PTSB making it harder to dodge quarterly fees

Hardtochoose

Bob24 wrote: »

Went to AIB on Saturday morning to open my free banking account there as well.

Do AIB not have a €2,500 daily minimum for free banking also?

Bob24

Hardtochoose wrote: »

Do AIB not have a €2,500 daily minimum for free banking also?

Yeah they do as a general rule, but there are quite a few ways to qualify for free banking without maintaining that balance (student account, graduate account, over 66, AIB mortgage holder).

Ten Pin

The account that EBS offer (Money Manager) is of the type that all the banks here are supposed to offer, PTSB included. If you're ringing PTSB, ask them can you close your existing current account and open the free current account where there are no hoops to jump through for free banking (just be aware that max annual total lodgement has to be under 20k, you could get salary into N26).
http://www.citizensinformation.ie/en/money_and_tax/personal_finance/banking/standard_bank_account.html

The only reason to stay with PTSB is that if you have savings account with them, it's easy to transfer money into the current account for a card or direct debit transaction and leave just a small balance the rest of the time.

Bob24

Hardtochoose wrote: »

Keeping €2,500 in your current account is a huge security risk. If your card is skimmed or stolen with the PIN then they’ve access to €2,500 minimum. I keep the minimum necessary in my current acc

I wouldn’t call it huge risk. What you say it true but the exact same risk exists about the credit limit of a credit card. So if €2500 on the account linked to a debit card is called a huge risk, the hundred of thousands of people in Ireland who have credit cards with credit limits of several thousands euros should all be called completely inconscient.

In practice while issues can happen it is unlikely to be a recurring problem and quite possibly the bank or some insurance will cover the amount being lost.

km79

Bob24 wrote: »

Hardtochoose wrote: »

Keeping €2,500 in your current account is a huge security risk. If your card is skimmed or stolen with the PIN then they’ve access to €2,500 minimum. I keep the minimum necessary in my current acc

I wouldn’t call it huge risk. What you say it true but the exact same risk exists about the credit limit of a credit card. So if €2500 on the account linked to a debit card is called a huge risk, the hundred of thousands of people in Ireland who have credit cards with credit limits of several thousands euros should all be called completely inconscient.

In practice while issues can happen it is unlikely to be a recurring problem and quite possibly the bank or some insurance will cover the amount being lost.

When my CC was skimmed it was covered by the company . Filled a form no hassle .
I asked at the time what would have happened if it was the debit card
Money gone tough luck is the answer
So yes it’s a huge unnecessary risk

km79

Bob24 wrote: »

Hardtochoose wrote: »

Keeping €2,500 in your current account is a huge security risk. If your card is skimmed or stolen with the PIN then they’ve access to €2,500 minimum. I keep the minimum necessary in my current acc

I wouldn’t call it huge risk. What you say it true but the exact same risk exists about the credit limit of a credit card. So if €2500 on the account linked to a debit card is called a huge risk, the hundred of thousands of people in Ireland who have credit cards with credit limits of several thousands euros should all be called completely inconscient.

In practice while issues can happen it is unlikely to be a recurring problem and quite possibly the bank or some insurance will cover the amount being lost.

When my CC was skimmed it was covered by the company . Filled a form no hassle .
I asked at the time what would have happened if it was the debit card
Money gone tough luck is the answer
So yes it’s a huge unnecessary risk

Bob24

km79 wrote: »

When my CC was skimmed it was covered by the company . Filled a form no hassle .
I asked at the time what would have happened if it was the debit card
Money gone tough luck is the answer
So yes it’s a huge unnecessary risk

See https://www.ccpc.ie/consumers/shopping/disputed-card-transactions-chargeback/

No difference between debit and credit cards.

The J Stands for Jay

Woshy wrote: »

We got this letter today too and we’re really unimpressed. We have two current accounts with ptsb (one for direct debits and one for everyday spending), plus a savings account and two children’s accounts.

I like having most of our accounts in one place for budgeting etc but with the two current accounts it’ll cost us almost €150 a year. Fork that.

My husband likes the idea of something like Revolut or N62. We don’t have a credit card or an overdraft with ptsb so we don’t need that. I’m slightly wary though.

I’m just stressed st the idea of switching direct debits etc. We have a lot going out and coming in and I know some banks provide a switching service but I remember from switching to ptsb in the first place that they messed it up so I’d need to do the switching myself to be comfortable.

Not sure what to do but I’m sure as hell not paying those fees. I think after reading this thread switching to the explore account might be the best option. We use our cards a lot and have sky so the cash back will negate the fees

If you have an account just for direct debits, you might like Bunq. They send notifications to your phone for each direct debit and you can then approve or reject it. They also give multiple accounts. I don't have a card with them and have no charges. Not sure if they still offer that to new customers, but could be worth checking out.

caviardreams

Bob24 wrote: »

See https://www.ccpc.ie/consumers/shopping/disputed-card-transactions-chargeback/

No difference between debit and credit cards.

Can vouch for this - has happened my debt card a couple of times now. No issue claiming back.

km79

caviardreams wrote: »

Can vouch for this - has happened my debt card a couple of times now. No issue claiming back.

The problem is though your money for mortgage payments etc is not there!
I stopped using debit card online after that anyway
CC or revolut only now

Marlow

km79 wrote: »

CC or revolut only now

Yep. That's exactly what they're good for (as buffer).

/M

Bojill

vicwatson wrote: »

And you needed to go into a branch?

Not sure if you need to, I just went in.
My debit card and photo id.
It took about 5 mins, the person at customer service switched it for me.

alwald

I would like to request my statements from PTSB before closing my account, however it appears that there is a charge of 2.5 EUR per page.
I registered for e-statements on purpose so I can download them whenever I want but it appears that they remain in the account for 15 months only. Is this even legal that they are depriving me from my own data and charging me for it?

Ten Pin

Is this even legal that they are depriving me from my own data and charging me for it?

Maybe do a SAR under GDPR...AFAIK they can't charge for SAR whereas if you just ask under their standard account terms, they'll try to charge a fee.

Bob24

Ten Pin wrote: »

Maybe do a SAR under GDPR...AFAIK they can't charge for SAR whereas if you just ask under their standard account terms, they'll try to charge a fee.

Might be worth trying, but while now 100% sure I don’t believe they have to provide the data in any format you like. As long as all the information is there and is intelligible they could provide an excel spreadsheet with the transaction history rather than a nicely formatted statement.

The J Stands for Jay

Bob24 wrote: »

Might be worth trying, but while now 100% sure I don’t believe they have to provide the data in any format you like. As long as all the information is there and is intelligible they could provide an excel spreadsheet with the transaction history rather than a nicely formatted statement.

I wish banks would give .xls or .csv files instead of statements.

ct5amr2ig1nfhp

I know this may be better asked in the KBC forum but as a few of you appear to be switching to KBC, I thought I'd ask my question in this thread.

Do transfers between KBC current accounts count towards the 2,500 minimum monthly deposit requirement for free banking?

I contacted KBC twice today and got two different answers. One agent said yes, the second said no and insisted that it had to come from an 'external source'. I asked where it said that in the T&Cs but I have to wait for a call back.

Bob24

McGaggs wrote: »

I wish banks would give .xls or .csv files instead of statements.

Maybe not all, but most of them actually have a csv export function for transactions history on their website.

thomasj

As crazy as it may sound. Even though I'm wary based on previous years, I see ebs offer free banking with their moneysaver account.

I'm a bit dubious though:
MasterCard debit card (must be the only bank)
No overdraft facility
Very little information about it online
Based on what happened in the Celtic tiger years

What do ye think?

wonski

Mastercard debit card is as good as Visa to be honest. Widely accepted just like Visa.

Some basic accounts do not offer overdraft facility, that's one of the reasons I had to switch to explore some time ago.

_Godot_

I've been using it for a few years now, no problems.

Ten Pin

As crazy as it may sound. Even though I'm wary based on previous years, I see ebs offer free banking with their moneysaver account.

I'm a bit dubious though:
MasterCard debit card (must be the only bank)
No overdraft facility
Very little information about it online
Based on what happened in the Celtic tiger years

What do ye think?

All the Irish banks are supposed to offer a free basic current account, the EBS version is called money manager, the reason the banks are not saying anything about it is because it's free (subject to a couple of conditions). The media haven't mentioned much about it either.
http://www.citizensinformation.ie/en/money_and_tax/personal_finance/banking/standard_bank_account.html

AlmightyCushion

Gracelynn Ashy Alfalfa wrote: »

I know this may be better asked in the KBC forum but as a few of you appear to be switching to KBC, I thought I'd ask my question in this thread.

Do transfers between KBC current accounts count towards the 2,500 minimum monthly deposit requirement for free banking?

I contacted KBC twice today and got two different answers. One agent said yes, the second said no and insisted that it had to come from an 'external source'. I asked where it said that in the T&Cs but I have to wait for a call back.

It's what I used to do and it worked no problem.

Marlow

thomasj wrote: »

MasterCard debit card (must be the only bank)

Eh .. no.

- N26 is also Mastercard Debit card.
- National Irish Bank (Danske Bank) also was Mastercard Debit card until they left Ireland.

It's down to what agreements each bank has.

Matter of fact .... Visa and Mastercard are the same company. Just still operating as different systems.

Which is handy some times. May I remind of last years friday before June Bank Holiday ? .... well .. I have ALWAYS made sure, I've had 2 types of cards. Typically a Visa and a Mastercard. And while everyone couldn't pay for the fuel, their groceries and their beer that friday ... I had no issues. Thank you, Mastercard. And that strategy has saved me more than once, while travelling.

/M

enfant terrible

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.

Does switching to an explore account avoid fees?

The J Stands for Jay

thomasj wrote: »

As crazy as it may sound. Even though I'm wary based on previous years, I see ebs offer free banking with their moneysaver account.

I'm a bit dubious though:
MasterCard debit card (must be the only bank)
No overdraft facility
Very little information about it online
Based on what happened in the Celtic tiger years

What do ye think?

I have 4 MasterCards in my wallet, N26, KBC, Revolut and Avantcard. No issues. If anything, o find they work better online that the verified by visa rubbish (maybe it's improved since I last had one).

What happened to anyone's bank during the Celtic tiger years? All I remember is Anglo giving some brilliant deposit interest rates when it all started to fall apart.

shanec1928

thomasj wrote: »

As crazy as it may sound. Even though I'm wary based on previous years, I see ebs offer free banking with their moneysaver account.

I'm a bit dubious though:
MasterCard debit card (must be the only bank)
No overdraft facility
Very little information about it online
Based on what happened in the Celtic tiger years

What do ye think?

kbc is MasterCard

thomasj

enfant terrible wrote: »

Does switching to an explore account avoid fees?

No. You'd still have to pay the 4 euro per month.

There are ways around it . With the gorewards scheme you'd get 10 cents back everytime you use your debit card to buy stuff, upto a limit of 5 euro per month.

So using your card twice a day would get 5 euro into your account at the start of each month .

Of course, there's no guarantee that this scheme will hang around whereas the fees are more likely to.

Bob24

Marlow wrote: »

Eh .. no.

- N26 is also Mastercard Debit card.
- National Irish Bank (Danske Bank) also was Mastercard Debit card until they left Ireland.

Yes, and KBC plus most of the banking startup types of services (Revolut, Curve, bunq, etc).

There were problems at the beginning with some places (mostly AnPost) wrongly seeing Debit Mastercards as credit cards and hence refusing them as they only accept debit cards. But all that has been sorted a while ago and I haven’t had any problem using mine in the past couple of years.

pmce4

I just recieved my revolut physical visa card