PTSB making it harder to dodge quarterly fees

Bob24

Vwsham wrote: »

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.

I am genuinely wondering how many cases similar to yours there might be. Or like mine whereby they lost a few deposit accounts.

I assume they did guesstimate how many people would to that and considered that one average it was worth the loss, but in your case a costly letter it was indeed.

vkus6mt3y8zg2q

Vwsham wrote: »

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.

Ridiculous it took the thought of paying €18 a quarter to switch mortgage and save €10k over the remainder of your mortgage

Vwsham

Rocco Shapely Checkbook wrote: »

Ridiculous it took the thought of paying €18 a quarter to switch mortgage and save €10k over the remainder of your mortgage

It wasn’t the value of the €18 that bothered me, just that enough was enough. No point in grumbling about it and giving out, their changes encouraged me to shop around. It was coming anyway.

Gael23

I would be leaving for KBC only I need a facility to lodge cash. Have enough of PTSB now.

veryangryman

Advice requsted...

So i want to close my account and move wages to my KBC.

How do i apply in writing to close it and avoid being charged for this quarter? I imagine make the close day as March 31?

Macker1

Looking for clarification on my account re: charges ???

I have an Everyday Banking Current account for years now

My monthly wage is paid into this account and based on amount the quarterly charge is always waived (€18 per quarter)

Is this still the case that if you lodge sufficient funds each month that the quarterly charge is waived

I haven't received any letters / correspondence in relation to charges being applied

Apologies if this is already answered elsewhere previously.

Thanks in advance.

Davy

Macker1 wrote: »

Looking for clarification on my account re: charges ???

I have an Everyday Banking Current account for years now

My monthly wage is paid into this account and based on amount the quarterly charge is always waived (€18 per quarter)

Is this still the case that if you lodge sufficient funds each month that the quarterly charge is waived

I haven't received any letters / correspondence in relation to charges being applied

Apologies if this is already answered elsewhere previously.

Thanks in advance.

According to the table, the everyday account is changing to the new Current Account4 which has the new t&c's.

the new condition to get the exemption is that you must have €2500 or more in the account at all times. Even if you lodge €10k a month, it wont matter if the balance reaches €2499 anytime during the quarter.

Icsics

veryangryman wrote: »

Advice requsted...

So i want to close my account and move wages to my KBC.

How do i apply in writing to close it and avoid being charged for this quarter? I imagine make the close day as March 31?

I rang TSB to find out the exact date for the new fees, it was 1st April. I had plenty time to set up the KBC account & made sure to deposit €1500 to TSB to cover the free fees March. I then emptied the TSB accounts, wrote requesting the accounts closed, attached a certified ID & recent bill.

surfdudette

Icsics wrote: »

I rang TSB to find out the exact date for the new fees, it was 1st April. I had plenty time to set up the KBC account & made sure to deposit €1500 to TSB to cover the free fees March. I then emptied the TSB accounts, wrote requesting the accounts closed, attached a certified ID & recent bill.

An alternative to this, is to fill out a KBC switching form (available on their website) and hand it in to KBC, and let KBC handle the whole process of closing the PTSB a/c for you. No other documents needed, once your KBC current a/c is open. Would still need to deposit the €1500 to PTSB at some point before the switching date.

Mumm_ra

I closed Wednesday- they tried to charge the €18 fee. Girl said it was due to some letter I supposedly got in 2015. They tried to say it was basically an account closing fee. After asking to see the letter (which they couldn’t show me). I asked to see their fee schedule to show they could charge this. The man who was dealing with my request got approval from his manager to do a inter branch write off. The whole thing is pathetic - although I would say KBS will change their fees after hovering up all the PTSB switchers. The banks are making themselves worthless and everyone will eventually leave to a fintech company. The current account should be a gateway product to sell other products - they are getting people to trust online banking suppliers and this will eventually be their downfall.

surfdudette

I was trying to use switching process to close my PTSB a/c (moving to KBC) but PTSB denied/blocked the switch due to the €18 fee not having been paid, even though I already lodged the €1500 this month & the 2 prior months, so no fee is even due. Rang PTSB today and they told me they cannot fix this over the phone; I was told I have to go into my branch with ID & proof of address to sort it out. Pretty annoyed about this messing about; did not have this trouble switching from either of my 2 previous current accounts at other banks.

Think PTSB are hoping people will not be bothered enough about the fee or not notice it; I will be glad to be away from them after this. I'll probably just close my a/c when I go into the branch, as don't exactly trust PTSB now to go ahead with the switch and don't want to risk it running into the next quarter.

Bob24

MONAGHANSG wrote: »

I was trying to use switching process to close my PTSB a/c (moving to KBC) but PTSB denied/blocked the switch due to the €18 fee not having been paid, even though I already lodged the €1500 this month & the 2 prior months, so no fee is even due. Rang PTSB today and they told me they cannot fix this over the phone; I was told I have to go into my branch with ID & proof of address to sort it out. Pretty annoyed about this messing about; did not have this trouble switching from either of my 2 previous current accounts at other banks.

Think PTSB are hoping people will not be bothered enough about the fee or not notice it; I will be glad to be away from them after this. I'll probably just close my a/c when I go into the branch, as don't exactly trust PTSB now to go ahead with the switch and don't want to risk it running into the next quarter.

I suspect it might be due to the fact that their systems only validate that an account meets the criteria and void the fees at the end of each quarter (i.e. until that day the fee is pending on the account).

Their technical issue though and it shouldn’t be your problem to solve - pretty shameful of them to ask you to go to the branch and see if the staff there can fix it for you.

You’re right, just move the direct debits yourself, close the account, and be done with it.

Diceicle

Mumm_ra wrote: »

I closed Wednesday- they tried to charge the €18 fee. Girl said it was due to some letter I supposedly got in 2015. They tried to say it was basically an account closing fee. After asking to see the letter (which they couldn’t show me). I asked to see their fee schedule to show they could charge this. The man who was dealing with my request got approval from his manager to do a inter branch write off. The whole thing is pathetic - although I would say KBS will change their fees after hovering up all the PTSB switchers. The banks are making themselves worthless and everyone will eventually leave to a fintech company. The current account should be a gateway product to sell other products - they are getting people to trust online banking suppliers and this will eventually be their downfall.

Spoke with PTSB online just now re: closing my account. No mention of a closing fee.
Go into the branch with ID and proof of address is all is needed apparently.

stockshares

Diceicle wrote: »

Spoke with PTSB online just now re: closing my account. No mention of a closing fee.
Go into the branch with ID and proof of address is all is needed apparently.

I haven't received a letter from Tsb regarding the quarterly charges.

What date is the 1st charge taken. I presume I will need to close the account before this date to avoid the charge. I can't see them refunding it if you close after its taken.

Diceicle

stockshares wrote: »

I haven't received a letter from Tsb regarding the quarterly charges.

What date is the 1st charge taken. I presume I will need to close the account before this date to avoid the charge. I can't see them refunding it if you close after its taken.

I don't recall any letter myself. From a read of previous replies the closing fee is already in place as people above have had it requested of them.
However, the phone rep never mentioned any other fee or anything else associated with closing the account other than relevant documentation being needed.

ahbell

Went in to my local branch today to cancel, I had moved some residual funds in my account onto Revolut and as the transaction was in a pending state she said I couldnt cancel. Have to go back in and start again once the transaction has completed - bit annoying they couldn't do it as seems a trivial reason.

F1ngers

stockshares wrote: »

I haven't received a letter from Tsb regarding the quarterly charges.

You shouldn't affected by these changes so.
You could 2x check with the bank if you want to.

I haven't received a letter either, my wife and son did however.

alwald

PTSB are pathetic, they tried to charge me 18 quid to close my account. The PTSB employee was sure of herself and couldn't back her claim with any document such as t&c or a fee statement. She was so arrogant, cheked with her supervisor and then said that they cancelled the fee lol.

I had a good few years with them, opened all my accounts online and had no issues whatsoever until I went to their office and dealt with their employees.

KBC, Revolut and N26 are my free banking options now so good riddance.

alwald

PTSB are pathetic, they tried to charge me 18 quid to close my account. The PTSB employee was sure of herself and couldn't back her claim with any document such as t&c or a fee statement. She was so arrogant, cheked with her supervisor and then said that they cancelled the fee lol.

I had a good few years with them, opened all my accounts online and had no issues whatsoever until I went to their office and dealt with their employees.

KBC, Revolut and N26 are my free banking options now so good riddance.

Mundo7976

Would anyone know off hand, if i were to switch to an explore account, would my current overdraft facility transfer with it or would i have to reapply?

Gael23

When I read the letter first I thought it wouldn’t affect me because I have some savings and a low income, soI can keep the balance. But it effectivelzt means if you stay then you have 2.5k you can never touch.

dory

Changed yesterday to the Explore Account. I'll give it a go for a while and see how much I use my debit card.

If it's 10c back per purchase, can you go into a supermarket and buy lots of things separately??

loki7777

Yes you can.

Bob24

But does anyone really wants to go to Tesco and buy 10 apples one after the other in separate debit card transactions? Both in the interest of my time and in the interest of my self esteem, I know I don’t :-)

Corbally76

Went into my branch at 11am this morning to close my account. I had two IDs and proof of address with me. Bank staff told me they couldn't close it today as they had no staff available to sign the account closure form. I asked her to confirm if I heard her correctly. She confirmed that from 11am until 5pm this evening that nobody was available to sign off on the account closure and I had to make an appointment. Did you ever hear such rubbish?!! Rang head office and they said you don't need any appointment. Can't wait to be gone from this crowd!

loki7777

Bob24 wrote: »

But does anyone really wants to go to Tesco and buy 10 apples one after the other in separate debit card transactions? I know I don’t :-)

But you can:) EBS is the answer for people who don't use their card too often and i went this way - still waiting for PTSB to close my account and transfer everything over to EBS.

Bob24

loki7777 wrote: »

But you can:)

Indeed - I guess what I’m trying to say is that because you can do something doesn’t allways mean you should :-)

ahbell

alwald wrote: »

PTSB are pathetic, they tried to charge me 18 quid to close my account. The PTSB employee was sure of herself and couldn't back her claim with any document such as t&c or a fee statement. She was so arrogant, cheked with her supervisor and then said that they cancelled the fee lol.

I had a good few years with them, opened all my accounts online and had no issues whatsoever until I went to their office and dealt with their employees.

KBC, Revolut and N26 are my free banking options now so good riddance.

Pretty much the exact same experience I had, wasn't the Baggot Street branch by any chance was it?

tnegun

Tried to close my account today and had to sign 40+ pieces of paper to remove every payee ever setup!! Madness then wanted to charge me 18 fees and couldn't waive it, I threw out the letter but thought the fees where coming in in April?

gordongekko

If they won't waive it just leave one euro in the account