# pTSB new regular saver a/c - third party transfers



## damson (14 Dec 2010)

I've just opened a new pTSB online regular saver deposit account (the one listed in the best buys), and was trying to set up my current account in another bank (BoI) as a payee using the "3rd party transfers" facility. It let me put in all the details and texted me an activation code, but when I tried to activate it, it gave an error message. Tried again with a different current account (NIB) but same problem.

The guy on the phone banking was very pleasant but didn't seem to know much about the account: He suggested I take funds out in-branch, whereas the terms of the account specifically state it's online only and you can't do any transactions in-branch, but "can access your money whenever you need to" via open24 online banking.

I don't have a pTSB current a/c to try that out, but there's nothing in the T&Cs to suggest you can only transfer to other pTSB accounts, and it let me access the "third party transfers" option and proceed all the way through to activation (including supplying an activation code) before rejecting the external accounts.

Has anyone successfully set up third party transfers on this account? Any advice?

Thanks.


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## Knuttell (14 Dec 2010)

Funny I had exactly the same issue this morning with open 24,I am almost certain that when I attempted to transfer the money initially it deleted the third  party transfer I had set up,I then tried to reset up this third party transfer just as you did and I got an error msg saying the destination a/c is not set up to accept money,I tried this several times and each time the same.

This however is not a new account it is at lest 2 years old.


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## damson (15 Dec 2010)

Thanks Knuttell. So maybe it's a problem with open24 in general, rather than that a/c? 

Has anyone successfully set up an external (non-pTSB) account on open24 in the last couple of days? Has anyone who did it successfully in the past got a moment to try adding one now?


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## Knuttell (15 Dec 2010)

Tried it again this evening,same message

SORRY, YOUR NEW THIRD PARTY TRANSFER COULD NOT BE CREATED AT THIS TIME - *THIS ACCOUNT TYPE CANNOT ACCEPT TRANSFERS

Must be a glitch of some description...strange though as this effectively stops you transferring money out of PTSB online...meaning you have to visit the branch to do it the old fashioned way.


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## damson (15 Dec 2010)

Thanks Knuttell. That's the same message I was getting. Seems BoI's not the only bank running into problems with their online interface.

However, the problem with the online regular saver is that no in-branch transactions are permitted. So unless I can get it to recognise another account to transfer money to, anything I put into it can't be taken out! Now if I were a conspiracy theorist...!


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## Knuttell (16 Dec 2010)

damson said:


> Now if I were a conspiracy theorist...!



Was thinking the same thing from your initial post.

I would say they must be 
haemorrhaging deposits at some rate,seems a bit too coincidental.


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## Lightning (16 Dec 2010)

Has anyone phoned the Open 24 Helpdesk and escalated this?


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## damson (16 Dec 2010)

Yes - I rang Open24 again and explained what was going on, but the girl told me it was because my account types (a 21 day regular saver and the new online regular saver) didn't permit transfers to third party accounts. I made the point that there was no other way of getting money out of the online a/c and the T&Cs don't say anything about only being able to transfer to another pTSB a/c, but she wouldn't budge. Then I mentioned that 'a friend' (Knuttell!) had an a/c that had previously allowed third party transfers which was giving the same error message and she just stonewalled: They'd have to ring in themselves, but she was sure there was some explanation. To be honest, though, she didn't sound confident in what she was saying, just stubborn.

Knuttell, is your account a current a/c? Or has anyone else a pTSB current a/c who could try adding a third party payee, so we can tell definitively if there's a problem?


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## Knuttell (16 Dec 2010)

damson said:


> Knuttell, is your account a current a/c? Or has anyone else a pTSB current a/c who could try adding a third party payee, so we can tell definitively if there's a problem?



Its called a *Demand deposit a/c*,luckily I had 2 other third party payees set up-all to my other accounts in UB.


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## Lightning (16 Dec 2010)

I will add a note to the best buys indicating that those who this account must also keep another PTSB account open. Crazy situation.


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## DMcL1971 (30 Dec 2010)

damson said:


> I've just opened a new pTSB online regular saver deposit account (the one listed in the best buys), and was trying to set up my current account in another bank (BoI) as a payee using the "3rd party transfers" facility. It let me put in all the details and texted me an activation code, but when I tried to activate it, it gave an error message. Tried again with a different current account (NIB) but same problem.
> 
> The guy on the phone banking was very pleasant but didn't seem to know much about the account: He suggested I take funds out in-branch, whereas the terms of the account specifically state it's online only and you can't do any transactions in-branch, but "can access your money whenever you need to" via open24 online banking.
> 
> ...


 

Damson, 

I was thinking about opening one of these PTSB regular savings accounts also. Did you end up having to open a current account with PTSB in order to allow you to do the third party transfer?


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## DMcL1971 (31 Dec 2010)

I rang PTSB this morning to enquire about this. I explained I wanted to take advantage of the good interest rate (4%) availible on the 'Regular Saver Online Account' but did not want to transfer by day-to-day banking to PTSB or have to open a second account which would attract bank charges, just so I can withdraw my money.

She explained that what I needed to do was open a 'Demand Deposit Account' (like Knuttell has). This is a basic account which has no bank charges on it, allows third party transfers and gives me access to Open24. Then I could log in to Open24 to set up the 'Regular Saver Online Account'.

She said I could transfer money into the Regular Saver account from any account (PTSB or other). If I want to withdraw the money I would have to transfer it from the Regular Saver to the Demand Deposit account and then from there out to my third party account.


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## Lightning (31 Dec 2010)

DMcL1971 said:


> She explained that what I needed to do was open a 'Demand Deposit Account' (like Knuttell has). This is a basic account which has no bank charges on it, allows third party transfers and gives me access to Open24. Then I could log in to Open24 to set up the 'Regular Saver Online Account'.
> 
> She said I could transfer money into the Regular Saver account from any account (PTSB or other). If I want to withdraw the money I would have to transfer it from the Regular Saver to the Demand Deposit account and then from there out to my third party account.


 
Thanks for the tip. I will add this to the product notes in the best buys.


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## damson (4 Jan 2011)

Hi DMcL1971. Sorry I didn't see this until now.
Yes, that is exactly what I ended up having to do. Daft. (And the interest rate on the demand deposit a/c is currently zero!)


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