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New PTSB current account [was: PTSB €1500 a month? Should I open an account?]

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    #182
    dobsdave
    Closed Accounts Posts: 1,814 ✭✭✭dobsdave


    New cards April-July this year.

    FAQ here https://www.permanenttsb.ie/about-us/need-help/productsupport/contactless-visa-debit-card-faqs/#Question1

    Delta2113 wrote: »
    https://www.permanenttsb.ie/whatweoffer/current-accounts/bank-cards-guide/contactless-visa-debit-card/

    It just keeps getting better with PTSB.


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    #183
    Davy
    Moderators, Category Moderators, Business & Finance Moderators, Technology & Internet Moderators Posts: 19,340 CMod ✭✭✭✭Davy


    Good news for anyone with a personalised card in the last two years

    I currently have a personalised card. Will my new Contactless Visa Debit Card have my personalised image?

    If your card was personalised in the last two years, you will receive your new card with your personalised image. If your image is older than 2 years, unfortunately you will need to provide it to us again.


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    #184
    whitelightrider
    Registered Users Posts: 3,099 ✭✭✭whitelightrider


    Ive been with BOI for years now and Im getting a little tired of having to keep paying their fees.
    Is there much to switching over to PTSB, and is there any problems around changing Standing orders and Direct Debits?


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    #185
    homer911
    Registered Users Posts: 5,114 ✭✭✭homer911


    whitelightrider wrote: »
    Ive been with BOI for years now and Im getting a little tired of having to keep paying their fees.
    Is there much to switching over to PTSB, and is there any problems around changing Standing orders and Direct Debits?

    Its all here:
    https://www.permanenttsb.ie/switch-to-us/

    When I switched I took charge of the process myself but they seem to have it well covered..


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    #186
    Delta2113
    Registered Users Posts: 2,678 ✭✭✭Delta2113


    On PTSB Open 24 page it says that in order to get a cheque book for the first time you must phone them. Any idea why?


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    #187
    Nervous Wreck
    Closed Accounts Posts: 16,115 ✭✭✭✭Nervous Wreck


    Delta2113 wrote: »
    On PTSB Open 24 page it says that in order to get a cheque book for the first time you must phone them. Any idea why?

    At a guess, I'd say maybe so they can be sure to mention GSD and confirm postal address? I've never used cheques but that'd be my best guess.


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    #188
    Delta2113
    Registered Users Posts: 2,678 ✭✭✭Delta2113


    Hope your correct. I hope I don't have to call into my local branch because if so they could mention this. Wording below from website:-

    "Before you order your cheque book you should know the government charges 50 cent Stamp Duty per cheque ordered. Our cheque books come with 40 cheques, so this means you'll be charged €20 Stamp Duty.

    It can take up to 6 working days for your new cheque book to arrive.

    If you've never ordered a cheque book from us before you'll need to call us on 1890 500 121."


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    #189
    hfallada
    Closed Accounts Posts: 4,180 ✭✭✭hfallada


    Delta2113 wrote: »
    On PTSB Open 24 page it says that in order to get a cheque book for the first time you must phone them. Any idea why?

    Probably hoping you dont follow through on ordering it. They are ridiculously expensive for banks to process. I think around €3 to process and if you have free banking, they are going to lose a far amount on 40 cheques


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    #190
    Delta2113
    Registered Users Posts: 2,678 ✭✭✭Delta2113


    Straight forward enough to order a cheque book with PTSB after getting through the options press 1 or 2 etc. on the phone.

    Agent had me in a bit of a panic for a minute when they said I'll go check and see if it goes to your bank branch (ah no seriously) or your home address.

    Thankfully it's my home address.


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    #191
    Delta2113
    Registered Users Posts: 2,678 ✭✭✭Delta2113


    I received my cheque book on Friday. As well as the forty cheques, it includes 3 bank giro credit transfer forms with my name and account details already printed on them.


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    #192
    dobsdave
    Closed Accounts Posts: 1,814 ✭✭✭dobsdave


    Delta2113 wrote: »
    I received my cheque book on Friday. As well as the forty cheques, it includes 3 bank giro credit transfer forms with my name and account details already printed on them.

    How much were you charged from your account in duty? is it per book or cheque?


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    #193
    Delta2113
    Registered Users Posts: 2,678 ✭✭✭Delta2113


    PTSB cheque books come with 40 cheques, so this means you'll be charged €20 Stamp Duty to your Current Account with almost immediate effect after ordering.


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    #194
    Harry Palmr
    Closed Accounts Posts: 40,061 ✭✭✭✭Harry Palmr


    I just got my new "contactless" debit card, its got a sticker on it "Important - Activate your card now at any ATM in ROI" can I peel this off? It looks quite stuck on.


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    #195
    BuffyBot
    Moderators, Motoring & Transport Moderators Posts: 24,924 Mod ✭✭✭✭BuffyBot


    Harry Palmr wrote: »
    I just got my new "contactless" debit card, its got a sticker on it "Important - Activate your card now at any ATM in ROI" can I peel this off? It looks quite stuck on.

    You're meant to take it off. It is just for information :)


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    #196
    Harry Palmr
    Closed Accounts Posts: 40,061 ✭✭✭✭Harry Palmr


    Well that's what i thought but better to get a second opinion!


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    #197
    bush
    Closed Accounts Posts: 2,878 ✭✭✭bush


    Anyone know if the ptsb student continues for awhile after you graduate?


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    #198
    JTMan
    Registered Users Posts: 5,539 ✭✭✭JTMan


    Continues till they catch you or you tell them.


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    #199
    Cian59
    Registered Users Posts: 119 ✭✭Cian59


    Looking to apply for a credit card with PTSB. However, still on my old student account and I'm sure it'll be noticed the minute I apply. Don't know whether to apply or not.

    My salary is lodged monthly and is well over the 1500 minimum for free banking so don't think it will make much difference. Am I missing something here or should I go ahead and apply?


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    #200
    pasquale83
    Registered Users Posts: 477 ✭✭pasquale83


    Cian59 wrote: »
    Looking to apply for a credit card with PTSB. However, still on my old student account and I'm sure it'll be noticed the minute I apply. Don't know whether to apply or not.

    My salary is lodged monthly and is well over the 1500 minimum for free banking so don't think it will make much difference. Am I missing something here or should I go ahead and apply?

    With a monthly lodgement of at least 1500 euro the bank account is completely free. You shouldn't see any difference with your actual student account.


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    #201
    DamienOB
    Registered Users Posts: 209 ✭✭DamienOB


    I have a PTSB account a few years now. I've recently started to lodge (& withdraw) my 1500 quid minimum balance to avoid the fees.

    Today I received my statement. "€12 fees are due to be taken in the next 14 days". So I rang Open 24.

    After a 15 minute call and a few holds, I was told that in the "quarter" there needs to be something to do with €3000 (didn't hear this bit correctly as she was getting told what to say by either her manager or a colleague), a minimum of 18 POS card transactions and 1 open24 transaction (Assuming bank transfer)

    Has anyone else come across this? I was under the impression it was lodge €1500 and thats it?


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    #202
    Nervous Wreck
    Closed Accounts Posts: 16,115 ✭✭✭✭Nervous Wreck


    DamienOB wrote: »
    I have a PTSB account a few years now. I've recently started to lodge (& withdraw) my 1500 quid minimum balance to avoid the fees.

    Today I received my statement. "€12 fees are due to be taken in the next 14 days". So I rang Open 24.

    After a 15 minute call and a few holds, I was told that in the "quarter" there needs to be something to do with €3000 (didn't hear this bit correctly as she was getting told what to say by either her manager or a colleague), a minimum of 18 POS card transactions and 1 open24 transaction (Assuming bank transfer)

    Has anyone else come across this? I was under the impression it was lodge €1500 and thats it?


    The account they currently have is a €1500 lodgement to avoid fees. The previous account they offered has different criteria (€3000 lodged per quarter, 18 debit transactions per quarter and at least 1 transfer on the website per quarter). I have this account type but I do all that stuff each quarter anyway so it hasn't affected me negatively at all. My missus called them about same a while back and they upgraded her to the new. (€1500 /month) account. I should really do that actually....


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    #203
    Delta2113
    Registered Users Posts: 2,678 ✭✭✭Delta2113


    http://www.independent.ie/business/personal-finance/latest-news/ptsb-set-to-abandon-free-banking-for-new-customers-31380725.html


    - Still no sign of this happening - don't always believe what you read in the papers.


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    #204
    JTMan
    Registered Users Posts: 5,539 ✭✭✭JTMan


    Delta2113 wrote: »
    http://www.independent.ie/business/personal-finance/latest-news/ptsb-set-to-abandon-free-banking-for-new-customers-31380725.html


    - Still no sign of this happening - don't always believe what you read in the papers.

    I bet Charlie Weston was told by PTSB that PTSB were planning fees. I bet PTSB changed their mind.

    PTSB had an outflow of 1 billion EUR in deposits in H1 2015, far more than they expected due to deposit rate cuts. The same probably continued into H2 2015. This has probably made PTSB realise that they need to find ways to attract new customers to stop further outflows causing ending free banking to go off the table.

    Now that KBC and Number 26 offer free banking, the chances of PTSB stopping free banking have been reduced.


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    #205
    Delta2113
    Registered Users Posts: 2,678 ✭✭✭Delta2113


    Just checked my PTSB current a/c and was stopped the €5 Government ATM/POS charge. Is this correct? Works in arrears so charge for 2015?

    Obviously from now on we only have the 12 cent ATM charge and capped at €5.


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    #206
    Delta2113
    Registered Users Posts: 2,678 ✭✭✭Delta2113


    Notice to Users of permanent tsb Non-Euro Drafts

    22 December 2015

    Please note that as and from the 01 March 2016, we will be increasing the charge for Non-Euro Drafts from €3 to €6.50. This charge will be deducted from the customer‘s current account immediately on the purchase of each Non-Euro Draft in the branch.

    Just a heads up -see above info.


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    #207
    pasquale83
    Registered Users Posts: 477 ✭✭pasquale83


    Delta2113 wrote: »
    Just checked my PTSB current a/c and was stopped the €5 Government ATM/POS charge. Is this correct? Works in arrears so charge for 2015?

    Obviously from now on we only have the 12 cent ATM charge and capped at €5.

    I have been charged, so it doesn't work in arrears.


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    #208
    Delta2113
    Registered Users Posts: 2,678 ✭✭✭Delta2113


    "When is the stamp duty collected?

    Stamp duty is collected in arrears. For example, you can expect that the stamp duty arising in the calendar year 2013 will be charged to your account on 31 December 2013." - source revenue.ie

    So basically you have been charged for 2015. Next time it will be for each atm withdrawal and capped at €5.

    I would keep an eye on your account. last year PTSB charged me €5 even though I only used the POS function. I complained and eventually got back €2.50.


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    #209
    cefh17
    Registered Users Posts: 990 ✭✭✭cefh17


    I started the account opening process over the weekend as well as opening a Number26 account to avoid the ridiculous BOI fees when my account switches over in February. What I'm wondering is, does the €1,500 amount have to be painted throughout the quarter each month to avoid the fees or once at least that amount has been lodged the full amount in theory can be transferred to a different bank?

    Also, is it per calendar month or from date of the account opening that the monthly transfer is gauged?

    Thanks in advance :)


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    #210
    _Kaiser_
    Registered Users Posts: 28,754 ✭✭✭✭_Kaiser_


    cefh17 wrote: »
    I started the account opening process over the weekend as well as opening a Number26 account to avoid the ridiculous BOI fees when my account switches over in February. What I'm wondering is, does the €1,500 amount have to be painted throughout the quarter each month to avoid the fees or once at least that amount has been lodged the full amount in theory can be transferred to a different bank?

    Also, is it per calendar month or from date of the account opening that the monthly transfer is gauged?

    Thanks in advance :)

    As long as you lodge €1500 to the account each month you won't be charged fees. That money/balance doesn't have to be maintained in the account either so you can certainly transfer it around as you wish (or pay bills with it like I do :))


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    #211
    cefh17
    Registered Users Posts: 990 ✭✭✭cefh17


    _Kaiser_ wrote: »
    As long as you lodge €1500 to the account each month you won't be charged fees. That money/balance doesn't have to be maintained in the account either so you can certainly transfer it around as you wish (or pay bills with it like I do :))

    Perfect thanks, just waiting on the documents now to have it all wrapped up! Screw paying fees. Number26/PTSB be praised :)


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