100 EUR when you switch current account to PTSB

JTMan

PTSB are giving 100 EUR to those that switch to PTSB.

Full details of the offer are here.

To avail of the offer you have to switch both your credit card and current account to get the full 100 EUR. Otherwise, the reward is 50 EUR.

Switch your Current Account by submitting an Account Switching Form before the 8th November 2015 and complete the switch before the 13th December 2015.

We’ll give you a €100 cash bonus (€50 will be credited to your Current Account and €50 to your Credit Card before 31/12/15)

The PTSB current account has no day-to-day banking fees provided you deposit at least 1,500 EUR per month.

Unlike the KBC offer, this offer is not limited to students, it is open to all.

Monkeyjoe

Thanks OP that was the push I needed

Loyalty never seems to pay in this day and age!

Crumbs868

Anyone know if you will qualify for the €100 baded on following scenario:

Current account and credit card with BOI (which would both be moved to PTSB) but already have a joint account with PTSB?

peckerhead

Sounds like a 'new account' to me. PTSB would be very foolish to refuse to apply this to customers who already had another of their products. OH and I have a joint savings account and she a separate current account with BoI; I might try moving one of these over, pending a 'phone call to PTSB to verify (I also have a current and a savings a/c with PTSB in my own name, which could just as easily be transferred to KBC, if you know what I mean... )

I'll forego the extra €50 for giving them the credit card account because the cashback I get on my (AIB) Platinum VISA card adds up to more, every year.

mahoganygas

Looks good. I needed a kick up the arse to finally move my account.

Can anybody see any potential drawbacks with this deal?
Any issues with using PTSB?

I rarely use my CC, and pay it off monthly so i'm not bothered by the interest rate.

I've a small loan with AIB which should be paid off before Christmas. Once that's paid off I'm happy to cut my ties with them.

Seesee

I'm with them, moved a few years ago, no problems. However, I did hear that they were stopping the free banking for new customers so you might need to check that there's no time limited on the free banking.

blastman

I've been with them since they were Irish Permanent, not had any problems. The free banking is great, although I don't know if new customers still get that.

billbond4

+1 for PTSB switched from BoI about 10 years ago and a lot better service. Always recommend them as a Bank to people.

Kimbot

Just so everyone knows this is half way down the page

"There are a limited number of €100 bonuses available. Find out more about this offer in the Terms & Conditions, or see the Current Account page for more information."

andrew1977

I switched to Permanent TSB several years ago, a wise decision.
Hassle free banking, very helpful anytime I needed them + free banking.
I was getting ripped off by other banks for years.No more.

Sgt Pepper 64

peckerhead wrote: »

Sounds like a 'new account' to me. PTSB would be very foolish to refuse to apply this to customers who already had another of their products. OH and I have a joint savings account and she a separate current account with BoI; I might try moving one of these over, pending a 'phone call to PTSB to verify (I also have a current and a savings a/c with PTSB in my own name, which could just as easily be transferred to KBC, if you know what I mean... )

I'll forego the extra €50 for giving them the credit card account because the cashback I get on my (AIB) Platinum VISA card adds up to more, every year.

maximum award for each 12 month period is €225

Macer123

A colleague switched last year to PTSB & the process was a nightmare, took an age to get everything back to the way his previous accounts were set. Also I think his Credit card limit was seriously restricted compared to his previous bank. I know he wouldn't go down this route again, even for €100 !!

cython

Sgt Pepper 64 wrote: »

maximum award for each 12 month period is €225

So? It can still easily exceed the €50 on offer from AIB if you spend enough......

deathtocaptcha

great deal if you can get it... also just a note that if you don't have more than €1500 coming in to your account in any given month to qualify for fee free banking, you can simply set up a savings account (for free with them) and transfer funds back and forth in to your current account.

So let's say you have €1k going in to your current account each month... if you transfer 1 x €500 payment in to a savings account and back in to your current account, that qualifies you for fee-free banking..

if you only have €10 in your current account, you could transfer that €10 back and forth 150 times to also qualify for fee-free banking...

also on the subject of banking, KBC have by far and away the best interest rate for savings... they have quarterly fees but they also give you a free €25 if you set up a current a/c with them... if you have €10k+ in savings it's probably worth your while switching to KBC...

lotas

15 -> 18.4% on the credit card? AIB Click is still at 11 or something... still, keeping the click and moving bank might be a goer...

lmimmfn

Tried moving to PTSB 18 months ago, biggest PITA ive dealt with in years, moving bank was ok( bar the tonnes of documentation required ). HOWEVER moving and wanting to keep an existing OD facility was an awful experience, in fact i gave up and they just stopped contacting me( they were all over me when transferring just the bank account without OD ). My OD was only 1500 and i hadnt used it in years.

Just throwing it out there for guys that might need an OD facility also.

A Law

I switched this time last year. No problems.

Went in to my local branch and set up an appointment. They told me what to bring. Opened the account with an overdraft a few days later and received the documentation in the post within a week. Rang up all my direct debits and transferred them ( this is the worst part) Closed my aib account when they all came out of my ptsb account the next month.

Not sure that if u have to let their team do the switch for you here however.

SeamusFX

lotas wrote: »

15 -> 18.4% on the credit card? AIB Click is still at 11 or something... still, keeping the click and moving bank might be a goer...

I though one of the conditions of the AIB Click was you needed to have an AIB Current Account, although I'm not sure if that is just needed to initially get an AIB Click and I don't know if AIB could bump up your interest rates if you were to close your AIB Current Account?

lotas

SeamusFX wrote: »

I though one of the conditions of the AIB Click was you needed to have an AIB Current Account, although I'm not sure if that is just needed to initially get an AIB Click and I don't know if AIB could bump up your interest rates if you were to close your AIB Current Account?

Simple... keep your AIB current account, but dont use it... if they do compain, just cancel the account... if they dont want my business, i can move somewhere else... not happy with more interest, but, needs must...

SeamusFX

lotas wrote: »

Simple... keep your AIB current account, but dont use it... if they do compain, just cancel the account... if they dont want my business, i can move somewhere else... not happy with more interest, but, needs must...

The only problem with that is, if you keep your AIB current account, they will charge you quarterly fees even if you don't use it, unless you can keep a minimum €2,500 balance in it, which many won't be able to do including myself, especially if you're trying to maintain an active current account with PTSB and if you do have €2,500 laying around you don't readily need, I'm sure there are better investments you can find to do with your money since AIB won't be giving you any interest.

lulzordan

Awww, what about current customers?

ectoraige

Going to wait until my credit card application goes through first....

Delta2113

lulzordan wrote: »

Awww, what about current customers?

- What about us - we are customers - as long as they keep FREE banking I'll be happy.

BBMcQ

I switched in March and find them very handy compared to AIB. Much more modern account verification using your phone instead of a code card / reader and password/PIN resets are easy compared to AIB. I'm glad I made the switch and now I use my contactless card a lot instead of paying 10c per transaction or similar with AIB.

murphm45

Just an fyi for anyone considering doing this, you'll have to go on twice (at least an hour apart). It's to do with money laundering checks, it's only a mild inconvenience but handy to know about.

I moved to them 2 years ago so I'll happily be corrected if this has changed

bk

Damn, I moved to them just last month!

However I have to say the transfer couldn't have gone smoother, it was so simple!

Made an appointment, sat there for 30 minutes reading my phone as the lady typed up all the details for me, with me needing to do nothing but sign one or two docs. Left with my account set up and even online banking set up. She even offered me a €10,000 car loan there and then with no prompting (not that I needed it!).

A few days later at the appointed time, they automatically transferred over all my standing orders, direct debits, outstanding balance and closed my AIB account.

The only thing I had to do was tell work about my new bank details. Literally couldn't be easier.

I can't understand why everyone doesn't move, they offer:

- Free banking
- 1% interest on up to 1,500 in your account

I've my account with AIB and am sick of their quarterly fees.
My mortgage is with them too. Can I still switch even though my mortgage is with AIB?

Qwerty?

Switched to them over a year ago, Absolutely no hassle involved. Just wait until all your dd/so are paid from your new acc, before closing the old acc.

JTMan

TheTorment wrote: »

I've my account with AIB and am sick of their quarterly fees.
My mortgage is with them too. Can I still switch even though my mortgage is with AIB?

Yes.

FrStone

Would I have to pay off my bank of Ireland credit card before switching over to them?

salamanca22

Does anyone know how long it takes to transfer an account? Would I be without access to my cash for long?

lulzordan

FrStone wrote: »

Would I have to pay off my bank of Ireland credit card before switching over to them?

No, you can transfer your balance as well and get a few months with 0% interest on it. You can read about it here: https://www.permanenttsb.ie/whatweoffer/credit-card/ice-visa-credit-card/

bk

salamanca22 wrote: »

Does anyone know how long it takes to transfer an account? Would I be without access to my cash for long?

Your Permanent TSB account is opened immediately and you have access to internet banking immediately.

You then receive an ATM/Debit card a few days later.

You can transfer money from your old bank account to your new permanent TSB account online at anytime, though I wouldn't do that until you receive the ATM card.

If you opt to have them close your old bank account, then they will automatically transfer any money in the old account to your new PTSB account, but you don't have to wait, you can transfer the money yourself before the closing date, I did this.

All really easy and straight forward.

bk

TheTorment wrote: »

I've my account with AIB and am sick of their quarterly fees.
My mortgage is with them too. Can I still switch even though my mortgage is with AIB?

Yes, I did, mortgage, credit card, some savings accounts with AIB, but I closed my current account with them. No problem, even AIB online banking continues to work.

Just double check with AIB mortgage center that they have received the new direct debit mandate from PTSB. They did in my case with no issues, but no harm in double checking.

Kirsten Sassoon

blastman wrote: »

I've been with them since they were Irish Permanent, not had any problems. The free banking is great, although I don't know if new customers still get that.

Yeah, I have been with them since Irish Permanent and get free banking too, unless overdrawn.

However, now you have to have 1500 deposited every month to qualify.

I had a missed call from the local branch at 6pm last week, the first time I have ever received a call from them. Turns out it was my "Account Liaison Manager" wanting to advise me about new products. ANNOYING!

Far more annoying was the fact that I was just making an on-line payment and as I clicked "Confirm Payment" I got logged out with a PTSB message saying not to worry, they log you out now and then for security reasons. Not good.

Tusky

I just got a letter from AIB telling me that my account was changing from a Graduate account to a regular account and I will now have to pay fees. I'm tempted by this but the only thing that turns me off is that more people are AIB, which is handy for instant transactions.

How is PTSB internet banking? Do their cards work at all machines?

bk

Kirsten Sassoon wrote: »

However, now you have to have 1500 deposited every month to qualify.

True, but unlike the other banks you don't have to keep the money in the account in order to qualify for the free banking, you can remove the money immediately after.

So you can just have your wages paid into your account or you can even just set up a direct debit to transfer the money monthly from a savings account and then transfer it straight back to the savings account.

I know not possible for everyone, but it should cover most people. Far better then having to keep €2,500 permanently in your AIB account in order to qualify for free banking!

Kirsten Sassoon wrote: »

I had a missed call from the local branch at 6pm last week, the first time I have ever received a call from them. Turns out it was my "Account Liaison Manager" wanting to advise me about new products. ANNOYING!

All banks do that, you opted in to marketing when you signed up for the account. You most not have noticed or understood what it meant when you signed up to the account and checked the box. You could have opted out of marketing at that stage.

When they call next time simply ask them to opt you out of their direct marketing database and they won't contact you again.

Tusky wrote: »

How is PTSB internet banking? Do their cards work at all machines?

I switched from AIB to PTSB a few weeks ago, so I can probably help.

Yes, their ATM/Visa Debit cards work at all ATM's, same as AIB and are also contactless payment cards and work around the world at the vast majority of machines (Visa).

Their online banking and mobile banking apps are fine and modern, better then the old AIB online/mobile banking, but not as good as the new AIB online banking website and mobile app that they launched in the last 3 months. Basically AIB have leapfrogged them.

It definitely isn't a major deal, just I'd like to see them update their mobile app to be more like the new AIB app or even better the Ulsterbank app.

The PTSB app asks you to enter your customer number, full password and 3 digits of your 6 digit PIN to log in, which is a pain to enter every time on the phone.

The new AIB app allows you to view your account balance without even logging in and you only have to enter 3 digits of your 6 digit pin to log in. MUCH easier.

The best is the ulsterbank iphone app, that uses touch ID when available to log in super quickly. Brilliant for keeping up with you account.

I know not a big deal, it is worth giving up on these for free banking, but I do hope PTSB update their app with similar functionality in future.

On the other hand I much prefer the way PTSB send numbers by text to your phone for 2 factor authorization, much easier then the complicated card reader AIB give you.

Small differences on the whole, I'm very happy having changed. No more being ripped off by AIB.

guil

Thanks BK. I've just started the process to switch from AIB as well so it's good to get some feedback. I really like the new app AIB released recently but I suppose it isn't the end of the world.

Nervous Wreck

bk wrote: »

The new AIB app allows you to view your account balance without even logging in

Surely that's in violation of the data protection act?!

bk

Nervous Wreck wrote: »

Surely that's in violation of the data protection act?!

How would it be?

First of all, it is completely optional, you have to specifically opt into it in the settings.

Obviously I wouldn't recommend it if you leave your phone unlocked with out a passcode of some sort.

However if you have your phone encrypted, and use a passcode or even better touch id (fingerprint scanner), then really it is super secure.

And even at that worst case scenario someone could find out the balance of your account, not exactly NSA level secrets there! They can't withdraw or do anything with you internet banking passcode.

If you think about, go look at the little bin on some ATM machines full of receipts with peoples balances on them, far less secure then touch id encrypted phone.

rogieop

Im sick of AIB and their fees aswell.

I have an overdraft with aib though, if i want to transfer to PTSB and avail of the offer do i need to pay that off first?

bk

rogieop wrote: »

I have an overdraft with aib though, if i want to transfer to PTSB and avail of the offer do i need to pay that off first?

Probably, but talk to PTSB, they may give you an overdraft or loan to cover it.

Boots234

I opened an account on Monday to avail of this deal and to get away from BoI fees. Very smooth process really once you have your ID, proof of address and current account/credit card statements. The head office contacted me today to stay that the current account had been opened successfully and that all of my direct debits and standing orders would be switched on Monday. All I have to do is contact Vodafone and Sky to change my debit details with them as they are based in the UK (the Sky details can actually be changed online on MySky). They also said that as the switching process was taking place on Monday and the BoI account was being closed that I should take out enough cash over the weekend to last until Tuesday/Wednesday so that I the money will have transferred into the newly opened account and I should have the new debit card by then also. Can't really complain so far apart from the app having a much less user-friendly login process!

guil

My account was opened last Friday and I received the card and pin this morning, probably a little disruption from the post issue.

newacc2015

FYI if you plan on applying for a mortgage in the future. DONT switch your credit card. One of the elements of a credit score is how long you have had a line of credit open eg a credit card. If you close your credit card with say AIB to open one in PTSB, it will reduce your credit score

bk

newacc2015 wrote: »

FYI if you plan on applying for a mortgage in the future. DONT switch your credit card. One of the elements of a credit score is how long you have had a line of credit open eg a credit card. If you close your credit card with say AIB to open one in PTSB, it will reduce your credit score

That isn't true at all!

They look at your complete credit history, which includes all credit cards, loans, etc. with all banks, not just the bank you are applying to for the mortgage.

I use to frequently change my credit card (like every 9 months) in order to get the best deals and I had no problem getting a mortgage.

The key is too pay off your credit card in full every month and thus prove you are a good credit risk. Not how long you had it.

BTW Another minor niggle I've discovered with PTSB versus AIB, is that with PTSB you have to decide to either get your statements by post or as estatements, you can't have them as both, like you can opt to do with AIB.

I really hope they update their iphone app soon with touch id login support like the Ulster Bank app, that is so much more convenient to keep track of your account balances. The PTSB app works, but it looks seriously out of date and old fashioned compared to the modern new AIB and Ulster Bank apps. Not good in our modern world of mobile users. I assume they are working on a major upgrade, fingers crossed.

Also it is a real pity they don't have a Talk To forum here on boards like AIB, KBC and BOI. Would be good for them to show themselves as a modern young tech and socially savy company. I have to say KBC is doing a great job at that.

BTW One last thing, I notice they now only support buying credit for Vodafone and Meteor online, no Three/02, Tesco, ID, etc.

Edit: Wow, it turns out Ulster Bank even supports the Apple Watch! Seems they have a fantastic app development team:

http://digital.ulsterbank.ie/personal/ways-to-bank/mobile-banking/apple-watch.html

lulzordan

bk wrote:

BTW One last thing, I notice they now only support buying credit for Vodafone and Meteor online, no Three/02, Tesco, ID, etc.

They used to accept O2, I guess with the merger they removed the service and/or are working with 3 to bring it back and include them as well.

Also you can always download your transaction history from the website, unless they have changed it

bk

lulzordan wrote: »

They used to accept O2, I guess with the merger they removed the service and/or are working with 3 to bring it back and include them as well.

Yes, I expect so. For a while they had a message on their site about how you could top up if you were a former o2 customer but not a former three customer or something like that. But I'm sure that caused a lot of confusion and customer support calls, so they are probably right to remove it completely until Three sort out their mess. However no excuse not to have Tesco, etc.

lulzordan wrote: »

Also you can always download your transaction history from the website, unless they have changed it

You are right, they do still have the ability to download your transactions as PDF or spreadsheet. However a list of transactions is different (less official) from an actual statement.

AIB allows you to download estatements, download transactions and still get paper statements at the same time. They used allow this in the past, having the same restriction as PTSB, but they loosened up on that and I hope PTSB do the same.

One final niggle, PTSB has text notifications, for instance when a large withdrawal is made. However they don't say how much was withdrawn or by whom!

So basically you get a text saying there was a large withdrawal and you then have to try and log into their mobile app with the customer number, password and 6 digit PIN to look it up!! A very inconvenient process.

Ulster bank on the other hand display the amount in their text notifications and you can even request your account balance by text. AIB doesn't have text notifications, but they do have email notifications and they also include the actual amount.

Much more convenient. Now I realise some people might be concerned about privacy, but I think that is why it should be an option if the actual amounts or displayed or not.

unkel

bk wrote: »

Wow, it turns out Ulster Bank even supports the Apple Watch! Seems they have a fantastic app development team:

http://digital.ulsterbank.ie/personal/ways-to-bank/mobile-banking/apple-watch.html

And they recently launched a very decent Windows Phone App

That's one of the main reasons I'm not switching at this point. Although a free €50 is always tempting

FrStone

Anyone ever get the hundred quid?

Elessar

bk wrote: »

I really hope they update their iphone app soon with touch id login support like the Ulster Bank app, that is so much more convenient to keep track of your account balances. The PTSB app works, but it looks seriously out of date and old fashioned compared to the modern new AIB and Ulster Bank apps. Not good in our modern world of mobile users. I assume they are working on a major upgrade, fingers crossed.

They're not, I asked. I agree the app is horrendous but they won't be replacing it anytime soon. All it is is their mobile website wrapped in a phonegap package, it's not even a proper native application. All you're doing is essentially opening a browser to their mobile site when you use the app. It's cheap and making a native app with touchid etc. would require a significant investment. Personally, I'm looking at moving to Number26 as my bank