# PTSB Increase Current Account Maintenance Fees for some



## Lightning (6 Jul 2017)

According to this posting on the PTSB website, PTSB have increased maintenance fees for legacy current account offerings.

- The website is scant on detail. The new fee is not even mentioned nor is when the new fee applies from!
- There also does not appear to have been a press notice.
- The PTSB Fees and Charges T&C's are dated from 31 March 2017 and do not yet include the new fees.

- The effected products seem to be: (based on their mention in the notice)
Loyalty Current Account
Standard Current Account
Cashline
Merit
Connect
Cashextra
Current Account Plus
Current Account
Cashflow Account
permanent tsb Current Account
Everyday Bank Account

- Uneffected products seem to be:
Student Current Account
Over 60 Current Account (Clearly stated)
Switch Current Account (not mentioned in the notice, so seems to be uneffected, still free banking).
Explore Current Account. (still the same fees).


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## theresa1 (7 Jul 2017)

So we going to charge you but we wont tell you how much yet -only in Ireland!


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## Lightning (7 Jul 2017)

Yeah, the PTSB webpage says that PTSB have posted out the details on the new fees to customers but no information on their website yet which is farcical.


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## Connard (7 Jul 2017)

Damn. I have a loyalty current account with them since I was a kid. I changed over to KBC about 9 months ago but kept the PTSB account for cash lodgements. It looks like I'm closing it now.


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## theresa1 (7 Jul 2017)

Think this is my account with them - permanent tsb Current Account.

I guess the Switch Current account was the one they advertised years ago saying 'free for life' or words to that effect.


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## Lightning (7 Jul 2017)

theresa1 said:


> I guess the Switch Current account was the one they advertised years ago saying 'free for life' or words to that effect.



Correct. The PTSB Switch Current Account product was advertised as free banking for life and PTSB continue to honour that pledge.


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## Connard (7 Jul 2017)

Ok, so I rang PTSB about this and they checked my account and said that they aren't going to be charging fees on this one. He did say it was a loyalty current account as well. This is all very confusing.


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## Lightning (7 Jul 2017)

The PTSB website is now updated to state "we are increasing Maintenance fees on some of our current accounts to €18 per quarter and removing all day to day transaction fees.". 



Connard said:


> so I rang PTSB about this and they checked my account and said that they aren't going to be charging fees on this one. He did say it was a loyalty current account as well. This is all very confusing.



Very confusing. The PTSB website, after talking about the new fee, states: 
"When will the new maintenance fee be taken from my account?
It depends on the account that you have – please see the table below:" and then lists "Loyalty Current Account". 
Whilst it does not directly state that it applies to Loyalty Current Account it implies that it does.


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## DMcL1971 (11 Jul 2017)

On the website it does give a phone number for queries in relation to the new charges 1890 800 900 or 01 212 4076. 

I have the account called "permanenttsb Current". Which allowed a waiver of the quarterly fee of 12, providing you lodged at least 1500 per month. I rang them and they confirmed that the fee waiver for lodging 1500 will continue. So, in future I will be charged 18 instead of 12 if I fail to lodge 1500. But if I do lodge 1500 or more it will continue to be free.


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## theresa1 (11 Jul 2017)

@DMcL1971 -this is excellent news - they really seem to be shooting themselves in the foot with lack of clarity.


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## Frank (21 Jul 2017)

Just got letters today for my account and the joint 

As mentioned clear as mud I must ring next week and try and get some clarity.


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## Lightning (21 Jul 2017)

It is disgraceful that PTSB have introduced new charges to their legacy accounts and not even bothered to update their fees and charges booklet.


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## MrEarl (22 Jul 2017)

CiaranT said:


> Correct. The PTSB Switch Current Account product was advertised as free banking for life and PTSB continue to honour that pledge.



And so they should.  That was a very clear part of the contract when we all switched over to them and they were very greatful to get our business, given how tight they were for cash and the benefits they obtained from daily free cash across all current account balances.  If they ever try to break this promise, I hope they are compelled to compensate everyone.

The fact that the PTSB don't have the skillsets or sometimes the basic "cop on" is not our fault, they've had plenty of time to hire in the right staff and get rid of those not able to do the job properly.  We've paid a high price for the PTSB's shortcomings in other respects, so let them carry the cost of their mistake by offering free current accounts for life is my very clear view.


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## theresa1 (1 Dec 2018)

DMcL1971 said:


> I have the account called "permanenttsb Current". Which allowed a waiver of the quarterly fee of 12, providing you lodged at least 1500 per month. I rang them and they confirmed that the fee waiver for lodging 1500 will continue. So, in future I will be charged 18 instead of 12 if I fail to lodge 1500. But if I do lodge 1500 or more it will continue to be free.



I just realised when putting in my €1500 for December that i forgot to do it for November. The fact that today is a weekend day would you think I would stand any chance off this payment being considered for November? I could do another €1500 later this month.

Basically do they show any leeway? Does anyone know?


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## tomdublin (3 Dec 2018)

6 Euro per month plus all the other fees this bank charges easily add up to 90 Euro per year, which (for those in the higher tax band) equates to 180 Euro pre-tax income delivered yearly to PTSB (and some of the other banks that charge similar fees).   In other words, if switching to one of the free alternatives offered by other banks (e.g. N26) takes 30 minutes of your time, and assuming that you keep your new account for 20 years, you save 3,600 pre-tax Euro which equates to an hourly pre-tax wage of 7,200 Euro.  If the money really doesn't matter to you switch anyway and donate the money saved to charity.  I can think of many causes more deserving than PTSB.


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## MrEarl (9 Dec 2018)

Hi,

There is probably a bit of a debate to be had as to whether or not, having a current account with a "full service" Irish clearing bank, is the same as having a current account with an online internet bank.  

IMHO, there are a couple of potential fringe benefits to having a current account with a "full service" Irish clearing bank, but then I quickly find myself asking whether those fringe benefits are better at some of the other banks, than they are at the PTSB (and concluding that my answer is Yes).

So, in conclusion, if PTSB start charging me for their quite primitive banking services, then I'll be leaving them very quickly.  They've never been much more than a glorified building society, and I don't see them changing anytime soon, so they need to keep in touch with reality when it comes to what they do and what they are entitled to expect payment for.


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## Connard (17 Dec 2018)

MrEarl said:


> Hi,
> 
> There is probably a bit of a debate to be had as to whether or not, having a current account with a "full service" Irish clearing bank, is the same as having a current account with an online internet bank.
> 
> ...



What are the benefits? The only benefit I can think of is being able to lodge cash and cheques with PTSB but you can only do that in a branch so not much good to people who work during their opening hours.


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## MrEarl (10 Jan 2019)

For me, the key benefit isn't actually that ... it's being able to go into a branch, or a local office, and hold someone hostage, if they ever refuse to give me my money


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## Laughahalla (27 Jan 2019)

I received a letter from PTSB saying they will be charging 25 euro per year to provide an overdraft and 18 euro per quarter to maintain the account. No 18 euro charge will be taken if I keep a daily balance in my account of 2500 euro.
I'm expecting a call back on Monday 28th from local branch. To me it's simple. I will not be paying them for something that another bank (kbc) offers for free.
If they insist on charging me these fees I will simply close this account and also move my mortgage . Might not be much to them but they will be losing out on my few thousand euros per year interest.
Silly move from PTSB in my opinion but I'm sure they've done the sums on how many people will still stay with them and how many will leave.
Looks like they've risked losing 1000's of euro in interest on the presumtion i'll will pay the charges.


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## Lightning (27 Jan 2019)

The latest January 2019 announced PTSB changes to legacy products are detailed here. 



Laughahalla said:


> If they insist on charging me these fees I will simply close this account



Why not switch to a PTSB Explore account? PTSB Explore effectively reimburses the fees provided you make reasonable usage of your debit card.


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## tomdublin (27 Jan 2019)

The link states that all current account charges will be standardized (i.e. brought up to the level of the previously most expensive account type) but there will still be four different current accounts. This seems confusing.  Also, it states that customers who want to close their account must make an appointment.


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## kceire (31 Jan 2019)

Laughahalla said:


> I received a letter from PTSB saying they will be charging 25 euro per year to provide an overdraft and 18 euro per quarter to maintain the account. No 18 euro charge will be taken if I keep a daily balance in my account of 2500 euro.
> I'm expecting a call back on Monday 28th from local branch. To me it's simple. I will not be paying them for something that another bank (kbc) offers for free.
> If they insist on charging me these fees I will simply close this account and also move my mortgage . Might not be much to them but they will be losing out on my few thousand euros per year interest.
> Silly move from PTSB in my opinion but I'm sure they've done the sums on how many people will still stay with them and how many will leave.
> Looks like they've risked losing 1000's of euro in interest on the presumtion i'll will pay the charges.



Got the same letter today.
Am currently looking around for options to move.


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## Marobar1 (31 Jan 2019)

Got that letter today too! So if I keep €2,500 in the account every day it's free! Otherwise €18 a quarter.
I'll be switching so, quick look at bonkers tells me EBS have a free current account so I'll be signing up to that!


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## Lightning (31 Jan 2019)

Why not switch to PTSB Explore rather than switch bank?


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## billyclub (31 Jan 2019)

CiaranT said:


> Why not switch to PTSB Explore rather than switch bank?


There's a MONTHLY €4 maintenance charge on the PTSB Explore as far as I can gather.

I'll be looking to switch banks too. This is the end of the line with PTSB for me.
From 1% interest and no maintenance fee if more than €1,500 is lodged monthly. 
To 0.001% interest and QUARTERLY €18 maintenance fee (unless €2,500 is kept in the account every day!)


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## mugsymugsy (31 Jan 2019)

I only moved about 2/3 years ago after the Ulster bank fiasco I guess I'll be moving again. Only joined to have free banking by paying my salary each month into it and don't want to leave 2500 in current account.

Being a bit lazy but anyone got a good comparison link for current accounts to get free banking where you dont have to keep x amount in the account.


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## Lightning (31 Jan 2019)

billyclub said:


> There's a MONTHLY €4 maintenance charge on the PTSB Explore as far as I can gather.



There is a rebate of up to 5 EUR per month @ 10 cent per debit card use. If you pay by card for all your expenses, and you use your card on average at least 1.6 times per day, then you will earn money from this account, as the fee is 4 EUR but the rebate is 5 EUR.


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## Lightning (31 Jan 2019)

mugsymugsy said:


> Being a bit lazy but anyone got a good comparison link for current accounts to get free banking where you dont have to keep x amount in the account.



There is a current account best buy thread here.


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## Tebbit (31 Jan 2019)

I'm just after getting the letter today - keep 2500 in your a/c daily or pay 18 maintenance fee.  I too am gonna move my a/c .  I'll ring them first though to see if it's right.  Any suggestions as to where does free banking?


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## pudds (31 Jan 2019)

Tebbit said:


> I'm just after getting the letter today - keep 2500 in your a/c daily or pay 18 maintenance fee.  I too am gonna move my a/c .  I'll ring them first though to see if it's right.  Any suggestions as to where does free banking?



Friend of mine got it too, from 1.5k passing throughmonthly  to 2.5k sitting there daily, no way, for that reason HE'S OUT   

Have a look at the post above yours for link to best free current account options.


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## messyleo (31 Jan 2019)

Am I missing something? If you have 2.5k in cash, I don't see the big hassle here with keeping it in the account full time?


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## Black_Knight (31 Jan 2019)

gravitygirl said:


> Am I missing something? If you have 2.5k in cash, I don't see the big hassle here with keeping it in the account full time?


Before, having 0 in your account and taking out money meant the bank would charge you. Now, having 2500 in your account and taking out money means the bank will charge you.
And the interest rate went from a crappy 1% to a crappier 0.01%.


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## Black_Knight (31 Jan 2019)

CiaranT said:


> Why not switch to a PTSB Explore account? PTSB Explore effectively reimburses the fees provided you make reasonable usage of your debit card.


10cent on every use, up to €5, and then you're charged €4 a month maintenance. To break even on that €4 is 40 card transactions a month. I barely use my card once a day.


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## messyleo (31 Jan 2019)

Black_Knight said:


> Before, having 0 in your account and taking out money meant the bank would charge you. Now, having 2500 in your account and taking out money means the bank will charge you.
> And the interest rate went from a crappy 1% to a crappier 0.01%.



I guess my point was, a lot of people probably keep 2500 in their current account all the time as an emergency fund etc. anyway?


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## Protocol (31 Jan 2019)

I have a ptsb online savings account paying 0.05% or something like that.

I may as well move 2,500 to the current a/c?

I'll save 72 pa in fees, but lose maybe 1 euro in interest?


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## Boyd (31 Jan 2019)

I understand its annoying, but at the end of the day, its E72 / 365 days is less than 20c a day. Many people wouldn't even bother to bend down and pick 20c up off the ground!


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## netman (1 Feb 2019)

username123 said:


> I understand its annoying, but at the end of the day, its E72 / 365 days is less than 20c a day. Many people wouldn't even bother to bend down and pick 20c up off the ground!


Got the letter today, for me its more about when I signed up PTSB had a free banking for life guarantee that attracted me to them when BOI fees went up which they now seem to have broken. Mortgage, current account and joint acc all with them but definitely considering moving all 3 now.


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## RedOnion (1 Feb 2019)

netman said:


> Mortgage, current account and joint acc all with them but definitely considering moving all 3 now.


You're considering moving your mortgage over 48 euro per year current account fee?
It's probably something you should be considering anyhow, unless you've a tracker rate!
If you've a 200k mortgage, a saving of 0.03% is more than the current account fee.


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## Ryan (1 Feb 2019)

I was quite annoyed when I opened the letter at first but it actually suits me better. Im not working at the moment so I dont have €1500 going into my account but I do have some savings. That said its going to be hard to ensure the balance stays over €2500 at all times.


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## tomdublin (1 Feb 2019)

username123 said:


> I understand its annoying, but at the end of the day, its E72 / 365 days is less than 20c a day. Many people wouldn't even bother to bend down and pick 20c up off the ground!


It's about €145 pre-tax income per year (if you are in the higher tax band), i.e. about €1600 pre-tax income over ten years including interest.  Why would anyone pay that if  they don't have to?


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## Laughahalla (1 Feb 2019)

RedOnion said:


> You're considering moving your mortgage over 48 euro per year current account fee?
> .


I don't condone paying charges for something that can be got free somewhere else.
It's 72 euro for the current a/c + 25 euro for the overdraft facility so Yes , absolutely.  97 euro over 20 years is 1940 euro. Better in my pocket that PTSB

If the bank insists on this then i'll take my mortgage somewhere else.


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## RedOnion (1 Feb 2019)

Laughahalla said:


> I don't condone paying charges for something that can be got free somewhere else.


I completely agree.

However, my point was I'm surprised about people getting up in arms over 48 per annum, when there are much bigger amounts being charged on higher mortgage rates by PTSB.



Laughahalla said:


> It's 72 euro for the current a/c


Everyone has the option to change to the explore account which is 48.



Laughahalla said:


> + 25 euro for the overdraft facility


No bank provides O/D facilities for free.


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## tomdublin (1 Feb 2019)

It's also a matter of principle.  Local banks charge customers for the privilege of taking their money simply because they can.  They know that most customers simply won't notice, are too lethargic to act on it or believe that switching accounts will be too difficult.  Even the PTSB letter seemed designed to obfuscate without falling foul of legal requirements.  Its key message (that a formerly free account will now cost 72 a year) only became evident after a page of waffle and obfuscation.  It looks like it has been written by a team of lawyers, PR experts and cynical psychologists.


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## Laughahalla (1 Feb 2019)

RedOnion said:


> No bank provides O/D facilities for free.



I've opened a KBC current account with no charge for overdraft facility.


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## RedOnion (1 Feb 2019)

Laughahalla said:


> I've opened a KBC current account with no charge for overdraft facility.


They charge as soon as you activate it, and annually thereafter.
If not, you got a special deal outside their published fees and charges.


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## elcato (1 Feb 2019)

Ryan said:


> I was quite annoyed when I opened the letter at first but it actually suits me better. Im not working at the moment so I dont have €1500 going into my account but I do have some savings. That said its going to be hard to ensure the balance stays over €2500 at all times.


So take out two tenners a day or use your card to buy your groceries etc and as long as you make 40 a month you will gain a euro a month.


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## Laughahalla (1 Feb 2019)

elcato said:


> So take out two tenners a day or use your card to buy your groceries etc and as long as you make 40 a month you will gain a euro a month.


This is far too much hassle. Better to go to a bank without charges



RedOnion said:


> They charge as soon as you activate it, and annually thereafter.
> If not, you got a special deal outside their published fees and charges.


Didn't think I had anything special but maybe I do,  I've used for a while and no charges whatsover.


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## Audi_Driver (1 Feb 2019)

Looks like I’ll be moving to EBS.


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## Earl Grey (1 Feb 2019)

Free Banking for over 66 mentioned in Irish Independent Paper today


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## Marobar1 (2 Feb 2019)

Audi_Driver said:


> Looks like I’ll be moving to EBS.


KBC Extra current account appears to be free also once you lodge 2,500 per month, so I think I'll move there, they have a monthly savings account of over 2% too, which is one of the highest around.


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## cream1 (2 Feb 2019)

So true & the letter annoyed me. I'm in the process of moving current & regular savers to KBC. It's very straightforward to move & plenty time to do so.


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## Lightning (2 Feb 2019)

Black_Knight said:


> 10cent on every use, up to €5, and then you're charged €4 a month maintenance. To break even on that €4 is 40 card transactions a month. I barely use my card once a day.



40 card transactions a month is little over 1 a day. You may not have 1 payment per day but the majority of people do. Plus there is the Sky rebate too if you are a Sky customer. 

If you only use your card once a day, you will get a 3 EUR rebate, meaning the account will cost you 1 EUR per month.


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## Lightning (2 Feb 2019)

netman said:


> when I signed up PTSB had a free banking for life guarantee that attracted me to them



PTSB Switch account has a free banking for life guarantee as per advertisements at the time. PTSB Switch is not effected by the changes. 

What other product do you think PTSB advertised free banking for life on?


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## Lightning (2 Feb 2019)

Earl Grey said:


> Free Banking for over 66 mentioned in Irish Independent Paper today



PTSB give free banking to some customers on some products from aged 60+ upwards. 
PTSB give free banking to some customers on some products from aged 66+ upwards. 

If you are aged 60+ it is worth asking if you qualify for this.


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## Laughahalla (2 Feb 2019)

CiaranT said:


> If you only use your card once a day, you will get a 3 EUR rebate, meaning the account will cost you 1 EUR per month.



Why would you even bother thinking this if you didn't have to . Easiest all round to reward the bank with free banking like KBC.


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## billyclub (3 Feb 2019)

The reason for this move, according to PTSB, is to "standardise and simplify our legacy accounts". 

But instead of moving customers to the Explore Account - which would work out cheaper as pointed out above - they are being moved to 'PTSB Current Account 4', which sounds like another legacy account.


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## MrEarl (3 Feb 2019)

Hello,

I also received the letter.

- It's a breach of their commitment, where they offered free current account banking when I signed up
- It's a poor offering, when you look at the range of services (incl. app functions) or features on current accounts provided by competitors
- It's expensive, compared with other options.

While it reflects badly on PTSB, it has now prompted me to move to a Bank capable of giving me a better deal, in terms of value for my money (and I'm noting saying that cheapest is best btw).

PTSB have made a mistake here, they should have improved their services, before looking to charge for them.  Had they done that, I'd guess that most customers would stay with the Bank, whereas this way, they'll lose quite a lot I expect.


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## wheeler dealer (3 Feb 2019)

There all as bad as each other ,i am with ulster and paying dear for a business a/c .I wanted to transfer funds to foreign bank account for a deadline and they could not guarantee this as it might take up to a week to transfer !!! Another time they would not cash a sterling cheque as it was 5 months old and it would take a month to clear so it went out of date .Stick with the devil you know ,i am even thinking of switching to them


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## MrEarl (3 Feb 2019)

Business Banking is different to Personal Banking, so you may be better off in a different thread for that issue.  I think it can take up to a month for a GBP£ cheque to clear btw


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## Audi_Driver (3 Feb 2019)

Marobar1 said:


> KBC Extra current account appears to be free also once you lodge 2,500 per month, so I think I'll move there, they have a monthly savings account of over 2% too, which is one of the highest around.



Yes and the KBC account can be opened via their app. Going with KBC now. 

Will I just have to write to my local Permanent TSB branch and instruct them to close my current account, regular and online saving accounts with them?


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## Lightning (4 Feb 2019)

You can either write to PTSB or go into a branch. Obviously make sure that all wire transfers in and out have migrated before you close your PTSB account.


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## billyclub (4 Feb 2019)

Audi_Driver said:


> Yes and the KBC account can be opened via their app. Going with KBC now.
> 
> Will I just have to write to my local Permanent TSB branch and instruct them to close my current account, regular and online saving accounts with them?




Ask KBC to send you a Switching Form. Once sent back they will take care of the move of all direct debit / standing orders from the old current account + also close this. Write to PTSB to close the savings account once you are all set up with KBC.


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## kceire (10 Feb 2019)

One issue I’ve found with swapping to N26 is that because the IBAN is German based, then any transfer in can be classed as an international transfer. 

My wages goes into UB and I usually standing order my spends to my current account in PTSB but when I tried to set this up with UB they said I’d have to manually do it each payday as I can’t set up a SO for transfers out of Ireland!


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## Lightning (10 Feb 2019)

UB should offer a way for SO to any SEPA bank account. Maybe it needs to be done in branch?


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## MrEarl (10 Feb 2019)

Just wondering,

Has anyone submitted a complaint to PTSB over their proposal to start charging fees and if so, how did they get on ?


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## RedOnion (10 Feb 2019)

CiaranT said:


> UB should offer a way for SO to any SEPA bank account. Maybe it needs to be done in branch?


I don't speak for UB, but there's no SEPA requirement to offer SO service.  They're not the only bank with this limitation still.


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## MrEarl (11 Feb 2019)

Don't forget to claim back your stamp duty in respect of any unused cheques, before closing your PTSB Account


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## cream1 (11 Feb 2019)

MrEarl said:


> Just wondering,
> 
> Has anyone submitted a complaint to PTSB over their proposal to start charging fees and if so, how did they get on ?


I did, got a 2 page response much along the lines as the letter notifying of fees. Am in the process of switching to KBC, extremely happy with them. Regular saver rates much better than TSB one


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## Daddy Ireland (12 Feb 2019)

I see no requirement from 1st April to lodge €1,500 every month to avoid fees.  I'm lucky to be in a position for the next 12 months or so to be able to maintain the minimum cleared balance of €2,500 on my account.  Not as though I'm missing out much on interest so will just switch it from a surplus savings account.  I would guess many in the same boat as myself will do the same rather than switch.


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## Buddyboy (12 Feb 2019)

Same as Daddy Ireland, I am just going to keep the required minimum in the account. It is not worth the hassle of moving the current account, probably to find that the new bank will start introducing fees in the near future anyway. I see that Ulster Bank have just introduced fees, so no doubt that is the start of it.


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## MrEarl (12 Feb 2019)

Just one dip below the €2.5k watermark, and they'll sting you ... it's easier to keep that minimum constantly in your account that you may think folks - be it a direct debit, card stamp duty etc. etc.


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## Daddy Ireland (12 Feb 2019)

Hi Mr Earl,
You mean it's harder not easier.  Understood about the sting but if you have the means to keep 5k or 10k in the account then no sweat..    Not ideal for everyone I know but there are a certain cohort of people that won't be too inconvenienced rather than the hassle of switching.  I myself will be working closer to the 2.5k mark though as I count myself good with figures.


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## billyclub (13 Feb 2019)

There's really no big hassle with moving. (I also move gas/electricity supplier every 12 months.)

I've just moved to KBC - a smooth and painless transition. 
Plus getting over double the interest on the savings account (2.1% compared to 0.9% with PTSB). I should have switched long time ago - thank you, PTSB, for kicking me up the ar$e....


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## Daddy Ireland (13 Feb 2019)

CiaranT said:


> Why not switch to PTSB Explore rather than switch bank?



Appears a good alternative.

Any stipulation 're monthly lodgments ?

Do withdrawals of cash count towards 10c back on every transaction ?

I guess I would have to get a new cheque book for the account I.e. I assume they wouldn't just transfer over my existing permanent tsb a/c number.


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## Lightning (14 Feb 2019)

Daddy Ireland said:


> Any stipulation 're monthly lodgments ?



No



Daddy Ireland said:


> Do withdrawals of cash count towards 10c back on every transaction ?



No



Daddy Ireland said:


> I guess I would have to get a new cheque book for the account I.e. I assume they wouldn't just transfer over my existing permanent tsb a/c number.



Ask. I bet you will not need a new book.


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## Daddy Ireland (15 Feb 2019)

Thanks CiaranT.


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## Ryan (15 Feb 2019)

Im thinking of moving to KBC but am being put off by the cashless thing. I get a social welfare benefit paid in cash so what would I do with it?


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## RedOnion (15 Feb 2019)

Ryan said:


> I get a social welfare benefit paid in cash so what would I do with it?


Does it have to be paid in cash?
What about credit union?


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## Ryan (15 Feb 2019)

RedOnion said:


> Does it have to be paid in cash?
> What about credit union?


I think it does but I will look into it for certain.
How could I easily access the money in the credit union?


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## Lightning (16 Feb 2019)

Just get the welfare payment via standing order into your KBC bank account by filling in this form ... https://www.google.com/url?sa=t&sou...FjAAegQIAxAB&usg=AOvVaw3PZYvxMRJbQvSv0S3v02ZQ


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## michaelm (28 Feb 2019)

Daddy Ireland said:


> I guess I would have to get a new cheque book for the account I.e. I assume they wouldn't just transfer over my existing permanent tsb a/c number.


Everything - a/c number, cheque book, DDs, SOs, etc. - will stay the same but they will insist you present yourself at a branch with photo ID . . which is a bit of a pain as it's entirely unnecessary, if they can change you to a Type 4 account with the click of a button they could just as easily have changed you to an Explore Account (on request) . . but they won't.


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## pudds (5 Mar 2019)

When closing your ptsb a/c and it's only a week into that month I'm guessing it would be wise to make sure the 1.5k passes through or face a charge for that month, is this correct.


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## barbaros (6 Mar 2019)

I am also planning to change my bank account to a different bank, I was thinking of KBC and AIB. The problem with KBC is it being cashless and other problem is simply you can't go to a branch and cash out any amount of money you want (above ATM withdrawal limits).  I also have this feeling of KBC will be joining the wagon to ask their customers to keep certain amount of money in their account (like AIB and now PTSB) then it will be same thing.

I am fine with keeping €2500 in my bank account, for AIB, just because of their self service machines and Apple Pay support, I know KBC has it also. But they ask you to keep the money in your current account, which means you can accidentally spend this money or look at your bank account  at the end of the month and think that you are actually rich and can afford the next drink, but when your balance goes below 2500 then they start charging you, and as I see, AIB has fee for many things, even for using self service machines. 

My question is, if there is a way to keep 2500 in your current account but make it inaccessible via your bank card, so you simply can't spend it by accident?


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## Lightning (6 Mar 2019)

KBC have started an advertising campaign saying that they are not increasing current account fees. Hence, it would seem that KBC currently account fees are not changing in the near future. 

There is no way to stop you going below a 2,500 EUR balance with AIB.


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## demoivre (1 Apr 2019)

I received my letter from PTSB the other day regarding changes to my current account. To be exempt form the €18 quarterly charge my minimum cleared balance must be €2500 daily, so roughly a *twenty fold* increase in cleared funds from the €126 need at the minute. They are reducing the credit interest rate from 0.25% to 0.01%  on balance up to €1500. If I want an overdraft they will charge me* 1500 times *their credit interest rate ie 15%, and a €25 set up fee too! Nice margins !


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## Khublei (4 Apr 2019)

I made the switch to the Explore Account and so far so good. I've made back a fair bit using the card. It was easier than switching banks. I might still go to EBS at some stage, although their terrible internet banking and no App are putting me off.


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## Boyd (10 Apr 2019)

Worth noting on this that EBS debit cards will be contactless from June20th onwards. This may make their MoneyManager account slightly more attractive. Its still rubbish online IMO, but the contactless card is a step in the right direction....


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## Audi_Driver (11 Aug 2019)

I kind of left this on the long finger but anyway, I moved to KBC and KBC requested PTSB to close my account, KBC informed me PTSB refused to close my account due to outstanding fees or something I think.

I just logged into my PTSB app and they have charged me €18 in fees, I am just wondering how should I proceed now to get the account closed, will have to called into the branch or would they close it via letter ?


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## theresa1 (11 Aug 2019)

I suspect you will have to call into the branch.


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## Lightning (12 Aug 2019)

Both a letter or a branch call in should work. Might be simplest to just drop into the branch.


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