To ensure we can keep working towards new and better ways to bank, as well as continuing to improve the services we provide to our customers, we are increasing Maintenance fees on some of our current accounts to €18 per quarter and removing all day to day transaction fees.

If you are affected by this we will either have recently written to you, or will be writing to you in the coming weeks, to advise you of the change to your account’s fees and what options are available to you. Below is more information on this change. If you have a question that we haven’t answered below, please contact us on 1890 800 900 or 01 212 4076

Frequently asked questions

Why has my maintenance fee increased?

From time to time we review our accounts and amend our Terms & Conditions as applicable. This change allows us to cover the cost to providing the services available on the accounts as well as allowing us to continue to improve the services that we provide to you.

We remain competitive with the new charging structure as we will not charge individual automated or non-automated transaction charges meaning that you know what you will only pay a maintenance fee for your day-to-day banking. Some other fees may be applicable for example, if you choose to use your Visa debit card outside the Eurozone.

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I wasn’t being charged maintenance or transaction charges – why has this changed?

From time to time we review our accounts and amend our Terms & Conditions as applicable. While some accounts have not had certain fees charged on them for a period of time, the cost to serve them is the same as on all of our current accounts. This change allows us to cover this cost of providing the services available on them as well as allowing us to continue to improve the services that we provide to you. 

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Will I be charged individual transaction fees as well?

No, we are removing automated and non-automated transaction fees so you will only pay the maintenance fee each quarter.

Some other fees may be applicable for example, if you choose to use your Visa debit card outside the Eurozone.

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What is the difference between maintenance fee and transaction charges?

Maintenance Fee is the flat monthly / quarterly fee on your current account to cover the cost of providing the service available with your account. These accounts all apply a quarterly maintenance fee, meaning that we charge it every 3 months.

Transaction Charges are split into two types:

Automated transactions - ATM withdrawal, Debit Card Transaction, Standing order/Bill payment debits, Direct debits, Direct credits, Telephone and internet banking transactions, Euro ATM withdrawals within the EU Debit Card Transactions within the Eurozone.

Non-automated transactions - Counter lodgements & withdrawals, Cheque/paper debits, Credit transfers incoming (paper items)

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When will the new maintenance fee be taken from my account?

It depends on the account that you have – please see the table below:

Current Account Type Charging Quarters  New Fee Charging Quarter* 
  • Standard Current Account
  • Loyalty Current Account
  • (including Loyalty Accounts as per your statement)
  • Cashline
  • Merit
  • Connect
  • Cashextra
  • 25 March
  • 25 June
  • 25 September
  • 25 December
25 September 2017
  • Current Account Plus
  • Current Account
  • 25 February
  • 25 May
  • 25 August
  • 25 November
25 November 2017
  • Cashflow Account
  • 25 January
  • 25 April
  • 25 July
  • 25 October
25 October 2017
  • permanent tsb Current Account
  • Everyday Bank Account
  • 1 January
  • 1 April
  • 1 July
  • 1 October
01 October 2017

*Fees are debited 21 days after the issue date on your quarterly statement

If you close your account after the charging period noted above has commenced the maintenance fee will apply at closure as you have entered a new charging quarter.

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My letter says that I can reduce my maintenance fee by lodging my salary – how can I set this up?

Some of the accounts enable you to get a discount on your maintenance fee or avoid paying it for a period of time if you lodge your salary to the account. In order to set this up you will need to

  1. Notify the bank that they want to seek the exemption i.e branch/Open 24; and
  2. Lodge your salary to your account

All other waivers that may be applicable to your account are applied automatically.

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Do I need to confirm in any way that I accept these changes?

If you accept the new fee structure to your account no further action will be required – there will be no change to your account details & it will operate as normal.

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How do I change my account to Explore account?

If you would like to convert your existing account to the Explore account you can do so by making an appointment at any permanent tsb branch with a form of acceptable photo & address identification. A list of acceptable documents can be found here.

If you decide to change to the Explore Account, there will be no change to your account details i.e. (any payments set up, your account number or Visa Debit Card details will remain the same).

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How can I close my account?

We would hope that you choose to continue to bank with us but if you would like to close your account with us you can do so by making an appointment at any permanent tsb branch with a form of acceptable photo ID. You can make an appointment at your local branch by calling 1890 800 900 or 01 212 4076

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How can I switch providers?

You will need to contact your new bank of choice who will start the switch process from their side and initiate contact with us. As required under the Central Bank of Ireland’s Code of Conduct on the Switching of Payment Accounts with Payment Service Providers, once we receive the Account Transfer Form from your new bank, we will switch your account to your new bank within 7 working days of the switching date (that has been agreed between you and the new bank).

Please note that independent information regarding current accounts that are available from all payment providers can be obtained from the Competition and Consumer Protection Commission Authority – www.ccpc.ie or by calling 1890 432 432 (low call) or 01 402 5555.

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I am over 60, is this increase applicable to me?

If you are aged 60 or over the new maintenance fee will not apply. Please see our booklet for a full list of charge exemptions that you may be eligible for.

If you are not already availing of this exemption and wish to, please notify your local branch or Open24. 

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How can I make a complaint?

If you wish to make a complaint you can do so in the following ways:

Please provide your phone number so we can discuss your complaint with you

If you contact us in person or by phone, we will offer you the option of having your verbal complaint treated as a written complaint, please let us know.

For full details on our complaints process please see the complaints charter on our website.

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My letter mentions that I can access GoREWARDS – what is it?

GoREWARDS is a new way of giving you cashback on a wide range of your favourite high street and online brands, in partnership with Visa. As long as you have a valid Visa Debit Card and an active email address you can register directly on the GoREWARDS website to start benefiting.

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Why did I receive a CCR insert with my letter?

There is a CCR insert included in with this letter; this insert contains information on the new reporting required for customers with loans of €500 or more. Find out more

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