Basic Payment Account  

The Basic Payment Account is available to all customers over the age of 18 who are legally resident in the European Union (EU) and do not hold any other payment or current account in the Republic of Ireland.

Eligibility Criteria and Restrictions

  • Customers must be over the age of 18 and legally resident in the European Union (EU)
  • Available to customers who don’t already hold a payment account or current account in the Republic of Ireland.
  • Only one account can be held per customer
  • Account can be held solely or jointly
  • No cheque book
  • No overdraft facility

If you are already the holder of one of these account types, you can only avail of this account where your old bank has informed you in writing that your account is in the process of being closed. You will need to give us a copy of that letter.

You will also be required to sign a declaration provided by us to confirm you do not already hold a payment or current account in the Republic of Ireland or if you do you have received notice that it will be closed.

You are not required to purchase any additional permanent tsb products or services in order to avail of the Basic Payment Account.

Account facilities

With the Basic Payment Account, the following facilities are available:

In order to avail of Open24 Online, Open24 Telephone, and our Mobile App, registration with Open24 is required.

eStatements: eStatements come as standard with the Basic Payment Account. Alternatively you can opt for paper statements but you must request this at account opening. You will need to be registered with Open24 to receive eStatements.

Contactless Visa Debit Card: Contactless is a quick, easy and secure way to pay for items up to €30 in value using your permanent tsb Visa Debit Card, with just a simple touch. Find out how Contactless works for more information about card transaction and withdrawal limits and how you can activate your Contactless Visa Debit Card and you can check our FAQ page.

Fees and Charges

With this account, you will not have to pay any maintenance or day-to day-transactions fees for 12 months from when you open the account. Some charges may apply. Any items that are returned unpaid (including Direct Debits and Standing Orders) will incur the appropriate charge. ATM transaction charges apply on Euro withdrawals outside the EU and on all non-Euro withdrawals. Debit Card transaction charges apply on all debit transactions outside the Eurozone. Government Stamp Duty will apply. Please see the Terms and Conditions and Personal and Business banking charges (pdf, 572KB) for more information on the charges that apply.

There will be no maintenance or day-to-day transaction fees on your account for the first five years as long as the total amount of lodgements made to the account each year are below the National Hourly Minimum Wage of €10.10 per hour multiplied by 2,080 (the figure of 2,080 being based on working a 40 hour week for 52 weeks of the year) totalling currently €21,008 but is subject to change.

If you lodge more than this amount in a 12 month period, you will be given two months written notice to advise that your account will be subject to fees or that you will be moved to another account type. Upon the expiry of a period of five years from the opening date of your account, charges will be applied to your account or the account will be converted to another permanent tsb personal current account. You will be provided with a two month notice period prior to this change taking place.

Required documents

1. Photo Identification
  • Your current national passport or
  • Your current valid Irish, UK or European driving licence (with photo) or
  • Your EU National Identity Card

All of the above must be in your own name.

2. Proof of Address

You can use any of the following:

  • A utility bill (dated within the last six months)
  • A bank or building society statement issued in the last six months
  • Your Determination of Tax Credits for the current year
  • Your original household/health or motor insurance documents (if less than 12 months old)

The name and address on your proof of address must match the details of your new account.

If you are applying via Open24, you will need to provide a certified copy of the above or two clear photocopies. Please note that additional documentation may be requested. 

You can have a certified copy made for you by An Garda Siochana/Police Officer, Practicing Chartered and Certified Public Accountants, Notaries Public/Practicing Solicitors, Embassy/Consular Staff, a Regulated Financial or Credit Institution, a Justice of the Peace, a Commissioner for Oaths, or a Medical Professional.

If you are unable to provide any of the documents listed above, please visit your local branch and talk to a member of our staff who can discuss alternative options that may be available to you. Find your nearest branch.  

Other Important Information

Terms and Conditions apply. Please see Terms and Conditions and  Personal and Business banking charges (pdf, 572KB). The Basic Payment Account is not available to business customers.  

Mobile app: We don’t charge you for using this app, however you may incur a data charge from your mobile phone operator for downloading and using it. Check with them if you’re not sure.

Fraud and Financial Crime: Learn how to keep your money safe and sound. Click here for more information.

Ways to bank with us

Bank whatever way suits you.

Need more information? Find out more about banking with us
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