current account holders at Ulster Bank and KBC are following advise to switch financial institutions in order to prevent losing access to banking services.
Customers of Ulster Bank and KBC have been invited to take action in the upcoming months by the Competition and Consumer Protection Commission (CCPC).
Next year, KBC and Ulster Bank will stop doing business in Ireland.
A spokeswoman for the BPFI said the figures show customers from the exiting banks are “taking action” and choosing to open current accounts with new providers.
The data is based on information collection by BPFI from AIB, Bank of Ireland, permanent TSB, An Post Money, CUSOP and Payac.
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