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Silly Bank Charges Question

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  • 18-06-2015 12:17pm
    #1
    DamienOB
    Registered Users Posts: 209 ✭✭


    My main bank is with Ulster and I pay no fees with them.

    I have a second account, with Permanent TSB. I got it set up in the aftermath of the famous Ulster crash of 2012.

    I now use it as a recreational account for hobbies and the likes.

    My silly question.
    I get charged 4 euro a month if 1500 is not lodged. (wages goes through Ulster so I would never reach 1500 in PTSB). If I stood at ATM for 2 mins, Lodged 500, withdrew it. And did it again two more times over the month, would this avoid me paying the fees? (I'm unlikely going to do it as it wouldn't be worth the hassle, more just out of curiosity).

    Thanks,

    Damien


Comments

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    #2
    daheff
    Registered Users Posts: 5,866 ✭✭✭daheff


    i dont know if the requirement is one single lodgement of 1500 or not.


    However why not transfer from your UB ac online to your PTSB account & back again?


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    #3
    DamienOB
    Registered Users Posts: 209 ✭✭DamienOB


    daheff wrote: »
    i dont know if the requirement is one single lodgement of 1500 or not.


    However why not transfer from your UB ac online to your PTSB account & back again?

    That's the other side of my question actually. That would be plausible wouldn't it?

    Thanks for the reply. I could transfer wages in and out in 2 days and save money and hassle.


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    #4
    coylemj
    Registered Users Posts: 25,437 ✭✭✭✭coylemj


    DamienOB wrote: »
    That's the other side of my question actually. That would be plausible wouldn't it?

    Thanks for the reply. I could transfer wages in and out in 2 days and save money and hassle.

    Or get your wages paid into the PTSB account and transfer it over to the Ulster a/c straight away, it will save you one transfer and a possible delay of a day or so while the money is moving backwards and forwards between the two banks.


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    #5
    DamienOB
    Registered Users Posts: 209 ✭✭DamienOB


    coylemj wrote: »
    Or get your wages paid into the PTSB account and transfer it over to the Ulster a/c straight away, it will save you one transfer and a possible delay of a day or so while the money is moving backwards and forwards between the two banks.

    I will look into this. The boss is Ulster so when he pays me its instant. I could just transfer over 1500 each month, transfer back 1000 and take out the 500 as i would normally do from Ulster.

    Thanks for the help people. Much appreciated


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    #6
    JTMan
    Registered Users Posts: 5,540 ✭✭✭JTMan


    daheff wrote: »
    i dont know if the requirement is one single lodgement of 1500 or not.

    It is a cumulative requirement. Multiple lodgements will qualify provided they sum up to at least 1,500 EUR.


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    #7
    coylemj
    Registered Users Posts: 25,437 ✭✭✭✭coylemj


    DamienOB wrote: »
    ...... The boss is Ulster so when he pays me its instant. I could just transfer over 1500 each month, transfer back 1000 and take out the 500 as i would normally do from Ulster.

    Ok, in that case I would do as you outlined above.


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    #8
    Delta2113
    Registered Users Posts: 2,707 ✭✭✭Delta2113


    DamienOB - you should not be paying any charges other than Government duties.

    I still get paid into my old BOI Savings a/c and I have a PTSB Current Account. I moved from BOI Current Account to PTSB.

    Everything is FREE - just a few minutes online work each month.


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