ACCLM Restructuring and Outsourcing
- What has happened to ACCBank?
- What does the outsourcing to Asset Services mean?
- Has ACC Loan Management sold its customer loan book to Asset Services?
- When does this change take effect?
- Do I need to make any change to my direct debit repayment?
- Who do I talk to if I have a query on my mortgage or loan after 1 March 2016?
What has happened to ACCBank?
During 2014, ACCBank returned its banking licence and ceased delivering banking services and changed the company name to ACC Loan Management DAC (ACCLM). In addition, all of ACCBank’s business centres were closed to public access. Following the outsourcing of a small portion of ACCLMs loan book to Asset Services in 2014, ACCLM announced in November 2015 that it intended to outsource the management of its remaining portfolio to Asset Services with effect from early in 2016. With effect from 1 March 2016, Asset Services have taken over the day to day management of all ACCLM customer accounts and loan facilities. Learn more about Asset Services >>
ACC Loan Management is a member of the Rabobank Group and the restructuring and outsourcing had no change on the other Rabobank Group business in Ireland. Rabo Ireland DAC (a key partner to the food and agribusiness sector) and RaboDirect (an online savings bank) continue to operate as normal in Ireland. Customers of these entities were not affected by the ACCBank restructuring or outsourcing to Asset Services.
What does the outsourcing to Asset Services mean?
With effect from 1 March 2016, Asset Services have taken over the day to day management of all ACCLM customer accounts and loan facilities. This means that from 1 March 2016, all management of ACCLM account(s) will be undertaken by Asset Services. Asset Services will operate as an agent of ACCLM and will take on all related activities and contacts. Please note that Asset Services will take over maintaining and processing any personal data relevant to those account(s) after 1 March 2016. All outstanding liabilities continue to be owed to ACCLM.
Has ACC Loan Management sold its customer loan book to Asset Services?
No. ACCLM returned its banking licence and ceased delivering banking services in 2014. ACCLM has appointed Asset Services to provide day to day customer and administrative services in relation to customers account(s). All debts, however, remain due and owing to ACC Loan Management and you continue to be responsible to ACC Loan Management for complying with all of your obligations under your account(s). You will continue to benefit from the protection of all applicable regulatory codes such as the Consumer Protection Code.
When does this change take effect?
Asset Services has taken responsibility for the day-to-day servicing of all account(s) from 1 March 2016. Letters have been sent to all relevant customers to advise them of these changes.
Do I need to make any change to my direct debit repayment?
The transfer of servicing to Asset Services does not affect your direct debit repayment arrangements.
Who do I talk to if I have a query on my mortgage or loan after 1 March 2016?
If you want to contact your new case manager, please call Asset Services on LoCall* 1850 708888 (or + 353 1 961 2700 if calling from outside of Ireland) where we are available from Monday to Friday 9am to 5:30pm, excluding Bank Holidays. Alternatively you can write to us at Asset Services, Block C, Maynooth Business Campus, Maynooth, Co. Kildare, W23 F854.