100 EUR when you switch current account to PTSB

JTMan · 16-09-2015 10:15pm #1

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 · 17-09-2015 7:39am

Thanks OP that was the push I needed

Loyalty never seems to pay in this day and age!

Crumbs868 · 17-09-2015 7:43am

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 · 17-09-2015 7:53am

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 · 17-09-2015 9:29am

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 · 17-09-2015 9:31am

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 · 17-09-2015 11:27am

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 · 17-09-2015 11:34am

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

Kimbot · 17-09-2015 11:35am

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 · 17-09-2015 11:38am

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 · 17-09-2015 12:00pm

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 · 17-09-2015 12:19pm

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 · 17-09-2015 12:33pm

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 · 17-09-2015 1:16pm

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 · 17-09-2015 1:45pm

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 · 17-09-2015 2:46pm

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 · 17-09-2015 4:34pm

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 · 17-09-2015 5:11pm

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 · 18-09-2015 9:05am

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 · 18-09-2015 10:28am

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 · 18-09-2015 10:45am

Awww, what about current customers?

ectoraige · 18-09-2015 1:12pm

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

Delta2113 · 18-09-2015 1:19pm

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 · 18-09-2015 1:54pm

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 · 18-09-2015 2:06pm

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 · 18-09-2015 6:44pm

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

18-09-2015 7:24pm

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? · 18-09-2015 7:54pm

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 · 18-09-2015 9:44pm

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 · 19-09-2015 4:45pm

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

salamanca22 · 19-09-2015 6:15pm

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

100 EUR when you switch current account to PTSB

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