PTSB making it harder to dodge quarterly fees

5star02707

Seller25 wrote: »

I am looking to move from PTSB aswell and seems that EBS (Money Manager Account) has no charges, except for international transactions. Anyone with them? I am now deciding between N26 and ESB, where ESB have offices in Ireland which seems like an advantage.

If looking for another Fintech company check out TransferWise it's another online bank apart from the usual Revolut and N26.

Bob24

5star02707 wrote: »

If looking for another Fintech company check out TransferWise it's another online bank apart from the usual Revolut and N26.

Transferwise is not a bank, and to my knowledge won’t offer current account services (or only a subset of them).

5star02707

Bob24 wrote: »

Transferwise is not a bank, and to my knowledge won’t offer current account services (or only a subset of them).

Actually yes they aren't a bank my bad.

They do offer you a debit card (Mastercard) and you'll have a European IBAN, British, American and Australian account numbers.

Bob24

5star02707 wrote: »

Actually yes they aren't a bank my bad.

They do offer you a debit card (Mastercard) and you'll have a European IBAN, British, American and Australian account numbers.

Do they support direct debits?

5star02707

Bob24 wrote: »

Do they support direct debits?

https://transferwise.com/help/article/2865318/borderless-account/how-can-i-use-my-local-account-details

Not yet but they're working on it.

for now it's only good for transferring money between different currencies.

Best choice i guess for free banking (no balance maintenance) is Revolut or N26

Ten Pin

Ten Pin wrote: »

Pity you didn't ask them to point out where it says so in T&Cs. Had a look for it and couldn't see anything specific that allows them to do so. It's impossible to lodge the 1500 into a closed account.

I couldn't see that spelled out anywhere either; the version I read simply said you had to "lodge €1,500 each month" - they're now claiming that means every month of a given quarter but I would argue that it could easily be interpreted as being every month that the account is actually active - if I close the a/c in February then in March it's an "ex-account", it has "ceased to be" and thus surely can't be liable for an €18 fee.

Rock Steady Edy

Looks like those of us that had the fee-free legacy current accounts just weren't profitable enough customers enabling PTSB to make a return to the taxpayer.

www.rte.ie/news/business/2019/0227/1033174-ptsb-posts-transformational-year-fbd-profits-stable/

I saw a KBC ad at a bus shelter today trying to attract disenfranchised PTSB current account customers.

One company's loss making customer is another company's opportunity to increase market share and cross-sell other products to.

_Godot_

Seller25 wrote: »

I am looking to move from PTSB aswell and seems that EBS (Money Manager Account) has no charges, except for international transactions. Anyone with them? I am now deciding between N26 and ESB, where ESB have offices in Ireland which seems like an advantage.

I do, I barely use my EBS card though, I use revolut for shopping and my EBS account for receiving money and paying direct debits.

Icsics

Can someone remind me of the documentation required to close my TBB accounts by Post? Thanks

Lasai

There will be still no fees for debit card payments, right?

Bob24

Icsics wrote: »

Can someone remind me of the documentation required to close my TBB accounts by Post? Thanks

Proof of address and certified copy of ID document.

Bob24

I just received my last statement from PTSB after closing the account at the branch a bit over a week ago.

For reference it does show the 18 euros charge some of us had been talking about here, on the day I went to the branch to close the account. But the statement shows that 4 days later they credited 18 euros back to the account to revert the charge and bring the balance to 0 before actually closing it.

_Kaiser_

Quick one for those who have switched to the PTSB Explorer account.. do you need an appointment, or can you walk in to your branch and get it done?

If the former, can that be arranged via Open24 or do you need to get the branch themselves? Reason I ask is my local branch are hard to call and I don't work anywhere near it so will probably need to set something up.

Cheers

delta_bravo

_Kaiser_ wrote: »

Quick one for those who have switched to the PTSB Explorer account.. do you need an appointment, or can you walk in to your branch and get it done?

If the former, can that be arranged via Open24 or do you need to get the branch themselves? Reason I ask is my local branch are hard to call and I don't work anywhere near it so will probably need to set something up.

Cheers

Called in without appointment and signed a few forms. I'd bring ID also

Woshy

_Kaiser_ wrote: »

Quick one for those who have switched to the PTSB Explorer account.. do you need an appointment, or can you walk in to your branch and get it done?

If the former, can that be arranged via Open24 or do you need to get the branch themselves? Reason I ask is my local branch are hard to call and I don't work anywhere near it so will probably need to set something up.

Cheers

We just called in and brought ID - no appointment necessary

_Kaiser_

delta_bravo wrote: »

Called in without appointment and signed a few forms. I'd bring ID also

Woshy wrote: »

We just called in and brought ID - no appointment necessary

Cool.. I'll drop in to them Friday then. Cheers for the quick replies

uck51js9zml2yt

Has anyone switched to the explore acccount online ?

i was looking at their website and see its an option to kickstart the switch

JTMan

Liv Square Punch wrote: »

Has anyone switched to the explore acccount online ?

i was looking at their website and see its an option to kickstart the switch

Go in branch.

uck51js9zml2yt

JTMan wrote: »

Go in branch.

Going in tomorrow.

Just to add , to get over the 1500 lodged in march I moved 1500 to revolut and back to the account this afternoon.


Edit

Went in this morning and done in 10minutes.
She just changed the type of account. No new account needed, no switching and no fee.

loki7777

Quick question:i'm going to ebs tomorrow(have forms filled) and will i get my new account number at this time or will it take few days to get it?

podge3

loki7777 wrote: »

Quick question:i'm going to ebs tomorrow(have forms filled) and will i get my new account number at this time or will it take few days to get it?

You should get it straight away.

notuslimited

Got hit with the €18 charge. Made a complaint via the Open 24 number. Got the money back 5 days later. Wired to my new account with KBC.

BillieBob101

notuslimited wrote: »

Got hit with the €18 charge. Made a complaint via the Open 24 number. Got the money back 5 days later. Wired to my new account with KBC.

Did you close the account in March? I'm closing my account in the next few days. I spoke to someone from ptsb earlier today over the phone and I was told that as I had lodged €1500 to my account each month this quarter (Jan, Feb, Mar) that I had met the conditions for free banking this quarter. This person confirmed that had I closed my account in Feb that I would have been charged €18 as I wouldn't have lodged €1500 for each month in the quarter!!

uck51js9zml2yt

BillieBob101 wrote: »

Did you close the account in March? I'm closing my account in the next few days. I spoke to someone from ptsb earlier today over the phone and I was told that as I had lodged €1500 to my account each month this quarter (Jan, Feb, Mar) that I had met the conditions for free banking this quarter. This person confirmed that had I closed my account in Feb that I would have been charged €18 as I wouldn't have lodged €1500 for each month in the quarter!!

That might be where people are going wrong. i didnt have to close my account.
The girl just changed the account type on the system. I kept my debit cards/account number etc.

rushfan

Liv Square Punch wrote:

That might be where people are going wrong. i didnt have to close my account. The girl just changed the account type on the system. I kept my debit cards/account number etc.

We're the same. Dropped down on Saturday morning, all done in about 15 mins. No charge on the old account. Checked the app later on & it had already changed from "current " to "Explore."

Bob24

Liv Square Punch wrote: »

That might be where people are going wrong. i didnt have to close my account.
The girl just changed the account type on the system. I kept my debit cards/account number etc.

I think the poster just want to move to another bank and do away with PTSB though?

uck51js9zml2yt

Bob24 wrote: »

I think the poster just want to move to another bank and do away with PTSB though?

People are doing both!

Bob24

Liv Square Punch wrote: »

Bob24 wrote: »

I think the poster just want to move to another bank and do away with PTSB though?

People are doing both!

Sure, I was just referring to the person you were replying to.

BillieBob101

Bob24 wrote: »

Sure, I was just referring to the person you were replying to.

As you said, I was referring to closing my account completely as I have switched to kbc. People who closed their accounts in February were charged €18 but I've been told by ptsb that I won't be charged if I close my account in March. It remains to be seen if this will be the case.

Vwsham

I’ve been a bit fed up with PTSB this past while but the current account charges were the straw that broke the camels back.
I have since opened a KBC current account and am moving our mortgage to EBS. Set to save over ten grand over the remainder of the mortgage. That was a costly letter for them. Thanks PTSB! You helped open our eyes.