Fund transfer to Raisin bank

Logo · 2024-09-26T21:40:36+0100

Hi,
I plan to open a term deposit account with Raisin bank. However I suspect that Permanent tsb (or whatever they're called now) only allow a limited amount to be transferred per day. I have an IBAN number for Raisin (all ID documents and video call approved) but would appreciate if anyone knows if I will need to drip-feed funds into the account over time? Or is it possible to call into a Permanent tsb branch to transfer the funds in one transaction? TIA

ClubMan · 2024-09-26T21:51:24+0100

Logo said:
Hi,
I plan to open a term deposit account with Raisin bank. However I suspect that Permanent tsb (or whatever they're called now)

PTSB.

Logo said:
only allow a limited amount to be transferred per day.

They do:

Mobile App FAQs | PTSB

From setting up to features and benefits, we've answered your frequently asked question regarding our mobile app.

www.ptsb.ie

The limits that apply are:

Transfer between my accounts: €100,000 per day

Transfer to another account: €10,000 per day

Bill payment: €5,000 per day (€25,000 per day for PTSB credit card bill payments)

Future dated payments: €2,000 per day

The minimum payment amount for all payments and transfers is €0.01

Logo said:
Or is it possible to call into a Permanent tsb branch to transfer the funds in one transaction? TIA

Yes - you can do larger transactions in branch - make sure to bring suitable identification and proof of address in case they need to update these on your file and/or check them for the specific transaction.

Logo · 2024-09-26T21:55:09+0100

Thanks ClubMan for your really helpful reply. I suppose you don't happen to know what is the limit for transactions in branch.

Slim · 2024-09-26T22:43:10+0100

I don't know if there's an upper limit but I transferred 50k to Raisin by visiting the PTSB branch.

Brendan Burgess · 2024-09-26T22:45:28+0100

ClubMan said:
PTSB.

No. It's now called ptsb

Brendan

ClubMan · 2024-09-26T22:49:56+0100

Brendan Burgess said:
No. It's now called ptsb

Brendan

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We offer a range of banking products such as Online Banking, Current Accounts, Mortgages, Personal Loans, Credit Cards and Home Insurance. Find out more!

www.ptsb.ie

Permanent TSB plc trading as PTSB and PTSB Asset Finance is regulated by the Central Bank of Ireland. Permanent TSB plc is a public limited company incorporated in Ireland. Registered number: 222332. Registered Office: 56-59 St. Stephen’s Green, Dublin 2, D02 H489, Ireland.

How we're evolving

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Why have you changed to PTSB, instead of Permanent TSB?
In many sectors, including banking, it is common to abbreviate a brand name to make it more convenient – to say, spell and recognise for customers and colleagues.

We will remain Permanent TSB plc from a legal perspective, but in all touchpoints and communications we are trading as PTSB.

ClubMan · 2024-09-26T22:51:03+0100

Logo said:
Thanks ClubMan for your really helpful reply. I suppose you don't happen to know what is the limit for transactions in branch.

Slim said:
I don't know if there's an upper limit but I transferred 50k to Raisin by visiting the PTSB branch.

Don't think there's any limit other than what's in the originating account. I've transferred several hundred thousands in one go in branch.

SPC100 · 2024-09-27T07:44:23+0100

They have a daily limit online.

I setup a number of repeating standing orders in the past to help get the money in faster.

If your raisin is not yet open and if you had a bank without limits (e.g. n26) you could start dripping Into that bank today,

ClubMan · 2024-09-27T07:51:41+0100

SPC100 said:
They have a daily limit online.

I already explained this in detail above.