Early withdrawl from PTSB interest first a/c ?

P

pcocp

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How strict are PTSB likely to be if a customer wishes to withdraw a lump sum, in full, from their interest first a/c ?

Money was deposited September 2010, for 1 year.

Will they require a genuine need for withdrawl to exist, or will they let the withdrawl happen if the customer repays the interest paid out at the beginning of the term?

(Would interest have to be repaid in full, given 4 months left on term?)

Thanks,
PCOCP.
 
Hi PCOCP, yes you can withdraw from this account early but you will have to pay a penalty on the interest you already received! You will forfeit part of your interest based on the amount your withdrawing and 4 months left in the term. You just need to put it in writing to their head office, as far as I know you will need to give them a reason for the withdrawal i.e. personal circumstances changing etc.

Good luck
 
Hi pcaop,

I was wondering if you proceeded to make an early withdrawal to your interest first savings account. I would be interested to know what penalty was applied and the procedure you had to go through.

Thanks
 
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