PTSB Launch New Current Account Product With Free Banking

No.

PTSB have lots of different legacy current account products. Nobody is being force migrated to the new product.

You can switch in branch if you wish.
 
Thanks.....why would someone not switch from "old account"? This new one has less conditions and pays some interest.
 
username123 said:
Thanks.....why would someone not switch from "old account"? This new one has less conditions and pays some interest.
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It all depends on which on you are comparing it with. PTSB have about 10 legacy current account products.

The new product, that appears to simply be called 'Current Account', offers better conditions that the most recent legacy product called 'EveryDay'.

Hence 'EveryDay' customers are better off switching to the new product.

However, 'Switch' customers are best off not switching to the new product.

Customers of other legacy PTSB products need to weight up the decision.
 
I'm considering moving to this c/a as it's free from AIB where I'm being charged a fee per year. Is the switch as easy as it seems to be? Has anyone experienced any problems with it? Are there any negatives?
I'm fed up of AIB and since seeing mortgage interest is going up today I've decided to protest by moving. Just want to make sure I'm not making a mistake
 
Depends on how many DDs you have and how lazy you are (IMO). Most people dont move as they think its too much hassle. I thought it was grand, I had one direct debit only.

No negatives so far. No fees either
 

I moved two current account's from BOI to PTSB after getting my current account fee's from BOI about 6 weeks ago. The process has been very smooth so far.

I went into my local PTSB branch and filled out the paper work, took about 45 minutes as doing two accounts.

Only slight hassle was that one of the companies I have DD's set up with will not accept a new instruction from a bank and I had to fill out a new DD. Small price to pay for no fees and should save me about €150 a year.
 
I'm also considering swapping too. Does the €1500 per month transactions include salary payments?

Also, I presume you will have access to all the standard banking features such as online transfers, their iPhone app etc?
 
username123 said:
Depends on how many DDs you have and how lazy you are (IMO). Most people dont move as they think its too much hassle. I thought it was grand, I had one direct debit only.

No negatives so far. No fees either
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Thanks, think I'll go ahead. Why do you say it depends on my dd's---I have a good few? Is it just that it's alot more to move?
 
normahorse said:
Thanks, think I'll go ahead. Why do you say it depends on my dd's---I have a good few? Is it just that it's alot more to move?
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Its watching the dates that they are due so not to incur a 'non collect fee' or whatever they call it.

I would advise moving them one by one immediately after you have just paid one, so you will have 30 days for them to be set up in your new account before the next due date.

I relied on Ulster Bank doing it for me in the past and they made a mess of it and I got stuck with 'non collect fee' Self help is best help
 

Once we agreed the 'switching date' I rang the companies that were due to collect within 10 days of this date and explained what was happening and made the necessary arangement.
 
normahorse said:
. Is the switch as easy as it seems to be?
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in a word -NO. I went to try and switch mine. I was told A-i'd have to make an appointment and B-The appointment would take an hour

Really surprised at this...seeing as they have ads in the paper saying i can get mortgage approval in principal in 15mins !!!


still going to go ahead with making the switch. BUT i'll be moving the DDs myself. I have heard so many stories of banks making a mess of the DD switches that its not funny. I'd rather do it myself and know its been instructed.



why is it so difficult to set up a bank account these days???
 
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