An Overdraft is a credit facility on your Current Account which allows you to access funds up to an agreed limit above your actual balance.
So before you move your Current Account and Overdraft to permanent tsb, you’ll need to have a permanent tsb Current Account.
If you already have a Current Account in your own name, you can apply for an Overdraft on it, if it is an eligible account. Basic Payment Accounts and Teen accounts are not eligible for an Overdraft.
Warning: If you do not meet the repayments on your loan, your account will go into arrears. This may affect your credit rating, which may limit your ability to access credit, a hire- purchase agreement, a consumer-hire agreement or a BNPL agreement in the future.
To keep things official, there are just a few documents we will need from you.
Please see here for more information on each of these required documents.
Please Note: not all applications are the same and additional information may be required in certain circumstances. We’ll let you know as soon as possible if we require further information.
Lending Criteria, Terms and Conditions apply.
You can apply for permanent tsb’s award-winning Explore Account by downloading the permanent tsb app and selecting the “Current Account Application” icon and following the instructions.
To apply in app you have to be over 18, a resident in the Republic of Ireland and be a:
*If one or both of you are already customers with permanent tsb, you will need to to open your account. We are working hard to bring Joint Current Account opening to the app for our existing customers soon.
Step 1: Customer 1 starts the application, provides their basic information and uploads documents to verify their identity and is asked to invite Customer 2 to join the application
Step 2: Customer 2 receives an email invite to join the application, provides their personal details and uploads their documents to verify their identity.
Step 3: Once Customer 2 completes their step, Customer 1 is notified to log back in, review and submit the full application.
If you are a new permanent tsb customer (i.e. you do not yet have any products with permanent tsb) and you need to open both a sole and Joint Current Account, open your Joint Current Account in-app first. You can then return to the app as an existing customer and open a sole account.
Find out more about the Explore Account.
Once your Current Account is active you will need to register for Open24 Online Banking. When you open your Current Account in-app we will send you a text to complete your Open24 registration. You will need to complete this step before you apply for your Overdraft in-app. Find out more about Open24 Online Banking.
If you are registered for Open24 online banking, you can log into the permanent tsb app, select the “Overdraft Application” icon and follow the instructions.
Your application can only be taken out in your sole name in-app and will be subject to a full credit assessment and affordability assessment.Visit Open24
You will have to enter your PPSN when submitting your application in-app or provide it to us if applying over the phone or in branch. If we already have it on file, you will not have to provide it to us again. If approved, you will need to provide us with proof of your PPSN.
Please note: We cannot accept your Public Service card as proof of PPSN.
Find out more about documents we can accept.
If you are not registered for Open24 Online Banking or not yet a permanent tsb customer, you can make an appointment to pop into any of our branches and submit your application with one of our team. Call us on 0818 50 24 24, Monday to Friday (excluding bank holidays) 9am-5pm and 10am-2pm Saturday and Sunday, to make an appointment
Move funds to your new Current Account. Once your new account is open, you can lodge money, either as an Electronic Funds Transfer (EFT) or at a permanent tsb branch.
Your old account should be in credit when you are closing it to ensure there are enough funds to meet any bills, fees or charges that might be due.
If you apply in-app, and we require any documents in order to progress your application we will ask you to upload them and provide you with a link. We will update you on your application via SMS. If we need to confirm anything with you, we will contact you by phone so keep an eye out for our call.
We will call you on 01 0212 4251.
If we cannot reach you, we will send you a SMS.
We will never ask for personal information via SMS or include a link within the SMS for you to click.
We will not make unsolicited calls and ask for security information or security passcodes.
When your incoming credits and outgoing payments are updated and in order, it's time to close your old account and start making the most of your new permanent tsb account.
Don’t forget to transfer any remaining balance from your old account to your new account.
If after receiving your application and providing all your documents, your application is not approved, we will ring you to let you know and explain why.
Lending Criteria, Terms and Conditions apply.
How do I pick when to start moving my account?
When your new account is up and running, review your old bank account and look for a time on your account that has the least amount of activity i.e. a period where there is no Salary, Other Credits, Standing Orders or Direct Debits. This is normally towards the end of the month.
I don’t have a clear date available to start moving my account, what should I do?
If there are payments going out of your account throughout the month and there are no clear dates to start moving your account, there are a couple of things you can consider for both Direct Debits and Standing Orders:
Please note: This option (cancelling), will not be possible for all companies and will need to be checked with the business the Direct Debit is for e.g. cancelling a DD on your Life Assurance or Health Insurance may be considered a break in your contract and it could impact your cover.
Please note: As per above, you would first need to confirm this does not impact any Terms you have agreed to e.g. you may have an SO set up as a loan repayment.
How do I set up Apple Pay?
Getting set up is simple, click here for the steps on how to add your new card to Apple Pay.
How do I set up Google Pay?
How you set up Google Pay on your new card is outlined here.
What is Open24 and why do I have to register?
Open24 is the name of our online banking service. You can access your online banking on desktop at Open24.ie or by logging in on your mobile phone via the permanent tsb app.
You can view your balance, recent transactions and so much more. Our Online Banking page will provide you with more information.
When you open your account in-app, once it is active you will receive a text to prompt you to return to the app and complete your registration.
Otherwise, when you receive your Visa Debit card give us a call on 0818 50 24 24 or +353 1 212 4101 and we’ll set you up on Open24.View more FAQs
What is the minimum Overdraft amount?
Minimum Overdraft limit you can apply for is €500.00
What is the maximum Overdraft amount?
Maximum Overdraft limit is €30,000.00
What are the fees associated with an Overdraft?
A set-up fee of €25 applies (when the Overdraft is first used) and an annual renewal / review fee of €25 applies thereafter (will apply 12 months from the date that the set-up fee was deducted). Overdraft interest will apply. Lending criteria, terms and conditions apply. See here for information on set-up charges and interest rates.
I am switching my Current Account to permanent tsb, will my Overdraft move to my new account too?
An Overdraft will not move automatically to your new Current Account when you close your existing Current Account. An overdraft is a credit product, this means you have to submit an application and permanent tsb has to assess that you have the means to repay the Overdraft.
I am switching my Current Account to permanent tsb, will I have to clear my existing Overdraft balance before I close it?
If you have an Overdraft on your existing Current Account, you will need to ensure the balance that you owe, if any, is cleared before you close your account.
If you are not able to repay the balance before you close the account, you should first talk to your existing provider about the options available to you. Contact us on 0818 837 408 or 01 212 4022 to see how we can help.