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PTSB Banking may not be that free anymore.

Comments

  • #2
    BuffyBot
    Registered Users, Registered Users 2 Posts: 24,924 ✭✭✭✭BuffyBot


    A ridiculously high bar, and they know that. Explains why they were being so selective about giving out Switch accounts in the last few months however.


  • #3
    chris85
    Registered Users, Registered Users 2 Posts: 4,502 ✭✭✭chris85


    Thats a lot of criteria for someone who is possibly not working. People working full time would probably not have a problem meeting these criteria most likely.

    Its a clear intention that they only want working people on their books. The lodgment criteria is a bit above normal social welfare income. Its no secret banks have lost lots of money on free everyday banking and they always made it up by upselling other products (loans, credit cards, deposit accounts) so no suprise to be honest that they are doing this.

    Its getting harder and harder for people to open a current account nowadays.


  • #4
    busman
    Registered Users, Registered Users 2 Posts: 306 ✭✭busman


    How to qualify for free everyday transactions

    Quarterly Account Maintenance fee of €12.00 applies. You may be exempt from paying the Account Maintenance fee by meeting each of the following conditions: Lodgement(s) amounting to at least €3,000 made to your account each quarter (allowance is not made for cheques, drafts or other credits lodged until value has been received), 18 card purchases on your account each quarter, 1 financial transaction made through Open24 telephone and internet banking, and you must keep your account within agreed limits (e.g. if you exceed your authorised overdraft you’ll be charged the Account Maintenance fee).

    An Open24 financial transaction is deemed to be a Funds Transfer (credit or debit) or Bill Payment (utility or non-utility). These criteria may change in the future.

    Reading the above "The Nitty Gritty" it all sounds daft!
    What if I lodge €100 at counter at branch, walk outside to ATM, withdraw €100, return to counter and lodge the €100 again, repeat 28 times!
    How much is that going to cost them!!!

    They just sent me a VISA debit card today!
    I'm sure they will have to let me know if there are going to change the terms of my account?


  • #5
    BuffyBot
    Registered Users, Registered Users 2 Posts: 24,924 ✭✭✭✭BuffyBot


    I'm sure they will have to let me know if there are going to change the terms of my account?

    This is for new accounts, not exisiting customers.


  • #6
    Xiney
    Registered Users, Registered Users 2 Posts: 8,085 ✭✭✭Xiney


    chris85 wrote: »
    Thats a lot of criteria for someone who is possibly not working. People working full time would probably not have a problem meeting these criteria most likely.

    We applied back in May for a Switch Account and we didn't qualify - my husband is employed full time and was the primary applicant. I suppose my employment status was the issue.

    We went with Ulster bank instead, since they have an account that has no fees and there was no problem qualifying for it.


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