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Switch account with existing overdraft

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  • 11-06-2013 9:58pm
    #1
    highly1111
    Registered Users Posts: 967 ✭✭✭


    Hi

    May be a stupid question but I would be appreciative if someone can answer this for me.

    We're with BOI and want to transfer our accounts to PTSB as we would meet the criteria for no-fees. I've been on the PSTB website and saw about the switch buddy and what we need to do.

    However, there is a small enough overdraft on my personal account (a couple of hundred) and an overdraft of about €1500 on our joint account.

    The question is - will PTSB let us switch and provide us with the same overdraft facility? We don't have the funds to close the overdraft facilities with BOI before making a switch? I assume that PTSB would need to do an ICB check etc?

    Thanks for any advice.


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    #2
    Nervous Wreck
    Closed Accounts Posts: 16,115 ✭✭✭✭Nervous Wreck


    Literally no one can answer this but Ptsb. You can read people speculating on here for 20 posts if you want but really, you'd save yourself a lot of time by just calling them and asking outright.


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    #3
    highly1111
    Registered Users Posts: 967 ✭✭✭highly1111


    Nervous Wreck wrote: »
    Literally no one can answer this but Ptsb. You can read people speculating on here for 20 posts if you want but really, you'd save yourself a lot of time by just calling them and asking outright.

    You're right - just lack of patience and hoping a boardsie might be able to advise at this hour!! I'll call them tomorrow.

    In case anyone was in the same boat - if they could let me know how they got on it would be great.


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    #4
    Mad Martina
    Registered Users Posts: 27 ✭Mad Martina


    I would be interested to hear their response as I am in a similar situation.


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    #5
    chris85
    Registered Users Posts: 4,502 ✭✭✭chris85


    PTSB will basically just treat it as a new overdraft and would require that you meet the terms and conditions for the overdraft. Banks are not big fan of overdrafts and if you have been in and out of an overdraft for a while they may ask why and refuse it due to this.


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    #6
    highly1111
    Registered Users Posts: 967 ✭✭✭highly1111


    Thanks - I submitted the application online anyway and it says someone will call me tomorrow. There is a question asking if you would like an OD facility and I said yes and then under the T&Cs it says that I agree to a credit check. I'll let you know how I get on.


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    #7
    finnteme
    Registered Users Posts: 970 ✭✭✭finnteme


    I did this recently, switched from UB to PTSB and had existing OD.

    PTSB did a credit check in the branch, and i had to provide 6 months statements from UB.


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