# thinking of switching from BoI to ptsb



## TRS30 (27 Mar 2013)

Hi all

Due to becoming disillusioned with BOI bank charges I am going to switch to PTSB. If I switch I will be moving everything;

-Lumps sum deposit
-Regular savings
-2 current account (wife & me)- wages paid directly, visa debit cards & small number of DD's and SO's. 
-1 current account (joint)- paid into each month, 1 debit card, a lot of DD's and laser transactions
-1 account for rental property- 1 DD in and 1 DD out
-Credit Cards (2 on the same account)

We both use online banking a lot to transfer money to other people, in between accounts etc. 

Having read the T&C's for free banking the only account I would be worried about is the rental one as they will not be €3K lodged a quarter or 18 laser transactions. 

Before contacting them I would be interested in people's opinions on them in relation to my banking needs and also in general. 

Thanks.


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## Boyd (27 Mar 2013)

Hi,
I think I replied to you in another thread about TSB! I'm already with them (no connection, just moved from BOI for same reason you mention).

Firstly, fees/charges are only on current accounts......hence you don't necessarily need to move your savings, if you are on good rates with BOI. IMO shop around for the best rates for savings and make a decision based on that. KBC have decent rates for instant access, PTSB have best regular saver  etc. (see deposit best buys thread).

Again credit cards dont need to be moved, I have my credit card with AIB, which I pay off manually from TSB current account. I have no other account with AIB.

You dont mention what type of account the "account for rental" property is so I cant comment on that. More info?

Three current accounts should be moved easily enough, you can do the DD/SO change yourself or you can let PTSB do it for you. I did them myself as I only had two of them and was a bit paranoid they'd mess it up. 

So far so good with them, online is grand, can transfer cash immediately to accounts at home/abroad etc.

Its worth noting that the 18 laser transactions requirement is most likely going to be removed in April based on recent PTSB announcement on fees.

HTH


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## TRS30 (27 Mar 2013)

username123 said:


> Hi,
> I think I replied to you in another thread about TSB! I'm already with them (no connection, just moved from BOI for same reason you mention).
> 
> Firstly, fees/charges are only on current accounts......hence you don't necessarily need to move your savings, if you are on good rates with BOI. IMO shop around for the best rates for savings and make a decision based on that. KBC have decent rates for instant access, PTSB have best regular saver  etc. (see deposit best buys thread).
> ...



Thanks for the comprehensive reply. 

Having looked at the best buys, it seems PTSB have both the best 1 year fixed (need to check again after tomorrow) and regular savings rates so will be moving my savings as well. 

The 'rental' account can be whatever account can accept and pay DD's and is the cheapest!

I always my CC in full the month it is due so was going to move it for easy of being able to use one website to see savings, current a/c's and CC.


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## Sue Ellen (27 Mar 2013)

TRS30 said:


> Thanks for the comprehensive reply.
> 
> Having looked at the best buys, it seems PTSB have both the best 1 year fixed (need to check again after tomorrow) and regular savings rates so will be moving my savings as well.
> 
> ...



I don't think its a good idea to have all your eggs in one basket when one takes into consideration the Ulster Bank situation last year and near miss recently.

Know all the banks have their problems but the info in this post would make me very cautious about moving everything.


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## sulo (27 Mar 2013)

I have been with PTSB - I only have current a/c / mortgage with them.  Have savings elsewhere.

I like their online banking / open24 is very good.
In comparison to my experience with NIB online - I prefer TSB - easier to use!

Thats my tuppence worth.


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## TRS30 (27 Mar 2013)

Sue Ellen said:


> I don't think its a good idea to have all your eggs in one basket when one takes into consideration the Ulster Bank situation last year and near miss recently.
> 
> Know all the banks have their problems but the info in this post would make me very cautious about moving everything.



Are you implying that PTSB are at risk of going bust, imposing a levy on savers etc??



sulo said:


> I have been with PTSB - I only have current a/c / mortgage with them.  Have savings elsewhere.
> 
> I like their online banking / open24 is very good.
> In comparison to my experience with NIB online - I prefer TSB - easier to use!
> ...



Thanks.


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## Sue Ellen (27 Mar 2013)

TRS30 said:


> Are you implying that PTSB are at risk of going bust, imposing a levy on savers etc??
> 
> Thanks.



No I'm not implying anything because at this stage its nearly crystal ball stuff when it comes to the financial world these days.

IMHO its just not a good idea to have everythig in one spot.


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## Sue Ellen (27 Mar 2013)

TRS30 said:


> Are you implying that PTSB are at risk of going bust, imposing a levy on savers etc??
> 
> Thanks.



No I'm not implying anything because at this stage its nearly crystal ball stuff when it comes to the financial world these days.

IMHO its just not a good idea to have everything in one spot.


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## TRS30 (15 Apr 2013)

Just an update.

I switched my current a/c from BOI to PTSB last week. All going well so far, online banking set up, got cards in the post today. The switching process started today so will see how that goes however all good so far.


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