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Permanent TSB

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  • 11-10-2010 1:59pm
    #1
    finnteme
    Registered Users Posts: 970 ✭✭✭


    I have been living in Ireland almost 2.5 years, and switched my account to Permanent TSB after Halifax closure.

    I went last thursday, and asked, if there is a possibility to have a small overdraft, and i was told, that i need to bank 3 years with all Irish banks, before i can get granted credit facilities, and it was blank no for further discussions.

    Can this be true? Sounds very strange, i have a job that pays quite well, i never had a loan etc, have always paid my bills etc on time.

    I have been living in Finland, Sweden and Netherlands, and they all gave me credit facilities after 6 months. Is this really so different in Ireland?


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    #2
    deandean
    Registered Users Posts: 2,233 ✭✭✭deandean


    In my experience TSB is a small, mean bank that think small and treats it's customers badly (OK, slightly worse thank the other banks).

    You may get better service from BofI or AIB. Why don't you call into one of those, explain your situation and see if they'll give you better service.

    Best of luck.


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    #3
    Ogham
    Registered Users Posts: 1,844 ✭✭✭Ogham


    After moving here from the UK - we had no problem getting a credit card from Ulster Bank after less than 6 months.

    Try Ulster (Free Banking too)


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    #4
    pow wow
    Closed Accounts Posts: 5,288 ✭✭✭pow wow


    +1 PTSB seem far more pernickety than any other banks I've dealt with here. When I moved back from the UK to work for them they wouldn't give me a debit card on my staff account until I'd been banking with them for x amount of time (whereas BOI gave me one right off), in spite of me having years of UK bank statements and depositing the proceeds of my house sale into my account with them.

    I'd try another bank if I were you, PTSB are easily the worst I've dealt with by far in terms of having moved here from the UK.


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


    All banks have tightened up considerably in the last while, but PTSB especially so.


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    #6
    AngryLips
    Registered Users Posts: 2,705 ✭✭✭AngryLips


    Isn't PTSB the only bank not to require a Government bailout when the credit crisis hit? Maybe your declined overdraft was a big reason why... :rolleyes:


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    #7
    dotsman
    Registered Users Posts: 3,636 ✭✭✭dotsman


    AngryLips wrote: »
    Isn't PTSB the only bank not to require a Government bailout when the credit crisis hit? Maybe your declined overdraft was a big reason why... :rolleyes:

    Or maybe it's because they focus on consumer credit and aren't really involved in large businesses, therefore, didn't have any large exposure to property development loans. However, they probably have the worst exposure to the home loan market as they were the champions of 100% mortgages, and were the largest player in the FTB segment during the the final years of the boom.


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    #8
    AngryLips
    Registered Users Posts: 2,705 ✭✭✭AngryLips


    No. I'm pretty certain their decision to refuse the OP an overdraft was instrumental in the bank avoiding a Government bailout


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    #9
    Kennie1
    Registered Users Posts: 302 ✭✭Kennie1


    dotsman wrote: »
    Or maybe it's because they focus on consumer credit and aren't really involved in large businesses, therefore, didn't have any large exposure to property development loans. However, they probably have the worst exposure to the home loan market as they were the champions of 100% mortgages, and were the largest player in the FTB segment during the the final years of the boom.
    I may stand corrected here but I thought it was ulster bank that brought in 100% mortgages:confused:Sorry UB if I am wrong!!!
    Anyway I here that free banking is almost at an end and that PTSB is bringing in a standard charge of €35.00p.a. in the new year, Anyone else here that???


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    #10
    dotsman
    Registered Users Posts: 3,636 ✭✭✭dotsman


    Kennie1 wrote: »
    I may stand corrected here but I thought it was ulster bank that brought in 100% mortgages:confused:Sorry UB if I am wrong!!!
    Anyway I here that free banking is almost at an end and that PTSB is bringing in a standard charge of €35.00p.a. in the new year, Anyone else here that???
    I think you'e right that they weren't the first, but they were by far the biggest.

    The truth is that 100% mortgages were around for ages (and technically still are). It's just that they were for the rare exception as opposed to the standard and were never advertised. I think it might have been FA who first started promoting them (or perhaps UB - they're all the same now!), but PTSB was, by far, the biggest lender of them.

    With regards the end of free banking, yes it was on another thread recently that they have brought in a whole load of conditions (compared to BOI/AIB's minor ones). To be honest, it has to end at some stage. Loss-leader products are only ever meant to be promotional. The fact that they have lasted so long is crazy.


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