Following a review of our current accounts, we have decided to standardise and simplify our legacy accounts. The following existing accounts will be retired and customers will be moved into four new account types.

Existing Account Name New Account Name

Cash Extra

PTSB CURRENT ACCOUNT3
Loyalty Account PTSB CURRENT ACCOUNT3
Loyalty Current Account PTSB CURRENT ACCOUNT3
Standard Current Account PTSB CURRENT ACCOUNT3
Cashline PTSB CURRENT ACCOUNT3
Merit Account PTSB CURRENT ACCOUNT3
Connect PTSB CURRENT ACCOUNT3
Exisiting Account Name New Account Name
New ptsb Current Account (E4) PTSB CURRENT ACCOUNT4
Everyday Current Account (credit facilities)(E1) PTSB CURRENT ACCOUNT4
Everyday Current Account (No credit facilities)(E2) PTSB CURRENT ACCOUNT4
Exisiting Account Name New Account Name
Cashflow PTSB CURRENT ACCOUNT1
Exisiting Account Name New Account Name
Current Account PTSB CURRENT ACCOUNT2
Current Account Plus PTSB CURRENT ACCOUNT2

The key changes are as follows

  • The exemption criteria for avoiding the maintenance fee on the new accounts will be standardised to a minimum daily cleared balance of €2,500
  • An overdraft set up/renewal fee will be applicable to all of the new account types
  • Credit interest will be standardised on the new accounts to 0.01% gross on balances up to €1,500

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 and what options are available to you.Your letter will contain a comparison table with full details of the changes being made to your account.

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

Is there any way I can avoid the quarterly fee for maintaining the account?

The only way to avoid this fee is to maintain a minimum daily cleared balance of €2,500 every day during each charging quarter. We have tools you can use to help you keep track of your balance, for example you can sign up for Text Alerts via Open24 to alert you when your balance is about to fall below a specified amount, you can also track your balance on the app and Open24.

Please note that your account balance will not be updated for lodgements made by cheque, bank draft, or other credit lodgements until value has been received

Do I need to take any further steps to avail of credit interest?

No, as long as your account is open on the 31st of December each year you will be eligible to earn credit interest.

My letter states that I could earn interest on my old account type but I have never received interest on my account.

If you were in the Loyalty Current Account, Current Account or Current Account Plus you had to opt in for Credit Interest and lodge €1,500 for 10 of the 12 months annually. Please see our Terms & Conditions and Personal & Business Banking charges booklet for more information.

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

There will be no changes to your existing charging quarters.

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 and it will operate as normal.

How can I cancel my Overdraft?

If you would like cancel your Overdraft you can do so by making an appointment at any
permanent tsb branch.

You can make an appointment at your local branch by calling 1890 800 900 or +353 1 212 4076. You will need to bring along a form of acceptable photo ID and all parties on the account must authorisation to remove the overdraft facility. You will receive a notice letter 35 days before the Overdraft Renewal Fee will be charged to your account. If your overdraft is cancelled within the 35 calendar days’ notice you will not be charged the renewal fee.

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 dropping into any permanent tsb branch with a form of photo ID. You can make an appointment at your local branch by calling 1890 800 900 or 01 212 4076. Please note that all parties on the account must provide authorisation to close the account.

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.

I am over 66, is this increase applicable to me?

If you were aged 60 or over before the 13th of January 2018 or currently 66 and over, the only change that will be applicable to you is the change to your account name and the standarisation of credit interest. Please see our Terms & Conditions and Personal & Business Banking charges 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.

How can I make a complaint?

Please view our Complaints Charter on how to submit a complaint.

I have received this letter but I do not have an account with permanent tsb?

If you are affected by these account changes we will either have recently written to you, or will be writing to you in the coming weeks

It may be the case that this account has not been in use in recent times. If you are unsure about the details of your account and have some questions on your account please contact 1890 500 121 or 01 212 4101 

If you would like to discuss the details of this letter specifically, please contact 1890 800 900 or 01 212 4076. Alternatively, you can drop into your local branch where they can provide you with further details.

I currently have an 18 month Salary Exemption on my account, can I still avail of this?

If this exemption is currently on your account, you will avail of it until the 18 month timeframe has elapsed.

Back to top
Page loading

Alternate Text