PTSB - Anyone on here finding it almost impossible to close a current account?

[Acorn22]

Hi,

We are trying to tidy up our finances at the moment. We noticed a PTSB account we have opened with nothing in it. Bank charges are mounting up - at around e38.50 at the moment.

Went to one branch in the city centre to close the joint account. Was informed that I needed to complete a 'closure form'. We completed that and returned it to our nearest branch (about 30 km from where we live). We owed the bank e38.50 and they would not accept cash (they just closed their cash desk recently).

The guy there said to wire it through. I know before we start out doing it we will be met with some other criteria or thing to do. Anyone else struggling to close a bank account with PTSB. Its costing us e6.00 a month.

Any help welcome.

Thanks

 

[Paul O Mahoney]

Hi,

We are trying to tidy up our finances at the moment. We noticed a PTSB account we have opened with nothing in it. Bank charges are mounting up - at around e38.50 at the moment.

Went to one branch in the city centre to close the joint account. Was informed that I needed to complete a 'closure form'. We completed that and returned it to our nearest branch (about 30 km from where we live). We owed the bank e38.50 and they would not accept cash (they just closed their cash desk recently).

The guy there said to wire it through. I know before we start out doing it we will be met with some other criteria or thing to do. Anyone else struggling to close a bank account with PTSB. Its costing us e6.00 a month.

Any help welcome.

Thanks

Just take all the money out and if their charges bounce they'll contact you.

They really are useless in everything they have done over the last few years, and they won't help in solving things .....

 

[NoRegretsCoyote]

Was informed that I needed to complete a 'closure form'. We completed that and returned it to our nearest branch (about 30 km from where we live).

Am almost certain this could have been done by post. I closed an AIB account a few years ago by calling them up and then writing them a letter asking them to transfer the balance to another account.

Make sure to get statements and any other records BEFORE the account is closed as it will be much more difficult after.

 

[MrEarl]

I've first hand experience of this - they are a complete disgrace - don't waste endless energy on them, as they'll waste a hell of a lot of your time, trying to put obstacles in your path to stop you closing your account.

. .. Ongoing fees are only one of the obstacles, they'll also use excuses like needing to meet, having to fill out special forms, wanting further ID documents (despite having been provided correct ID documents previously), the sun not being in the right part of the sky when you wanted to close your account etc. etc.

Withdraw all of your money,

Give them written instructions to close your account (keep a copy), and expect them to refuse to act on it.

Make a formal complaint with them, for not acting on your instruction to close your account.

If they don't uphold your complaint, then make a complaint to the Ombudsman about them, you won't be the first to have gone that route!

Interestingly enough, you'll see them close the account and write off all charges that they applied after you instructed the account closure, before you get a final decision from the Ombudsman's office.

As I say, they are a complete disgrace - how they get away with this carry on, given the level of consumer protection that's supposed to exist, is simply beyond me.

The one question that I continue to struggle with, is whether their actions are strategic, or are out of pure incompetence.

 

[tomdublin]

The one question that I continue to struggle with, is whether their actions are strategic, or are out of pure incompetence

Or both - a strategic decision by management not to train frontline staff in helping customers close their accounts.

 

[Acorn22]

I've first hand experience of this - they are a complete disgrace - don't waste endless energy on them, as they'll waste a hell of a lot of your time, trying to put obstacles in your path to stop you closing your account.

. .. Ongoing fees are only one of the obstacles, they'll also use excuses like needing to meet, having to fill out special forms, wanting further ID documents (despite having been provided correct ID documents previously), the sun not being in the right part of the sky when you wanted to close your account etc. etc.

Withdraw all of your money,

Give them written instructions to close your account (keep a copy), and expect them to refuse to act on it.

Make a formal complaint with them, for not acting on your instruction to close your account.

If they don't uphold your complaint, then make a complaint to the Ombudsman about them, you won't be the first to have gone that route!

Interestingly enough, you'll see them close the account and write off all charges that they applied after you instructed the account closure, before you get a final decision from the Ombudsman's office.

As I say, they are a complete disgrace - how they get away with this carry on, given the level of consumer protection that's supposed to exist, is simply beyond me.

The one question that I continue to struggle with, is whether their actions are strategic, or are out of pure incompetence.

I agree. I feel that it is strategic as they are making a good bit of money there. I'd say that there are a lot of people who just leave things as they are (don't close account) as they are so busy with life. PTSB are profiting from this.