# New PTSB Online Savings Accounts via open24



## DublinTexas (21 Oct 2010)

This morning after login into open24 I was greeted with a big advertising banner for their new Online Instant Access Savings account and Online Regular Saver Accounts.

The Instant Access account is opened online in an instant (with SMS confirmation) and seams to pay 2.5% Rate(Gross/AER) for balance €1 - €50,000 and 1.0% Rate(Gross/AER) for balance €50,000+.

No restrictions on taking the money off the account and it looks like transfers to / from another PTSB account are in real time via the Transfer Between Own Accounts function in open 24.

They also offer a regular savers account which offers 4.00% Rate(Gross/AER) for balances of €1 - €50,000 with a maximum of 1000€ monthly contribution. And unlike the offline variant there is no 21 day notice period for withdraws.


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## Lightning (21 Oct 2010)

Thanks DublinTexas. 

PTSB seem to have hidden the details inside their open24 accounts. I have access to open24 and will update the best buys shortly. 

Their new online regular saver account is paying a competitive 4%. The 2.5% instant access account is simply not competitive and not as high as other PTSB accounts. 

It is interesting that PTSB have increased their interest rates yet again. PTSB clearly want to reduce their unsustainable high loan to deposit ratio.


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## Godfather (24 Oct 2010)

As PTSB customer I find this so helpful for my low term liquidity in order to get a free cup of coffee made of savings from time to time. Great idea indeed!


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## skrooge (24 Oct 2010)

As a PTSB customer I found this account very handy and great to see a competative rate again.  I doubt it is going to mark the start of aggressive competition in the deposit market but I'm not complaining.  Perhaps PTSB are feeling confident about there EBS bit and figured this was an easy way to start merging business 

After reading about it here I had it open within 5 minutes.   Never one to get bogged down in T&C is skimmed through it... but I presume if I get my grand in the account this week (i.e., end of October) I can transfer Novembers amount in the following week?


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## sandra1 (24 Oct 2010)

Hi Ciaran,

sorry if this is a stupid question, but how did you find out the following for Regular Savings Account:

Note 1: Regular lodgements required by direct debit only.

I have cheked T&C but I could not find this? Also, is it possible to lodge to this account more then once a month (up to 1000e)? I am not sure how much would I save each month. Is it possible to set minimum for direct debit and then lodge more if I have? Is it required to lodge some ammount each month? 

Thank you in advance.


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## skrooge (25 Oct 2010)

sandra1 said:


> Hi Ciaran,
> 
> sorry if this is a stupid question, but how did you find out the following for Regular Savings Account:
> 
> ...


 

That sounds all very perfectly reasonable.  When I opened this account I transferred €1 to make sure the account details were correct - that was Thursday.  I'll transfer the balance tomorrow.  This is somewhat similar to the approach you're talking about.  Its worked with all the other banks I've tried it with and I can't really see why PTSB would be any different. From the face of it it is a standard regular saver product.  usual max of a grand.  

If you've halfway decent internet banking I wouldn't worry about this at all.  Just use an electronic transfer to pay money in when you've an idea of how much you can save that month.  You could do a min amount like you suggest but if you're going to go back and top it up it might be as easy to just do it all in one go.


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## Godfather (25 Oct 2010)

Query: if we need to close the accounts I guess we have to go to the branch... Or am I wrong? 

So it looks like this saves you time queue when opening but not when closing the account!


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## sandra1 (25 Oct 2010)

Could you post the link to T&C for this account? 
Is it required to set up direct debit?
Is there minimum amount to lodge each month? I assume that there is a penalty if any month is missed?
I would put that minumum on direct debit and then top up each month.

Thank you all


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## Lightning (25 Oct 2010)

Firstly, the T&C's are here:
[broken link removed]

As per the T&C's you cannot exceed the maximum amount, 1,000 EUR per month:



> c) For the “Online Regular Saver Account” you can lodge each calendar month an amount, not exceeding a maximum amount ("the Maximum Monthly Amount) as specified by us from time to time (or over such other period as we may specify in which circumstance “Maximum Monthly Amount” will be deemed to mean “Maximum Periodic Amount”). If at any time a lodgement exceeds the Maximum Monthly Amount, the full lodgement amount will be returned.



Can someone please clarify the point with regard to minimums per month? I cannot see this in the T&C's. Thanks


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## Lightning (25 Oct 2010)

Godfather said:


> Query: if we need to close the accounts I guess we have to go to the branch... Or am I wrong?
> 
> So it looks like this saves you time queue when opening but not when closing the account!



You can close the account online. Quicker than going into a branch.


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## Godfather (26 Oct 2010)

CiaranT said:


> You can close the account online. Quicker than going into a branch.


 
Hi CiaranT, where do you see the button that would allow this pls? I have opened a 2.5% savings account and I can't see the button that would allow closing of the account online. Or do you mean by open24 phone-line? Thank you for clarifying


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## DublinTexas (29 Oct 2010)

I opened an online instant access account and transfered part of my savings into it.

Now I got a letter telling me that they require certified copies o my identification and verification documentation and give me 14 days to do so.

There is no phone number on it to call and talk to them.

This is madness as they have this when I opened an account with them years ago and got open24 access in the first place, secondly they already send me statements to this address, so I'm going to use their statement to proof my address and than it must be certified by a garda oir a solicitor.

This is not worth it.


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## Lightning (1 Nov 2010)

Godfather said:


> Hi CiaranT, where do you see the button that would allow this pls? I have opened a 2.5% savings account and I can't see the button that would allow closing of the account online. Or do you mean by open24 phone-line? Thank you for clarifying



I mean you can transfer all the funds out of the account online, if you wish.


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## sandra1 (2 Nov 2010)

Ciaran, is it required to lodge in this account each mnth? I can not find in T&C that direct debit is required?
I'd like to open it, but I don't want to loose any interest in case I miss a month.
Thank you so much for all your help.


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## Godfather (3 Nov 2010)

CiaranT said:


> I mean you can transfer all the funds out of the account online, if you wish.



Ah ok, and then we can get the savings when we close, but I'm not sure if we should go to the branch in order to close...  If I'll hear something I'll let you know!


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## OnDeBanks (9 Nov 2010)

Does anyone know when the interest is added to your account?  Is it monthly or annually or what?


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## SPC100 (17 Nov 2010)

Online - I believe you can only transfer out 3k a day to another bank. If you use the phone also, you can get up to 6k a day.


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## Lightning (17 Nov 2010)

OnDeBanks said:


> Does anyone know when the interest is added to your account?  Is it monthly or annually or what?



Annually, each November.


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## Jiblet-run (29 Aug 2011)

Just to warn those with PTSB and using Open24 (internet banking) following my experience.

Friday 2 weeks ago - I went into my PTSB branch and closed my 21 day regular saver account (earning 3.5% AER). I had previously gave the correct 21 days and was able to withdraw and close the account successfully.

I now have 1 account left with PTSB - the online 4% regular saver account. I and the teller both saw it on the screen in the branch with my balance.

Fast forward to last night - logged in to check my balance - but kept getting an incorrect password message. Eventually I was locked out of the system.

Rang PTSB today and quoted my Open 24 number but was informed that number wasn't valid. I then informed him of the story above and the penny dropped. He knew the problem straight away. It seems that tellers when closing an account for customer - they de-registered them for Open24 banking - regardless if they have further accounts active. It isn't the first time this has happened - so I was told.

So solution was to re-register me for Open24 banking. I'll get another customer number in 5 days and will have to ring the bank. I'm not too put out by this but just letting others know if you're in the same situation.


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## Godfather (30 Aug 2011)

The cashier must have pushed the wrong button on his/her screen!


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## Oxford (30 Aug 2011)

I have the same experience... I was asked to bring certified copies too. It `s funny I am with them since 2005 and my mortgage is with them....


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## DMcL1971 (30 Aug 2011)

I had my current ccount with PTSB for for about two years. I wasn't happy with the service I received so I closed the account, that was in 2007. About three months ago I went to them to open a online regular saver account. When they heard I used to have an account with them, the guy made one phone call and reactivated my open24 account. I even had the same username and password. I drove straight home and was able to log in.


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