PTSB Opening Current Account Conditions

Hi

As a Halifax customer,I am shopping around to find an alternative similar Current Account product.

I have looked at AIB, BoI and PTSB, and their switching T's & C's.

Initially, I was thinking AIB High Interest Current Account, but just 1% on up to €1000??? and qualification T's & C's to get "free banking".

Then, I looked at, and disregarded BoI, who pay 0.75% for your money, but T's & C,s make it harder to qualify for "free banking".

This left PTSB, who pay 2% on their Switcher Account, up to €1500, with no fees and no particular qualification T's & C's. You must lodge €1500 per month.

But I am dismayed to find out that to open this [broken link removed], one must provide the following:

Required documents: Current Account

These are the documents we need from you if you’re applying for a current account at permanent tsb.

Money laundering regulations
We have to comply with the Criminal Justice Act 1994 (anti money laundering measures), so we require the following forms of identification from you:

Certified copy of passport or drivers license
Certified copies of 2 recent utility bills to verify address
If you are already a permanent tsb customer, chances are you won't need to provide these documents.

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Now, no other Bank I have checked demands this certification of Documents.

OK, you are asked to provide the originals for ID and Address verification, but when you present them in person, there is no demand for certicication.

Here are the relevant sections from the [broken link removed] and [broken link removed] web-sites:

AIB conditions:

Make sure that you call into your local AIB branch with both:
- A valid form of identification
- Valid proof of your residential address (Required by the Criminal Justice Act 1994)


BOI conditions:

How do I open an account with Bank of Ireland?

Under Money Laundering Legislation, all financial institutions are now obliged to obtain identification for all new account applicants.

You will need the following documents to open a bank account

A current valid passport or driving licence and
A recent household bill such as a telephone, electricity, gas or a current original Financial Institution statement.
In addition to this you will need to fill out the Personal Account Application Form in one of our branches.

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Can anyone verify if indeed PTSB do ask for certified ID and Address verification documents from face-to-face customers

From my experience, PTSB do not look for certified documentation if you show up in person.

I would imagine if you turn up with your original passport and documents there won't be an issue, they'll take the copies there, or check the copies you provided with the originals. The issue of certification may be if you were posting them in

Can anyone verify if indeed PTSB do ask for certified ID and Address verification documents from face-to-face customers

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If you call into a branch they will certify, as in photocopy originals, for you.
Certified copies are required if you are opening the account via the post.

Thanks very much for the replies, they all seem to make sense.

I actually can't find a web-page now on the PTSB site which links to [broken link removed], so I must have entered into an outdated or irrelevant part of the site.

I think it will be PTSB for me.

Hi again.

I found out where I got the link referred to in my OP.

[broken link removed], which is a page they have for Halifax customers who want to switch.

Down the page, just above the Find Your Local Branch Button, you will find this:

We’d be delighted to answer any of your queries, or to set up an appointment for you - to make things as quick and easy as possible for you please [broken link removed].

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This will bring you, the Halifax Customer they want, to the above page, which does indeed say

Required documents: Current Account

These are the documents we need from you if you're applying for a current account at permanent tsb.
Money laundering regulations

We have to comply with the Criminal Justice Act 1994 (anti money laundering measures), so we require the following forms of identification from you:
Certified copy of passport or drivers license
Certified copies of 2 recent utility bills to verify address

If you are already a permanent tsb customer, chances are you won't need to provide these documents.

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I just find it extraordinary that a Bank trying to recruit ex-Halifax Customers, is asking them to go to the Guards, or other Officials to have Documents Certified.

At the very least, it's sloppy.

Just got a reply from PTSB Open24 to an e-mail enquiry I sent regarding this anomoly.

Here it is:

Dear Mr Pancake,

Thank you for your email.

When opening a bank account you will need to call to a branch to open the account. If you call to the branch the copies of the drivers licence or passport and the copy of two recent utility bills will be certified by the member of staff in the branch where the account is being opened.

As you have mentioned if you are not attending the branch in person and are posting in the documents they will then need to be certified by the Guards.

I hope this clarifies the question for you.

Please let me know if you have any further queries.


Kind regards,

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So, I think that clarifies the situation.