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Open PTSB Explore Current Account without switching?

  • 08-11-2020 4:32pm
    #1
    Neuro
    Registered Users, Registered Users 2 Posts: 459 ✭✭


    Hi,


    In order to avail of PTSB's 2% monthly cashback on their mortgage offerings, customers are required to make monthly repayments from their Explore current account.


    Is it possible to open an Explore current account without switching my existing current account?


    Neuro


Comments

  • #2
    JTMan
    Registered Users, Registered Users 2 Posts: 5,558 ✭✭✭JTMan


    Yes.

    You can have as many current accounts, with different banks, as you wish.

    You will obviously need to transfer money from your existing current account to the PTSB Explore Current Account before the mortgage payment does from your PTSB Explore account.


  • #3
    EverythingGood
    Registered Users, Registered Users 2 Posts: 2,003 ✭✭✭EverythingGood


    Neuro wrote: »
    Hi,


    In order to avail of PTSB's 2% monthly cashback on their mortgage offerings, customers are required to make monthly repayments from their Explore current account.


    Is it possible to open an Explore current account without switching my existing current account?


    Neuro

    No. I moved from a regular PTSB account to an Explorer and had to go in to a branch and phyiscally apply and sign and close the old one.


  • #4
    Sunrise_Sunset
    Registered Users, Registered Users 2 Posts: 1,215 ✭✭✭Sunrise_Sunset


    I opened an explore account for the same reason. We didn't do the switch, we wanted to keep our account with the other bank open as we were getting benefits from it that we used regularly. It's good to switch as many DD's and transactions to explore as possible though as every time you use your debit card you get 10c cashback up to 5 euros per month. This almost cancels out the monthly fee of 6 euros.


  • #5
    gandalf
    Registered Users, Registered Users 2 Posts: 26,458 ✭✭✭✭gandalf


    We opened one last December when we drew down our mortgage with PTSB. I still have my AIB current account and the missus still has hers with BOI. We transfer money in every month for the mortgage repayment and anything to do with the house. Technically we are using it as the house current account.


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