PTSB making it harder to dodge quarterly fees

Hurrache

murpho999 wrote: »

Just use Apple or Google pay depending on your phone.

Safer than wireless and no €30 limit.

You won't need your card at all.

Edit: Sorry you're talking about EBS. Thought it was KBC

Yeah, EBS.

I got a Revolut account a while ago thinking I'd get it then, but they changed from Mastercard to Visa and their Visa cards don't support it either.

Stark

AlmightyCushion wrote: »

You can't lodge cash with KBC but you can use any ATM to withdraw cash from with no fee.

What happens if you need to lodge a cheque?

Marlow

Hurrache wrote: »

Can't see how. The fear of being skimmed is dramatically overplayed, plus when you're entering your pin each time, if you are worried about it, they'll then have your PIN.

Contactless is great.

Not quite.

I've seen a good few cases of cloned cards because contactless in the last 2 years. My other half got my spare Revolut Card cloned either in Sao Paolo or London, when she was travelling 2 years ago.

With Revolut or N26 you spot it immediately because you get the push notifications for every single transaction and can freeze the card in the app.

Basically got a push notification for a 0 EUR reservation in Marbella, froze the card, contacted customer care, destroyed card, ordered a new one and they even refunded me the 6 EUR replacement fee. Because Revolut allows for 2 active cards (3 on Premium/Metal) .. you still have the backup card around.

With your traditional brick and mortar bank, it may take weeks or your account being empty to tell you.

So i disabled contactless in my Permanent TSB card and use it mainly for transfers to Revolut. Very few places, like An Post, where I have to use a debit card, I may have to revert to use the PTSB card (or my N26).

And with Revolut and N26, I also have Google Pay. So I only have the PTSB account as fallback these days. With 18 EUR/quarter fees, they can f*** right off.

/M

Marlow

Hurrache wrote: »

Yeah, EBS.

I got a Revolut account a while ago thinking I'd get it then, but they changed from Mastercard to Visa and their Visa cards don't support it either.

Who changed from Mastercard to Visa ? EBS ?

/M

murpho999

Stark wrote: »

What happens if you need to lodge a cheque?

You can lodge a cheque to your KBC Current Account or Deposit Account (where the account allows) by visiting one of our Hubs or posting the cheque to KBC Bank Ireland Plc, PO Box 12421, Sandwith Street, Dublin 2 along with your account details.

Link

bonjurkes

Marlow wrote: »

They don't have 2FA in the traditional sense. True. However, they have 2FA for payments.

If you make a payment, you additionally have to enter your pin and then confirm the payment on the mobile app.

So getting in is one thing. But getting your money out another.

/M

So if someone gets access to your account by your leaked/found password, they can transfer all money away without any other challenge.


Would you use your current bank (PTSB etc.) if they didn't ask for your 6 digit PIN when you login? I wouldnt.

Marlow

bonjurkes wrote: »

So if someone gets access to your account by your leaked/found password, they can transfer all money away without any other challenge.

No they can't. Having the password does not allow you to transfer funds.

You also need the pin. And then you need to confirm the payment on the associated mobile app. Where you again have to log in via password or fingerprint before confirming. The weakest point is your mobile phone.

/M

murpho999

Marlow wrote: »

Not quite.

I've seen a good few cases of cloned cards because contactless in the last 2 years. My other half got my spare Revolut Card cloned either in Sao Paolo or London, when she was travelling 2 years ago.

With Revolut or N26 you spot it immediately because you get the push notifications for every single transaction and can freeze the card in the app.

Basically got a push notification for a 0 EUR reservation in Marbella, froze the card, contacted customer care, destroyed card, ordered a new one and they even refunded me the 6 EUR replacement fee. Because Revolut allows for 2 active cards (3 on Premium/Metal) .. you still have the backup card around.

With your traditional brick and mortar bank, it may take weeks or your account being empty to tell you.

So i disabled contactless in my Permanent TSB card and use it mainly for transfers to Revolut. Very few places, like An Post, where I have to use a debit card, I may have to revert to use the PTSB card (or my N26).

And with Revolut and N26, I also have Google Pay. So I only have the PTSB account as fallback these days. With 18 EUR/quarter fees, they can f*** right off.

/M

Your bank account cannot be emptied with contactless.

3 times €30 maximum is all that can be taken.

Also, with Revolut you can enable a location based security feature that the card can only be used if it is in the same location as your phone.

Marlow

murpho999 wrote: »

Also, with Revolut you can enable a location based security feature that the card can only be used if it is in the same location as your phone.

Oh .. I know that and use it. But that wouldn't have helped in the above scenario, if you read it again .... the card and myself were in different countries for valid reasons.

And also .. 3 times 30 EUR per day yes. How often do you log into your online banking ?

/M

murpho999

Marlow wrote: »

Oh .. I know that and use it. But that wouldn't have helped in the above scenario, if you read it again .... the card and myself were in different countries for valid reasons.

And also .. 3 times 30 EUR per day yes. How often do you log into your online banking ?

/M

No 3 times 30 and that's it and then you must enter your pin.

That's how it is with my Ptsb card anyway.

Marlow

murpho999 wrote: »

No 3 times 30 and that's it and then you must enter your pin.

That's how it is with my Ptsb card anyway.

The thing is, that while your cloned card gets abused, you use your card and every time you use it using pin another 3 times 30 can disappear.

Permanent TSB is weird with contactless anyhow. When I had it enabled, it didn't work half the time. So no problem with disabling it.

/M

Hurrache

Marlow wrote: »

Not quite.

I've seen a good few cases of cloned cards because contactless in the last 2 years. My other half got my spare Revolut Card cloned either in Sao Paolo or London, when she was travelling 2 years ago.

With Revolut or N26 you spot it immediately because you get the push notifications for every single transaction and can freeze the card in the app.

Basically got a push notification for a 0 EUR reservation in Marbella, froze the card, contacted customer care, destroyed card, ordered a new one and they even refunded me the 6 EUR replacement fee. Because Revolut allows for 2 active cards (3 on Premium/Metal) .. you still have the backup card around.

With your traditional brick and mortar bank, it may take weeks or your account being empty to tell you.

So i disabled contactless in my Permanent TSB card and use it mainly for transfers to Revolut. Very few places, like An Post, where I have to use a debit card, I may have to revert to use the PTSB card (or my N26).

And with Revolut and N26, I also have Google Pay. So I only have the PTSB account as fallback these days. With 18 EUR/quarter fees, they can f*** right off.

/M

It's been pointed out, after 3 transactions, you need the PIN, it doesn't reset after a day. All of your above concerns apply regardless if contactless is on or off. And if your account is empty, I think you may notice it quick enough, rather than weeks.

Off topic anyway, I'n not saying there's no issues, but contactless concerns are over hyped.

Darwin

Myself and my wife got the letter yesterday too. Originally switched from AIB about 6 years ago to avoid the requirement to have 2500 in the account. I took out the PTSB literature I received at the time which had a blurb about their current account offering and it says at the top 'No nonsensical fees, just lodge 1500 to your account every month'. It would appear by their own admission nonsensical fees are a fact of life now. I really couldn't stomach switching again so will just move money from a savings account to the current account.

AlmightyCushion

murpho999 wrote: »

Link

I didn't know that, I thought you couldn't for some reason. I'll probably never use it but good to know.

user1842

Marlow wrote: »

Revolut

The only question, that's not quite clear, is how that's going to look after Brexit with them being in the UK.

/M

You will be grand. Revolut got a banking licence in Lithuania:

https://www.businessinsider.com/bank-of-lithuania-grants-revolut-banking-license-2018-12?IR=T

murpho999

Marlow wrote: »

The thing is, that while your cloned card gets abused, you use your card and every time you use it using pin another 3 times 30 can disappear.

Permanent TSB is weird with contactless anyhow. When I had it enabled, it didn't work half the time. So no problem with disabling it.

/M

Now you're just looking for reasons to criticise it.

If you do 2 contactless payments and you are asked each time for a pin then you should start to think something is up and check your account.

I really think the scenario you describe is highly unlikely and I have shown that you cannot really have your account wiped out.

Never had an issue with PTSB contactless by the way.

Marlow

user1842 wrote: »

You will be grand. Revolut got a banking licence in Lithuania:

https://www.businessinsider.com/bank-of-lithuania-grants-revolut-banking-license-2018-12?IR=T

Good stuff. They're pretty inventive alright.

/M

Marlow

OmegaGene wrote: »

Revolut

Revolut is Mastercard for physical cards. Only Visa for virtual cards.

/M

BronsonTB

Keano wrote: »

How's your experience been with KBC?

Make sure you read the threads in the KBC forum so you are aware of issues before changing to them.

ie Mobile app limits.

Marlow

murpho999 wrote: »

Now you're just looking for reasons to criticise it.

If you do 2 contactless payments and you are asked each time for a pin then you should start to think something is up and check your account.

I'm just pointing out the flaws. And with the push notifications with others I know exactly, when a payment goes out.

With PTSB, I'd need to check on a regular basis. And counter-acting it also is cumbersome. So much easier, just to switch it off and avoid it entirely, when I have other options.

/M

Bob24

marvin80 wrote: »

They'll lose a lot of business I'd say - if the likes of KBC were clued in they'd offer TSB customers a reward like €100 if they switch over - they'd poach a lot of customers very quickly.

Agree. Got the letter as well yesterday evening and already made an appointment with AIB to open an account tomorrow (I qualify for free banking with them but hadn’t bothered until now as I was fine with PTSB). I was already on the verge of switching due to the lack of support for ApplePay so they are making the decision even easier.

And I’d say they won’t only loose current accounts but also some deposits in savings accounts. Again have a few savings account with them which are fine but also have alternative options which are similar an since some of the PTSB accounts require a current account there, I’ll basically fully end my resashionship with them and remove all my deposits due to that letter.

So I understand they want to rationalise their current accounts offering, but I think they might be making a mistake here.

murpho999

Marlow wrote: »

I'm just pointing out the flaws. And with the push notifications with others I know exactly, when a payment goes out.

With PTSB, I'd need to check on a regular basis. And counter-acting it also is cumbersome. So much easier, just to switch it off and avoid it entirely, when I have other options.

/M

It's just not something I would worry about at all.

Your experience is not something that happens to most people.

Marlow

murpho999 wrote: »

Your experience is not something that happens to most people.

More than you think. Hence peace of mind with more modern online banks. As I said .. 3 completely unrelated incidents in my circle of friends in the last 2 years. And one got her card cloned twice ... seemingly somebody was doing it in her workplace.

I also see it from the perspective of a retailer. And the amount of card replacements for some, I do worry.

/M

_Kaiser_

OK, I haven't a notion about Revolut (have a card but never use it), or N26 so here's what I have/need:

- Current account
- Overdraft facility
- Credit card

.. currently with PTSB. All DD's and wages run though this. I do almost everything via the Online Banking site (as above I prefer a full desktop rather than a app ) or the Visa Debit card.

What's my best option?

Marlow

_Kaiser_ wrote: »

- Overdraft facility
- Credit card

These 2 you won't have with Revolut nor N26 at the moment. KBC or EBS I guess .. if they're willing to give you the same.

/M

Inviere

KBC seem ideal barring you can't lodge cash. This is a bit of a headache for me, are the only options converting to postal order to transfer cash to KBC?

Secondly, with an active PTSB term loan, is it still possible to change banks?

_Kaiser_

Inviere wrote: »

KBC seem ideal barring you can't lodge cash. This is a bit of a headache for me, are the only options converting to postal order to transfer cash to KBC?

Secondly, with an active PTSB term loan, is it still possible to change banks?

Should be. I have one with AIB but everything else was moved to PTSB when AIB introduced the same charge scheme. I just pay the loan from the PTSB account every month.

Hurrache

Marlow wrote: »

Revolut is Mastercard for physical cards. Only Visa for virtual cards.

/M

No, it's not.

banie01

Just to add some more info.
After speaking to PTSB 24hr banking yesterday, I was informed that opening a new Explore account would require a new account set up and to complete the "switching" process even as an existing customer.

Happy to report that after calling into my branch today, that that info was wrong.
PTSB changed my account type to Explore immediately, with 3 signatures on a form and confirmed everything else regarding cards and DD stays as is.

Hope that helps.

_Kaiser_

banie01 wrote: »

Just to add some more info.
After speaking to PTSB 24hr banking yesterday, I was informed that opening a new Explore account would require a new account set up and to complete the "switching" process even as an existing customer.

Happy to report that after calling into my branch today, that that info was wrong.
PTSB changed my account type to Explore immediately, with 3 signatures on a form and confirmed everything else regarding cards and DD stays as is.

Hope that helps.

Cheers. I'll do the same for now then.