PTSB Demand on Line, 2.0% Int

P

pudds

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Permanent TSB: Online Demand Account
2.00%* on €0.01 to €50,000
1.00%** on €50,000.01+
*Rate applies from 18 February 2014.
Access: Instant access.
Interest paid: Annually on first working day after 20th November.
**Once the balance in your account goes over €50,000 the interest rate on the whole balance moves to 1.00% AER variable.
Online only account access.
Deposit Protection: €100,000 via Irish Deposit Guarantee Scheme
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Will this 2.0% apply to existing accounts or only new ones.

My account is only showing 1.25%
 
Both. Existing and new accounts.

Do you mean 2.25%? Can you recheck now, has it changed? I can see 2.00%.
 
DMcL1971 said:
The account that dropped its interest rate from 2.25% to 2.00% yesterday, is the PTSB 'Instant Access Account'.

If you are receiving 1.25% interest then you are probably on either:
Instant Access Deposit Account (Old INBS accounts )
Demand Online Account (Old Northern Rock accounts)
Booster Bonus Account (PTSB)

The rates can be found here https://www.permanenttsb.ie/media/p...ates/permanent-tsb-Deposit-Interest-Rates.pdf
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Yes that's the one I have, will they convert this to Online Instant Access Account @ 2% int or allow me open this and transfer the money over.
 
I'm not sure about converting it but you should be able to open the PTSB one online and transfer the money into it.
 
pudds said:
Yes that's the one I have, will they convert this to Online Instant Access Account @ 2% int or allow me open this and transfer the money over.
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They won't convert it, it saves them money on interest. Just open the demand account and transfer. Once opened you can transfer the money straight away and it'll appear instantly in the new account on your online banking.
 
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