PTSB to End Free Banking in September

Delta2113 · 28-07-2023 12:43pm

https://www.boards.ie/discussion/comment/120907432#Comment_120907432

I reckon you will have to do this manually - probably involve contacting utility providers etc.

Citrus_8 · 28-07-2023 2:03pm

Even though banks do offer to switch DDs for you, I wouldn't recommend that. Once they've missed two and a bank changed 10 Euro for each missed DD plus a supplier charged me too. I'd simply change all manually. It's very easy for an organised person, can be slightly annoying for those who don't like paperwork.

jaffa20 · 28-07-2023 5:29pm

Thanks, started doing them all manually today and managed most online or over the phone. At least can keep PTSB account open until mid Sept to see if it all works out.

zg3409 · 29-07-2023 6:17pm

Thanks for all the advice here.

I am thinking of going revolut only.

Can I keep my old ptsb credit card, as in is that a separate account? Should I apply for physical revolut card instead and if so what are downsides? How do I avoid paying annual credit card fee twice?

What is main downside of revolut only account? I have a separate free joint account, will that be ok or impacted by this change?

While the cost per year is somewhat low, you can be sure fees will increase, and many people already moved bank before to this free account, so we are savvy and mover likely customer.

Any upside to going esb account? What are hidden/usage fees?

Thanks in advance all

gmisk · 30-07-2023 8:48pm

https://www.boards.ie/discussion/comment/120901813#Comment_120901813

I think I might switch I am with sky already, I am guessing the 5% is automatically applied? Or do I need to flag it to PTSB? Thanks

Delta2113 · 30-07-2023 10:50pm

"Cashback on bills is automatic on your account as long as you pay a bill by Direct Debit with one of our Direct Debit partners. Whether you’re a new customer, or already have an account with our partners you can avail of this exclusive deal when you pay by Direct Debit from your Explore Account."

daheff · 31-07-2023 12:39pm

https://www.boards.ie/discussion/comment/120908064#Comment_120908064

100% agreed. there is a switcher service in place, but banks don't tend to care to do it right as you are an exiting customer. Quicker, easier and more efficient to do it yourself.

daheff · 31-07-2023 12:44pm

https://www.boards.ie/discussion/comment/120897065#Comment_120897065

But Jim if one were to apply this laissez faire attitude to all bills, you'd end up spending a lot more in bills. Eventually providers would increase their charges beyond reason. So the hassle saves 70 eur directly and more indirectly.

Jim2007 · 31-07-2023 2:47pm

https://www.boards.ie/discussion/comment/120920253#Comment_120920253

Buy one less coffee and you are in the same position with less hassle... Of course there are people who like to and/or need to carefully manage their finances, I'm not talking about those, I'm talking about the ones who will go thought all the hassle etc and then just blow it on a coffee or something else...

waskaxo · 31-07-2023 10:15pm

Do you know if it's possible to convert one of the regular current accounts to an explorer one? I'd love to avoid the hassle of modifying all existing direct debits, utility bills, etc.

Thanks in advance

gmisk · 31-07-2023 10:20pm

https://www.boards.ie/discussion/comment/120923326#Comment_120923326

Yep.

I got letter and contacted them but you need to do it in a branch they say it should take max 15 minutes you just need to bring ID and proof of address (the letter asking you to switch is sufficient).