PTSB making it harder to dodge quarterly fees

_Kaiser_

banie01 wrote: »

If you decide that moving away from PTSB is a bit too much hassle and decide to go with their Explore offering...
They make you open a new account rather than change the existing account type.

Seems to be a considered attempt to massage account opening figures IMO.

So new account number and hassle with that if anything uses it?

mikeym

I switched to PTSB because Bank Of Ireland brought in the charges.

banie01

_Kaiser_ wrote: »

So new account number and hassle with that if anything uses it?

Yep, basically open a new account and go through the switching process.
Hardly an incentive to stay or a decent effort at retention.

Keano

banie01 wrote: »

Yep, basically open a new account and go through the switching process.
Hardly an incentive to stay or a decent effort at retention.

I get why they have to do it but that's a massive pain. Switching to another bank will be my next step.

km79

banie01 wrote: »

If you decide that moving away from PTSB is a bit too much hassle and decide to go with their Explore offering...
They make you open a new account rather than change the existing account type.

Seems to be a considered attempt to massage account opening figures IMO.

I asked this question earlier and 2 different posters said this was not the case????

Diceicle

Looking to leave PTSB following the letter I got today.
I'm considering N26. Anything to be aware of here? Is there anything I'm getting with PTSB current account thats not available with N26?
Wouldn't use the card all that much week to week anyway.

Marlow

Diceicle wrote: »

Is there anything I'm getting with PTSB current account thats not available with N26?

Can't lodge cash and can't lodge cheques. I guess that's it.

/M

SteelyDanJalapeno

I don't understand why people don't move to the explore account, you can literally make money on it, that's better than free.

Cut your nose to spite yer face me thinks

august12

killbillvol2 wrote:

I was with them for nearly 40 years. They didn't even ask why I was closing the account!

Can I ask why?

Diceicle

Marlow wrote: »

Can't lodge cash and can't lodge cheques. I guess that's it.

/M

Thanks. That shouldn't bother me so.
Went ahead and opened an account.
Used code sg322 for a free €10.
Fup PTSB

banie01

km79 wrote: »

I asked this question earlier and 2 different posters said this was not the case????

I spoke with PTSB about 5 minutes before I posted and they confirmed the process as I laid out.

km79

SteelyDanJalapeno wrote: »

I don't understand why people don't move to the explore account, you can literally make money on it, that's better than free.

Cut your nose to spite yer face me thinks

Cos it now appears it is the same hassle as actually moving banks
If it is I will go to ebs and their free current account..........

banie01

km79 wrote: »

Cos it now appears it is the same hassle as actually moving banks
If it is I will go to ebs and their free current account..........

Earlier in the thread as you said, other posters confirmed it was just a simple change of account type.
When I spoke to PTSB I was advised that a new account and switching form would be needed.
Now it may be the case that I was advised in error, but I went so far as asking the adviser seek confirmation on this as it would make any benefit of staying versus moving fairly pointless.

Ursus Horribilis

Apart from the paperwork involved in switching banks, the other pain in the neck is the direct debits. I think I only had one when I switched to PTSB but now I've a mortgage and quite a few of them. If you were to switch account types with PTSB, who'd have to chase up the direct debits? From my experience of moving to them, I wouldn't trust them as far as I'd throw them.

Hurrache

SteelyDanJalapeno wrote: »

I don't understand why people don't move to the explore account, you can literally make money on it, that's better than free.

Cut your nose to spite yer face me thinks

Because not all people use their card that much.

mugsymugsy

I'm moving - got two months to get up and running and switching things over to KBC.

Leaving 2.5k in a current account every day is madness. I dont particularly like keeping a massive balance in my current account - prefer in savings.

They are idiots for forcing this on customers

strandroad

Good thread, thank you all.
I'll move to Explore if it's painless, otherwise I'll have to move to another bank.

Ten Pin

One thing to note is that the ATM duty only applies if the card is used at an ATM.

It seems that N26 had tried to charge the duty (5e) even if the card isn't used at an ATM, can anyone confirm that they charge correctly ie 12c per ATM withdrawal up to max of 5e and zero if no ATM use at all.

That would be something to ask EBS about their debit card.

strandroad

mugsymugsy wrote: »

Leaving 2.5k in a current account every day is madness. I dont particularly like keeping a massive balance in my current account - prefer in savings.

They are idiots for forcing this on customers

It's very unsafe in case of card fraud. I only keep the absolute minimum in my current account.

DaveyDave

I'm also on the explore account. It's €4 a month but you can earn up to €5 by using your card. 10c earned for every card transaction, ATM withdrawal and possibly direct debit. It costs me around €1 a month, sometimes less. So say €12 for the year.

2% earned from Airtricity and 5% earned with Sky.

Hard to believe a year ago I was spending €200/yr with AIB.

christy c

Anyone with an AIB mortgage can get free fees provided the DD comes from this account

Ursus Horribilis

It's yet another example of how ordinary Irish people are getting it in the neck when it comes to "our" banks. We're already paying the highest mortgage rates in Europe and there's no sign of that changing. Now here we have yet another bank who's making it more difficult for people to avoid charges. Of course, if you were a property developer who'd had to go into NAMA you'd never get shafted like this.

KevinCavan

Will A.I.B. and bank of Ireland put themselves out of business? Funny how a Belgian bank and foreign companies like Revolut and N26 are our only hope now.

Gumbo

Marlow wrote: »

Should. I haven't had the need, so dunno. N26 definatly does.



Credit union ? Or you can go into the issuing bank and get them to pay it out.

Who uses cheques anyhow anymore these days ? In over 4 decades, I've never had a cheque book. And I wouldn't trust a cheque either, because if there's no funds on the account, it just bounces.

/M

I only sent a cheque today to pay for a Planning Application.
Fire Safety certs etc, fees too big for card transactions.

Ursus Horribilis

I wrote a cheque two weeks ago. It's rare these days but there's still the odd need for them.

km79

kceire wrote: »

Marlow wrote: »

Should. I haven't had the need, so dunno. N26 definatly does.



Credit union ? Or you can go into the issuing bank and get them to pay it out.

Who uses cheques anyhow anymore these days ? In over 4 decades, I've never had a cheque book. And I wouldn't trust a cheque either, because if there's no funds on the account, it just bounces.

/M

I only sent a cheque today to pay for a Planning Application.
Fire Safety certs etc, fees too big for card transactions.

Electronic transfer ????

Davy

KevinCavan wrote: »

Funny how a Belgian bank and foreign companies like Revolut and N26 are our only hope now.

Fire or KBC as well. If enough people move they might take notice.

Gumbo

km79 wrote: »

Electronic transfer ????

Too much hassle when dealing with Local Authorites and large companies.
Theres too much red tape and forms to be filled out, and then theres hassle with pre-validation of applications, especially in paper format.

Dublin City Council is miles ahead though, you can lodge online and pay online.

Also, the limit on daily transfers is 5k with PTSB for example, one Fire Cert last year was 12k.

cefh17

Ten Pin wrote: »

One thing to note is that the ATM duty only applies if the card is used at an ATM.

It seems that N26 had tried to charge the duty (5e) even if the card isn't used at an ATM, can anyone confirm that they charge correctly ie 12c per ATM withdrawal up to max of 5e and zero if no ATM use at all.

That would be something to ask EBS about their debit card.

Initially they charged the full amount (when the 12c per usage) was introduced but now do it as they should, Yggr did a lot of messaging to them fair play. Now it's up to the 2.50e limit per contactless/ATM I believe. That being said I haven't seen the charges yet this year for 2018

vicwatson

mugsymugsy wrote: »

I'm moving - got two months to get up and running and switching things over to KBC.

Leaving 2.5k in a current account every day is madness. I dont particularly like keeping a massive balance in my current account - prefer in savings.

They are idiots for forcing this on customers

Aren’t current accounts more prone to scamming? So the more that’s in it, the more that can be taken, and the more the bank can be liable for. Makes no sense leaving 2.5 k in a current account