PTSB Increase Explore Current Account Maintenance Fee - April 2024

"However, the cashback payment is going from 10c per transaction to 5c per transaction from the beginning of April."

There is a change to cashback.

5c instead of 10 c per transaction
 
Disappointing, so instead of getting back €3 a month I'll only get €1.50 and a price increase of €2:(
 
Are 'Switch' and 'Explore' the only 2 current accounts or have PTSB a whole pile of others?
Affected?
 
WizardDr said:
Are 'Switch' and 'Explore' the only 2 current accounts or have PTSB a whole pile of others?
Affected?
Click to expand...

PTSB have a few legacy current account products. PTSB merged some of these products a few years ago but several legacy products including Switch still remain.

In addition, PTSB have several current account product offerings for new customers but the maintenance fee change "does not apply to the Basic Payment Account, Student and Teen Accounts, or qualifying Jubilee customers."
 
Mr Weston in Independent suggests 500,000 account are affected. He is usually precise on these matters.

I suppose this increase came from feedback from customers who are to the forefront of PTSBs new thinking. The customer experience department must have conflated 'charges are too high' with 'charges are not too high' or else the new mantra is bogus.
 
Let's not forget, in the current economic climate, they are also making money on all credit balances, on a daily basis..

For a less than full service Bank, it's a gutsy move!
 
Does anyone have any experience with N26 Current Account options? What are the advantages, pitfalls? Is it a realistic alternative considering the ongoing behaviour of PTSB?
I did a "Search" for N26 and there are no mentions anywhere on askaboutmoney?? However it comes up as the number one alternative Current Account on bonkers.ie!!
 
Search for "N26 bank" including quotes. The search feature ignores terms that are 3 characters or less.

I have an N26 account and I prefer it to Revolut but I don't use it as my main account.
 
Páid said:
Search for "N26 bank" including quotes. The search feature ignores terms that are 3 characters or less.

I have an N26 account and I prefer it to Revolut but I don't use it as my main account.
Click to expand...
Thanks Páid.. Any reason why you chose N26 and not Revolut? Any why not use n26 as the Main Account?
 
N26 have poor customer service on their chat. Often times they won't answer specific questions put to them unless repeated several times in a protracted chat. I would consider Revolut's chat function better but I would trust N26 as regards security of funds as German- backed.
I do not use either N26 or Revolut as a principal current account.
 
Been using N26 as my main account since 2019, never had any problems and it's head and shoulders above Irish banks. Only issues I had were resolved quickly (my own fault)
 
5 cents cash back ? Is it a joke??? It's time to get rid of PTSB... €8???
Maximum €5 cashback? No way...good bye PTSB!!!
 
Protocol said:
You would move current a/c over an extra 24 fee per year?
Click to expand...
That is how they get you, slowly adding bit by bit onto it. You might not mind one or two euro here, if you don't vote with your feet, next time another one or two euro. Rinse repeat until people complain.

I closed mine back when when they remove free fees back in June/July last year. Never look back since.
 
I changed to the explore account last September.
Have only just read now that I could have remained on the old current account and had my fees waived as I am over 60 and have had that account since before 2018.
Will contact them on Tuesday, but I'm sure they'll say I should have read all the fine details before I switched

10. Are there any exemptions for senior citizens, students etc.?
Response: Full time secondary level or third level students in a CAO recognised institution can avail of our student account
option.
If you are over 66 years (or between 60 & 66 years if your account was opened on or before 13th January 2018) you are
eligible for fee and charge exemption regardless of the balance maintained in your account.
 
I switched account last year and have been receiving 5 euro credit every month since against 6 euro charges. Joint accoun ages 63 and 60.
I never heard or copped no charges had I remained on old account.
 
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