I received a letter from PTSB saying they will be charging 25 euro per year to provide an overdraft and 18 euro per quarter to maintain the account. No 18 euro charge will be taken if I keep a daily balance in my account of 2500 euro.
I'm expecting a call back on Monday 28th from local branch. To me it's simple. I will not be paying them for something that another bank (kbc) offers for free.
If they insist on charging me these fees I will simply close this account and also move my mortgage . Might not be much to them but they will be losing out on my few thousand euros per year interest.
Silly move from PTSB in my opinion but I'm sure they've done the sums on how many people will still stay with them and how many will leave.
Looks like they've risked losing 1000's of euro in interest on the presumtion i'll will pay the charges.
There's a MONTHLY €4 maintenance charge on the PTSB Explore as far as I can gather.Why not switch to PTSB Explore rather than switch bank?
There's a MONTHLY €4 maintenance charge on the PTSB Explore as far as I can gather.
Being a bit lazy but anyone got a good comparison link for current accounts to get free banking where you dont have to keep x amount in the account.
I'm just after getting the letter today - keep 2500 in your a/c daily or pay 18 maintenance fee. I too am gonna move my a/c . I'll ring them first though to see if it's right. Any suggestions as to where does free banking?
Before, having 0 in your account and taking out money meant the bank would charge you. Now, having 2500 in your account and taking out money means the bank will charge you.Am I missing something? If you have 2.5k in cash, I don't see the big hassle here with keeping it in the account full time?
10cent on every use, up to €5, and then you're charged €4 a month maintenance. To break even on that €4 is 40 card transactions a month. I barely use my card once a day.Why not switch to a PTSB Explore account? PTSB Explore effectively reimburses the fees provided you make reasonable usage of your debit card.
Before, having 0 in your account and taking out money meant the bank would charge you. Now, having 2500 in your account and taking out money means the bank will charge you.
And the interest rate went from a crappy 1% to a crappier 0.01%.
Got the letter today, for me its more about when I signed up PTSB had a free banking for life guarantee that attracted me to them when BOI fees went up which they now seem to have broken. Mortgage, current account and joint acc all with them but definitely considering moving all 3 now.I understand its annoying, but at the end of the day, its E72 / 365 days is less than 20c a day. Many people wouldn't even bother to bend down and pick 20c up off the ground!
You're considering moving your mortgage over 48 euro per year current account fee?Mortgage, current account and joint acc all with them but definitely considering moving all 3 now.
It's about €145 pre-tax income per year (if you are in the higher tax band), i.e. about €1600 pre-tax income over ten years including interest. Why would anyone pay that if they don't have to?I understand its annoying, but at the end of the day, its E72 / 365 days is less than 20c a day. Many people wouldn't even bother to bend down and pick 20c up off the ground!
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