Minister for Agriculture, Food and the Marine Charlie McConalogue has urged farmers to inform his department about changes to their banking details.
Both Ulster Bank and KBC are planning to leave the Irish banking market. However, of the 12,000 farmers who receive scheme payments through these banks, 6,000 are yet to notify the Department of Agriculture, Food and the Marine that they have changed banks.
The vast majority of the affected farmers are with Ulster Bank. Of all department customers, less than 50 are with KBC.
The minister has asked the affected farmers to contact the department “as soon as possible” with their new account details to ensure uninterrupted receipt of payments.
“My department has actively engaged with farmers that have had scheme payments issued into these two banks.
“Between March and August of this year, my department communicated by letter and text with some 12,000 farmers that had received payments into Ulster Bank and KBC accounts during 2020 and 2021, and those who still had these accounts registered with the department,” the minster said.
Farmers were advised how to access the necessary payment mandate form which was enclosed in these letters, and which is also available on the department’s website.
“In early September, as part of a general letter advising farmers of expected scheme payment dates, farmers were once again reminded of the need to notify the department when they change the account into which they wish to receive payments,” Minister McConalogue commented.
“There is no need to wait until their Ulster Bank or KBC account is closed.”
In late-September after the announcement of the most recent payments under the Areas of Natural Constraint (ANC) Scheme, 4,800 individual payments were made to Ulster Bank or KBC accounts, compared to around 10,000 for the same payment run in 2021.
This indicates that almost 50% of farmers who have been using the banks have not yet provided the department with a new account for receipt of payments.