The best ptsb rates are not available online

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BrokeBroker

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I opened a term deposit with pTSB recently for some savings and of course am confident in its security and integrity.

2% interest.

I also opened a regular saver with 1% interest but nothing deposited yet.
Just for anything additional.

.......

For me personally it feels like a leap to use the title institutions but, if they are reliable of course their rates are appealing.
 
BrokeBroker said:
I opened a term deposit with pTSB recently for some savings and of course am confident in its security and integrity.

2% interest.

I also opened a regular saver with 1% interest but nothing deposited yet.
Just for anything additional.

.......

For me personally it feels like a leap to use the title institutions but, if they are reliable of course their rates are appealing.
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What is name and term for 2% PTSB rate ?
 
That is ridiculous that PTSB does not offer those rates online. This is clearly a method of making it as difficult as possible to avail of the higher rates as its a major hassle now to get to talk to anyone in a bank nowadays
 
It's actually worse than it appears. if you look at the first page of the document I linked to, the bottom half of the page shows the ONLINE Fixed Term Deposit Accounts that were available previously, but that are "Not available to new applicants". So it isn't even that they don't have the capability as they offered term deposits online up to recently, supporting your contention that this is entirely deliberate strategy to make accessing the accounts as difficult as possible.
 
clinteastwood said:
whats their beef with not offering on-line ??
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No idea. On this page they say the following:

https://www.permanenttsb.ie/saving-and-investing/deposit-accounts/fixed-term-deposit-account/

How to Apply​

You can only open this account by attending one of our branches. It cannot be opened online or in-app.
You can make an appointment in any of our branches and submit your application with one of our team.
Call us to make an appointment.
 
Irish banks do not need more deposits and so are not offering savers rates that would entice savers to save with them
 
Irish banks are not treating depositors fairly, as required by the consumer protection code. Don't take my word for it, the Minister for Finance said as much today.
 
merid said:
That is ridiculous that PTSB does not offer those rates online. This is clearly a method of making it as difficult as possible to avail of the higher rates as its a major hassle now to get to talk to anyone in a bank nowadays
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The reason they want you in person to open these accounts is they will try and up sell you their tied investment products through Irish Life. That’s what they suggested when I was in branch.
 
I set up a ptsb regular saver account online about 8 months ago, it say its interest is 0.1%, do I need to set up a new regular saver to get the 1% rate or do they automatically apply the 1% rate to all their regular saver accounts?
 
Freelance said:
Irish banks are not treating depositors fairly, as required by the consumer protection code. Don't take my word for it, the Minister for Finance said as much today.
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He did indeed.

He also said that he has been in discussions with the NTMA and expects to see increases in the rates paid on State savings products in the coming weeks.

I would be very surprised if we don’t see material movement on deposit rates in the coming weeks.
 
Freelance said:
It's actually worse than it appears. if you look at the first page of the document I linked to, the bottom half of the page shows the ONLINE Fixed Term Deposit Accounts that were available previously, but that are "Not available to new applicants". So it isn't even that they don't have the capability as they offered term deposits online up to recently, supporting your contention that this is entirely deliberate strategy to make accessing the accounts as difficult as possible.
Click to expand...

When I went through that process they had the Irish equivalent of KYC (know your customer) that I went through opening accounts for crypto currencies.

Their contention is that to avoid fraud, they want to undergo this process in the bank - and it takes about an hour.

I was fine with it cause, well - it prevents fraud.
 
skrooge said:
There's no need to open a new account. Existing accounts have also received the increase.
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Not sure why you are quoting this comment here? Its relevant to somebody in another thread asking about setting up a regular saver account.
 
RedmondC said:
The reason they want you in person to open these accounts is they will try and up sell you their tied investment products through Irish Life. That’s what they suggested when I was in branch.
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@RedmondC we visited PTSB yesterday to enquire about opening the 3 yr 3% fixed term product for a significant sum. No sooner than we sat down were they trying to sway the conversation away from 3yr fixed to a 5 year Irish Life product. I asked them was the Irish Life product deposit guaranteed and they said no. I asked them why I couldn't open the 3yr fixed deposit online like they used to allow, she said she didn't know. I said perhaps to try and sell me Irish Life products? Got a blank stare in response!
 
I was pleasantly surprised when I went into PTSB bank yesterday to open 3 yr 3% fixed term product that I didn't get any sale pitch about investing my savings in an Irish Life product. It was pretty seamless and took about 20 mins all told.

It really is a shame that people leave so much sitting in a current account earning next to nothing.
 
WizardDr said:
It must be from the zillions they are spending on customer research that customers er want the benefit of the branch and sod the online stuff.
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We know that sitting all day and not getting exercise is bad for our health so PTSB is just trying to improve the health of the nation by forcing them to walk into their branches and queue for ages.
 
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