PTSB increasing their current account fee

C

Charley

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I've been charged current account fees since PTSB got rid of their account balance waiver recently.

Now, they've sent another letter saying from 01 July 2024 the current account maintenance fees will increase from €18 to €24 per quarter.

Is there any free banking or decent alternatives with other other banks?
 
Just asking the same myself my account and the joint with oh are both with them

So double charges for the privilege of using my money
 
They suggested moving to an Explore current account as you get some cashback. monthly fees are the same. No transaction fees (I don't think i pay any on my current account as it is)

Any downsides to the Explore account?
 
Got the same letter I think I'm going to finally move.

Looking at going to ebs money manager and use revolut as day to day banking. I know ebs is in the dark ages when it comes to app etc but no way am I giving PTSB nearly 100 euros a year
 
I'm in the same situation. Apparently, the cashback is limited to €5 per month. That would help towards the €96pa if one maximises use of the debit card. I don't think it's worth the hassle to move.
 
Very hard to make 100 transactions for the fiver back. Really poor from PTSB to change the 10 cent to 5 cent so soon after removing the free legacy accounts - some may have decided to stay based on the original deal, and they obviously had it in mind for a while. Should have been more up front about it that it was coming down the tracks.
 
mugsymugsy said:
Got the same letter I think I'm going to finally move.

Looking at going to ebs money manager and use revolut as day to day banking. I know ebs is in the dark ages when it comes to app etc but no way am I giving PTSB nearly 100 euros a year
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Are EBS going to pull the plug on their current account and amalgamate with AIB?
 
Pmc365 said:
Are EBS going to pull the plug on their current account and amalgamate with AIB?
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Well so far I have been with Ulster and kbc so might as well have another bank leave / change.

Switching is a hassle but I hate consumers getting screwed over because people won't move.

Amazing that companies will treat existing customers poorly and then when you move they ask why.
 
mugsymugsy said:
Well so far I have been with Ulster and kbc so might as well have another bank leave / change.

Switching is a hassle but I hate consumers getting screwed over because people won't move.

Amazing that companies will treat existing customers poorly and then when you move they ask why.
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You're right to move. I dealt with Permanent TSB in the past and can't say the experience was good in-branch and their online banking had too many passwords and required a laptop for the transaction I was undertaking.
I have to say EBS are excellent, KBC were also excellent. BOI are dreadful unless you're lucky enough to meet a helpful ( usually older) staff member.The phone service with BOI was good if you were a "Premier" customer. I wasn't a "Premier" customer btw.
 
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mugsymugsy said:
Got the same letter I think I'm going to finally move.

Looking at going to ebs money manager and use revolut as day to day banking. I know ebs is in the dark ages when it comes to app etc but no way am I giving PTSB nearly 100 euros a year
Click to expand...

In fairness to PTSB, i think their website is much better than any of the others. I prefer dealing with them than BOI/AIB. But the monthly cost is a bit OTT for me.

I'm holding off making a decision on moving until i see the Bankinter proposal later this year.
 
We switched to an Explorer Account this week. While the fee of €96pa is annoying, I waste more money on less useful things and I don't feel like switching. The prospect of at least some cashback makes it less annoying.
 
Are people over-obsessed with banking fees?. I pay €0.20c a day for Bank of Ireland but for that I get a physical branch I can walk into, an app (which is not a patch on Ulster but it does the job), online and phone support + physical cards. I know n26 is free for a basic account but if you lose your phone you have nothing until you replace it. Your phone becomes a single point of failure for payments and you have no ability to have a conversation with someone in your bank in real time or fact to face if needed. I've no sympathy with people who complain about Revolut when they have an issue, you get what you pay for and if you are paying nothing, what do you expect?.

Over the past 2 years, I've had to walk into a branch about 5 times, to lodge some cash, get a bank draft, get a legal form signed and a couple of other things. I've been able to ring the banks helpline to resolve an issue and when I've left my phone at home by mistake, still had a card on me. Is that worth 20c a day?. In my mind probably yes

People are probably loosing out more on having ineffective savings accounts and paying far more then they should for management fees on investment products etc then they ever pay for a current account,
 
People losing their minds over the price of a pint per month!! My banking with PTSB for the first four months of the year has cost €10.50.

There needs to be some perspective here. Banks, like any other business, are entitled to charge for their services.
 
mugsymugsy said:
but no way am I giving PTSB nearly 100 euros a year
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Is €100 per year actually bad value for what you get? I'm fascinated by the threads on here where people get up in a heap about current account fees and go through the misery of switching to another bank with all that entails to save maybe a score a year.
 
thedaddyman said:
Are people over-obsessed with banking fees?. I pay €0.20c a day for Bank of Ireland but for that I get a physical branch I can walk into, an app (which is not a patch on Ulster but it does the job), online and phone support + physical cards. I know n26 is free for a basic account but if you lose your phone you have nothing until you replace it. Your phone becomes a single point of failure for payments and you have no ability to have a conversation with someone in your bank in real time or fact to face if needed. I've no sympathy with people who complain about Revolut when they have an issue, you get what you pay for and if you are paying nothing, what do you expect?.

Over the past 2 years, I've had to walk into a branch about 5 times, to lodge some cash, get a bank draft, get a legal form signed and a couple of other things. I've been able to ring the banks helpline to resolve an issue and when I've left my phone at home by mistake, still had a card on me. Is that worth 20c a day?. In my mind probably yes

People are probably loosing out more on having ineffective savings accounts and paying far more then they should for management fees on investment products etc then they ever pay for a current account,
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With my Bank of Ireland credit card I have all of that and I pay just over 8c a day (govt stamp duty / 365.) Two branches within walking distance, excellent security team.

After my experience with the digital banks versus BoI early last month over fraud done by pickpocket, I'm totally reconsidering who I bank with. I currently have a complaint opened with the financial ombudsman over Revolut refusing to send a chargeback to VISA and N26 have only today messaged me to say their investigation has been started, whereas BoI had their part done and dusted within days. BoI were also the first of the three banks to have replacement card reach me and hiccups with getting everything set up on new phone etc were the smallest with BoI, whereas Revolut locked me out repeatedly asking for stupid selfies and N26 locked me out for a whole week without communication. Meanwhile I'm waiting nearly 2 weeks for an account with EBS to be opened.
 
24601 said:
Is €100 per year actually bad value for what you get? I'm fascinated by the threads on here where people get up in a heap about current account fees and go through the misery of switching to another bank with all that entails to save maybe a score a year.
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It depends on what you get for that hundred. Before Ulster Bank was in wind down mode their UFirst account was brilliant value for 10eur a month. Phone and travel insurance, 25% off Ticketmaster tickets, 500eur overdraft with no interest, maybe some other benefits too. Whereas with the charges from the financial institutions that are left in the country what are you getting except core banking activity?
 
dubliner8 said:
Whereas with the charges from the financial institutions that are left in the country what are you getting except core banking activity?
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I don't know, maybe I'm mad but I don't think €24 a quarter is bad value for core banking services. I can visit a branch if I'm really struggling with something. I can phone them and speak to a human (eventually) if I need to. I have a functional mobile app & online banking with strong customer authenitication. I get a debit card. I can do a few extra bits at PTSB ATMs. I can transfer money in an out of my account no problem to anywhere in the SEPA. The infrastructure to support all this costs money like. I just think that the price is so immaterial in the grand scheme of things, and that switching is so much hassle, that it's not worth all the moaning people do (on here & in the real world).

I actually think PTSB aren't great when it's all said and done but none of the banks are. I'm certainly not bothered moving to BOI to save €25 a year, or whatever it would be.
 
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