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Is Switching from AIB to Permanent TSB worth it?

Seabhac14

So, I'm getting kind of fed up of AIBs quarterly charges, maintenance fees, 0.35 for cash withdrawals and 0.20 charge each time you use the pin, plus all their recent malarky with going cashless with several branches lately. Essentially, AIB look like thieves at this rate.

So naturally, switching to Permanent TSB for a current account looks more appealing with a 6 euro flat rate for maintenance but paying you back 10 cent each time you use your debit, and virtually no other fee for withdrawls, lodgements, transfers and that. So as long as I keep using my debit card as much as possible then I can offset the maintenance fee and possibly earn back money too.

But of course, there is that saying that the devil comes handsome. So I wanted to ask if anyone has switched over to PTSB and used them before? Is it worth it or are there any qualms you might have had or feel are worth sharing?

Also, does PTSB have other accounts you can open likeAIBs demand deposit account for savings and such on top of current accounts?

Thanks.

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[Deleted User]

PTSB charges 6e a month but you get a max of 5 back for using your card

Tio07

Left AIB 3 months ago because of fees and moved to PTSB, not only do PTSB give you back on on debit transactions they also give you cash back on bills such as sky. So I’m getting a credit of over 8 euro p/m minus the 6e flat fee which I think is great

Seabhac14

https://www.boards.ie/discussion/comment/119370521#Comment_119370521

Yup, knew that already. Plus how PTSB doesn't have fees for withdrawls, lodgements and such. I meant more about any other potential issues with them to be aware of or if switching to them from AIB is really worth it at the end of the day? Just want to know what waters I'm getting into here.

Seabhac14

https://www.boards.ie/discussion/comment/119370566#Comment_119370566

Bitchin'! Sounds like a dream.

I should have mentioned as well that I've been hearing that PTSBs online features and mobile app aren't quite as sharp as that of AIB or others. What's your take on that?

ben.schlomo

I made the switch about 3/4 years ago. Was sick of Aib and their exorbitant fees. Only issue I e had was the service over the phone being very lengthy when needed. Other than that they're grand, just cheaper than being with Aib. The banking app works fine for me on the phone, no issues.

Trampas

Never had an issue with their app and I’m a customer years. The old switcher account and still getting free transactions

Seabhac14

Awesome. Thanks for the reassurance, guys.

Eggs For Dinner

PTSB's online is far superior to AIB in my opinion. I use both

AngryLips

I use both banks and I find them broadly comparable. The PTSB app recently has had latency issues but I feel like they might have fixed that in the most recent update. Another thing to note, I find that payments take a bit longer to credit into my account than with AIB, and that's because they're not a clearing bank. So if you want your salary in your account first thing in the morning, it might be closer to lunchtime with PTSB ...but that's just a minor non-issue for me

Royale with Cheese

I'm with KBC and hadn't got round to opening a new current account yet. I was going to switch to AIB as I have a company account there and used to be with them before being forced to switch to KBC when I got a mortgage through them. I actually hadn't even considered fees, I'm so used to just paying a flat nominal amount with KBC once I keep my balance high enough. Have gone with PTSB now after reading this. I had a deposit account with them already so was able to setup a current account in a couple of minutes, in hindsight they were probably the obvious choice. Also in hindsight the fees on my business account with AIB are outrageous and I should probably look at moving that account now too.

dulpit

Switched to PTSB from KBC recently. All good really. The app isn't as good as KBC's. I haven't seen AIB's, but my wife is BOI and I prefer the PTSB app. Only issue I've had is that I get asked to enter PIN fairly frequently when using contactless, which is especially irritating when using Google Pay.

Oh also - when I switched I got the bank to switch my direct debits. They missed most of them, so keep that in mind when switching.

Seabhac14

https://www.boards.ie/discussion/comment/119372404#Comment_119372404

Oh God, yeah. I'll need to keep all my direct debits for my Vodafone and such in mind when I do switch. Thanks for reminding me of those.

Cape Clear

TSB also gives cashback for Airtricity payments as well as Sky. One issue I find you need to be on a PC /Laptop if you need to add a new beneficiary or to reset your account.

macvin

https://www.boards.ie/discussion/comment/119372350#Comment_119372350

If you are with KBC, then simply switch to BUNQ. Took me less than 10 minutes (had ID and proof of address ready).

I went though my standing orders and direct debits, created a list, switched them all over a few days. Some could be done online, some by phone and a couple by posting in a form. 3 Months in and it's as good as it makes it out to be.

€2.99 a month, mastercard debit card (with credit card features), Irish IBAN and very good customer service.

macvin

https://www.boards.ie/discussion/comment/119372404#Comment_119372404

Haven't had to enter pin yet for contactless with BUNQ. They use push notifications of all expenditure within seconds of the transaction. So anything untoward can be stopped immediately