In the letter I received today it stated the terms and conditions change on 25th August 2023 and that it is based on the next charging quarter of my account, so I presume whenever the next charging quarter of your account is the date for customers.On what date will the fees waver end?
No it's a 18 Euro account closure fee which the T&C's say has to be paid even for accounts that are fee exempt. But I'm closing the account because they have unilaterally changed the T&C's to my disadvantage and now they want to extract additional fees simply for the privilege of letting me exit my business relationship with them. I don't know what the legal situation is but it strikes me as unethical.Is it partially Stamp Duty
The fact that, as you state, PTSB does not refer to the fee as an account closure charge is irrelevant
As far as I understand it it's a quarterly fee which is waived if the balance is above 2,500 while the account is open but is payable for one quarter in advance upon closure - there's no real logic to it.Just out of interest, what do they call the fee?
Good point - the original news article that kicked off the thread doesn't even mention Switch and you seem to be the first to spot this!Switch does seem to be out of scope here.
Just cancel your lodgements, DDs and Standing Orders and wind the account balance down to zeroWent to PSTB branch today to close my legacy account and they told me I would be charged 18 Euro even though the balance is over 2500 (they weren't sure why and no manager was available). Did anyone have the same experience?
They threatened that if I did this fees and charges would just keep piling up.Exactly, that's what I would do - bring the balance to zero and leave the account dormant.
Same type of account. Nothing yet.I have one of these 2500 per month and free banking accounts. I just logged into my account now, the account type is 'PTSB CurrentAccount4'. It is my only account with them, I had a cc with them previously.
Surely they are sending out a letter to each customer if this change is affecting them? I haven't got any letter about any change yet.
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?