Permanent TSB, has announced that it has now opened over 100,000 new current accounts so far in 2022, a c.250% increase on the same period last year. 70% of new current account openings are taking place through the Bank’s mobile app as customer adoption of digital channels increase.
The Bank has also opened over 35,000 new deposit accounts year to date, an increase of c.80% year-on-year.
The increases are driven by strong switching activity from personal and SME customers of Ulster Bank and KBC as these banks prepare to exit the market.
Permanent TSB has invested heavily in attracting both switching and other categories of new customers through a range of initiatives which include:
Following on from being awarded best current account by Bonkers.ie earlier in the year, Permanent TSB also won the Innovative Banking Product Award for its digital current account opening process at the 2022 FS Awards which took place yesterday Thursday, 27 October. Permanent TSB’s innovative digital current account opening process allows customers open a current account in minutes via the Permanent TSB app.
“This is a seismic year for current account switching and we’re delighted that so many new customers are placing their trust in us.
We are providing customers with our market-leading digital current account and a huge range of easy ways to join Permanent TSB.
We encourage any remaining Ulster Bank and KBC customers yet to choose an alternative provider to switch to us and Move Better to Permanent TSB.
They can switch to us online or in our 75 branches in communities throughout Ireland, and even in 46 Ulster Bank branches and our mobile and pop-up outlets.
We also have 40 digital onboarding stands in branches that make it easy to open an account through our app, with Permanent TSB people by your side to help you if you need it.”
Further details of where to open a Permanent TSB current account are available at www.permanenttsb.ie/inyourcommunity
In addition, Permanent TSB’s dedicated online hub www.permanenttsb.ie/movingbankhub provides step by step guides, hints and tips and videos explaining how to move one or more products. Through this hub, customers can learn more about the range of products the Bank has to offer including saving and deposit accounts, overdraft facility and the option to avail of 0% (fixed) interest on a credit card balance transfer for the first 6 months.
Permanent TSB Head of Corporate Affairs and Communications