Hello there,
I am a PTSB Switch Current Account customer in xxxxxxxxx, with Open24 on-line access.
I have read that PTSB intends changing the Current Account offerings in the near future, and that the Annual Credit Interest will be reduced, amongst other things.
Can you please inform me if there are changes imminent regarding the above, also, if there are changes regarding illegibility for Free Day-to-Day banking for Switch Account customers like me.
As far as I can see, the only Current Account on offer is the Everyday Account, which has the following qualifying conditions:
Day to Day Banking: Free if you (1) use your Visa Debit card at least 18 times in the quarter AND (2) Lodge at least €3,000 to your account every quarter AND (3) Make at least one transaction through Open24 every quarter AND (4) "Keep your account within agreed limits". If you do not keep inside these conditions you are billed 12.00 EUR per quarter.
Can you please inform me if you intend to convert existing Switch customers like me to this account, with the above quoted conditions pertaining.
I look forward to your clarifications and answers to the above,
Regards,
Desperate Dan
Dear Desperate,
Thank you very much for your email.
At present I can not confirm that fees and charges will not be applicable to your type of account in the future.
However I have included an extract from our charges brochure with regards to the fees applicable on your Switch Current Account and the link to the full charges brochure for your convenience
“Customers may no longer open any of the following
accounts. However, if you already have one of these
accounts, then the following fees and charges apply:
Switch Current Account
• No quarterly fee
• No overdraft set up or renewal fees
• There is no charge for automated and non-automated
transactions as listed on Page 3 of this brochure except
(i) ATM transactions where charges will apply on Euro
withdrawals outside the EU and on all non Euro
withdrawals at 3.5% of the Euro value of the transaction
(min. _3.17 & max. _11.43) and (ii) Debit Card
Transactions where charges will apply on all debit
transactions outside the eurozone at 1.75% of the Euro
value of the transaction (min. _0.46 and max _11.43).
These transactions and their applicable fees are always
charged by the Bank for these services.
Therefore any references to exemptions, charges, ATM
withdrawals and transactions referred to below do not
apply to the above mentioned transactions. See page 13
for fee and charge exemptions that may apply.
• No fee for standing order and direct debit set ups.
• No statement fee (excluding duplicates).”
[broken link removed]
Please let me know if you have any further queries.
Kind regards,
Lxxxxx Hyyyyyyy
Open24.
Dear Desperate
Thank you very much for your email.
At present your Switch Current account is eligible for the credit interest rate of 2%. Credit interest in lodged in to your account in January each year. This is a variable rate and can increase or decrease. I can not confirm if this interest rate is going to change or still be available in the future.
Please let me know if you have any further queries.
Kind regards,
Lxxxxx Hyyyyyyy
Open24.
I think in order to get the interest you have to carry out so many transaction's and because of this my Mother never registered.