# What is the best alternative to PermanentTSB - EBS?



## TestLink (2 Feb 2019)

*I am with PTSB - Current account. As per the letter I got yesterday PTSB would be charging 18 euro quarterly if 2500 euro is not maintained every day. I wont be able to maintain this amount all the time.

What is the cheapest alternative - EBS? Any disadvantage in switching to EBS? No bills would be paid from this account. Just shopping + ATM cash withdrawal.   

What other current account offers the best value for money even if has to pay a small monthly/yearly amount?*


----------



## cream1 (2 Feb 2019)

Same as yourself, I'm going with KBC. I'm also moving my regular saver to them, good rate with this at the mo. Very easily done & been excellent to deal with so far


----------



## TestLink (2 Feb 2019)

cream1 said:


> Same as yourself, I'm going with KBC. I'm also moving my regular saver to them, good rate with this at the mo. Very easily done & been excellent to deal with so far



How would you compare KBC with EBS?


----------



## cream1 (2 Feb 2019)

I can get free banking with the KBC extra once u deposit €2500 & approx 2% on regular saver. Looked better than EBS


----------



## Lightning (2 Feb 2019)

Again, PTSB customers, who are subject to these charges, are best off simply asking PTSB to switch their current account type to PTSB Explore. PTSB Explore costs 4 EUR per month but has a debit card rebate of up to 5 EUR per month or more if you are a Sky customer.


----------



## TestLink (2 Feb 2019)

I am not with sky. So explore account is of no use to me.


----------



## Khublei (3 Feb 2019)

I'm in the same boat. Trying to weigh up options. I like having a branch nearby so KBC will probably be out for me. I get cash and cheques every now and then. EBS is probably the best option.


----------



## TestLink (8 Feb 2019)

Was interested in switching to EBS as they have zero charges. Handed over all the relevant docs to one of the EBS branches this Monday. No reply yet on my application. Also at the branch there were only two staff dealing with every thing. So bit reluctant at the moment to go EBS way due to their customer service.

Might go to AIB as they have good customer service eventhough  Euro 2500 must be there in every quarter.

Any one on the same boat?


----------



## Boyd (8 Feb 2019)

I have the EBS free account, IMO you get what you pay for. It has very basic online access, you can't see any direct debits or standing orders, nor can you add or amend any. There is no mobile app as far as I know. Also, the debit card I have from EBS is not contact-less. I don't use the account day to day, its purely for bills.


----------



## TestLink (8 Feb 2019)

So most probably I would go to AIB


----------



## TestLink (9 Feb 2019)

username123 said:


> I have the EBS free account, IMO you get what you pay for. It has very basic online access, you can't see any direct debits or standing orders, nor can you add or amend any. There is no mobile app as far as I know. Also, the debit card I have from EBS is not contact-less. I don't use the account day to day, its purely for bills.



Hi username123, How do you rate EBS customer support? Can you do all the normal banking operations with EBS?

Can you transfer money to other Irish and Non Irish bank acounts? Cn you pay bills from EBS current account?


----------



## Boyd (9 Feb 2019)

TestLink said:


> So most probably I would go to AIB


Why bother, they have the a minimum balance requirement also, as far as I know.

re: EBS, I have never deal with EBS customer support. As I said, I dont use the account day to day. I got it as part of my EBS mortgage 2 years ago and we setup all our for shared bills from it. I dont use it for groceries, I don't use it for personal daily use. The fact that the card is not contactless is a downer for that. The only thing I use it for is petrol, which is about once every 2 weeks.

You can transfer money to Irish payees definitely, I never tried non-Irish ones. However, the online banking is definitely a number of steps down from PTSB and AIB. It feels cumbersome, and as a heavy online user, I wouldnt have it as my main current account being honest. However, if its free banking with no conditions, you are after, then it does what it says on the tin, its no frill and no cost. Depends what is your main criteria, low cost or rich online functionality.


----------



## PaddyBloggit (9 Feb 2019)

Any possibilities of An Post going down the ATM route? I'd move from my bank straight away if that option was available.


----------



## Lightning (10 Feb 2019)

An Post already offer a current account service called Smart Account. It is expensive and has got some very bad reviews.


----------



## Ryan (15 Feb 2019)

Would go to KBC only for that they don't handle cash.


----------



## HollowKnight (15 Feb 2019)

Ryan said:


> Would go to KBC only for that they don't handle cash.


I've been with KBC for the last two years - have not needed cash services in that time.


----------



## Ryan (15 Feb 2019)

HollowKnight said:


> I've been with KBC for the last two years - have not needed cash services in that time.


I could use the credit union but that would make accessing the funds difficult


----------



## TestLink (15 Feb 2019)

Is EBS ok for normal day to day banking?

I would be using the EBS card for ATM cash withdrawals, grocery shopping, online purchases etc. Would EBS charge me for this ie. switching from PTSB to EBS make any difference.


----------



## theresa1 (15 Feb 2019)

EBS Money Manager is totally FREE. If you have a smartphone you could get a Revolut basic account and this would give you a Visa debit contactless card with a great mobile app.

You can just top up from your EBS account. EBS is a great FREE option and more people should move to them but us Irish would prefer to keep complaining and take no action and make excuses etc. for not moving.

When BOI years ago changed fee's with Current Account I was gone straight away to PTSB.


----------



## TestLink (16 Feb 2019)

theresa1 said:


> EBS Money Manager is totally FREE. If you have a smartphone you could get a Revolut basic account and this would give you a Visa debit contactless card with a great mobile app.
> 
> You can just top up from your EBS account. EBS is a great FREE option and more people should move to them but us Irish would prefer to keep complaining and take no action and make excuses etc. for not moving.
> 
> When BOI years ago changed fee's with Current Account I was gone straight away to PTSB.



Thanks ...

I was using skrill, but they started charging 1% transaction fee.

I recently got revolut card, but havent used it yet.

Would I be able to use Revolut in EU and Non EU countries with out any charge? 

Also can I use it to purchase online, pay in shops like Aldi / Tesco/ Lidl etc?


----------



## RedOnion (16 Feb 2019)

TestLink said:


> Would I be able to use Revolut in EU and Non EU countries with out any charge?
> 
> Also can I use it to purchase online, pay in shops like Aldi / Tesco/ Lidl etc?


Yes, to both.

However, there is a limit on ATM transactions, so best to avoid cash. Currently 200 euro per month - above that they charge you.

Which is fair enough - they get charged by the bank that owns the ATM.

There are extensive threads on Revolut if you take a look.


----------



## money_man (17 Feb 2019)

I got this letter as well. I already have an N26 account open. I think I will just move all my banking to this. Small effort in contacting the 3/4 companies I have direct debits with. After that I'm hoping it will be plain sailing!

I was going to go with AIB as the mortgage is with them. But the wife would be charged for her account so better off us both having N26 accounts so we can easily send money to each other.


----------



## Zebedee (17 Feb 2019)

Been with both Revolut and N26 for a few months now. So far so good although I have not done anything complex yet (eg dds) or needed customer services. From on line reviews the latter seem to be a bit problematic for both.


----------



## The Oggster (18 Feb 2019)

Zebedee said:


> Been with both Revolut and N26 for a few months now. So far so good although I have not done anything complex yet (eg dds) or needed customer services. From on line reviews the latter seem to be a bit problematic for both.


I'm using both and no problems so far. Closing Ulsterbank current and savings accounts soon. The instant notifications and security settings are great for both. N26 doesn't have am ATM limit amountwise, but does limit it to 5 free withdrawals a month. I use my Revolut card for more or less everything nowadays so would probably only take money out once or twice a month.


----------



## Peanuts (18 Feb 2019)

TestLink said:


> I am not with sky. So explore account is of no use to me.




Not quite true. You get 10c back every time you use your debit card up to a maximum of €5/month. If you have 2 people on the account you wouldn't be long racking up the uses.
The discount for Sky (& others) is separate. The explore option is worth checking out if you already have a PTSB current account (like the OP) as there is no switching involved (just renaming of the account)


----------



## Khublei (18 Feb 2019)

[QUOTE="Peanuts, post: 1601444, member: 76045"The explore option is worth checking out if you already have a PTSB current account (like the OP) as there is no switching involved (just renaming of the account)[/QUOTE]

That might sway me to stay to avoid the hassle. Someone on another message board said you have to close your account and the open a brand new one. I have Revolut and N26 (highly reccommend both!), so just looking for something to have my salary come into and a few DDs come out of. I'm applying for a mortgage soon so it would be good to be able to show a few years of statements.


----------



## theresa1 (28 Feb 2019)

I am on the standard plan and I get free ATM withdrawals up to €200 per month. 2% fee thereafter.

I can spend,transfer and exchange money globally for free up to €6,000 per month. 0.5% fee thereafter

I can use my card for free in over 140 currencies in shops or online.

Bank transer is free and you can use in aldi etc. I use it as my everyday card.


----------



## Niall-1980 (1 Mar 2019)

Is there any huge down side that anyone can think of for having the 2,500 sitting in the current account?. Its not as if there is money to be made on this amount in a deposit account anymore.


----------



## MrEarl (1 Mar 2019)

PaddyBloggit said:


> Any possibilities of An Post going down the ATM route? I'd move from my bank straight away if that option was available.



I doubt half the people in An Post even know what ATM stands for, not alone anything more.

The financial institutions are trying to move us to a cashless society anyway, so ATMs seem to be disappearing rather than appearing imho.


----------



## MrEarl (1 Mar 2019)

Niall-1980 said:


> Is there any huge down side that anyone can think of for having the 2,500 sitting in the current account?. Its not as if there is money to be made on this amount in a deposit account anymore.



Hi,

Off the top of my head ....

Risk of a fraudster taking it (via internet banking, scamming your debit card etc.) ?
Are current accounts covered by the deposit guarantee scheme ?
Opportunity cost (in terms of other things you could have done with the money, rather than leave it in your current account) ?


----------



## PaddyBloggit (1 Mar 2019)

MrEarl said:


> I doubt half the people in An Post even know what ATM stands for, not alone anything more.
> 
> The financial institutions are trying to move us to a cashless society anyway, so ATMs seem to be disappearing rather than appearing imho.



I looked into An Post after my post but found that their charges for holding a current account are multiples of what the banks charge so that makes it a non-runner in that respect.


----------

