Getting Brexit Ready


At permanent tsb, we appreciate that you may be concerned about the impact Brexit may have on you. That is why we are here to help you and have put in place necessary structures to support you during this uncertain period. We’re here to support you, particularly those of you most impacted by Brexit such as those residing in border counties, working in the Tourism Sector or operating an Agriculture or Food Business.

If you have any questions in relation to how Brexit might impact you, our Frequently Asked Questions (FAQs) below may help.

If you have a question not covered in our FAQs, please get in touch with our teams in Branch or call us on 1800 928 939.

Product Information

Will Brexit impact Mortgages or Loans offered by the bank?

Brexit will not impact Mortgage or lending products offered by permanent tsb, but your application may be affected if your personal circumstances are impacted by Brexit.

Will Foreign Exchange (FX) fees on my credit card go up/change?

FX fees will remain as per terms and conditions but, we will keep our customers up to date if there are any changes.

Will Brexit impact interest rates that could then impact my mortgage/loan rate?

Our mortgage interest rates are kept under constant review to ensure the bank’s offering remains competitively positioned in the market place for both new and existing customers. Any changes will be communicated to our customers.

What does this mean for my GBP accounts?

There will be no impact on your GBP Accounts.

I heard my UK drivers licence can no longer be used to open an account, is this true? Can I still use it to withdraw cash from the cash desk as I have no other ID or card?

As a result of Brexit, UK licences will not be acceptable for AML purposes. It will acceptable as one form of secondary ID but not enough on its own. UK licences will be still valid for withdrawals but we will notify you if this changes.

Foreign Exchange Queries

Can I still get sterling?

Yes, we will still sell and buy sterling notes and drafts/cheques after any Brexit deadline.

Where can I get information on Foreign Exchange (FX)Rates?

Please refer to the permanent tsb webpage or phone app for the daily foreign exchange rates.

Is there any change to the amount of GBP cash I can lodge or withdraw?

Current limits will still apply. If for some reason there were to be unusual volumes of currency movements, we would reserve the right introduce limits on the volumes we transact.

Will exchange fees increase?

Exchange rates are variable and will continue to move in line with market exchange rate movements - commissions remain as per terms and conditions but are subject to change.

Will exchange fees increase?

No, commissions remain as per terms and conditions but we will keep our customers up to date if there are any changes. Exchange rates are variable and will continue to move in line with market exchange rate movements.

Is now a good time to buy Sterling?

It is difficult to predict the likely impact on exchange rates. As we don’t offer FX products, we cannot provide advice on FX movements to customers.

Can I still withdraw cash in the UK?

Yes, cash withdrawals in the UK will not be affected.

Payments to and from the United Kingdom

Will payments to UK accounts still happen under Single Euro Payments Area (SEPA)?

Yes, the European Payment Council (EPC) approved the UK Finance Application for the UK to remain as part of SEPA scheme. However there are additional information requirements with the most important being that the address of the payer and the name of the payee account must be included on all payment transactions to and from the UK.

Will it take longer now to transfer money to the UK?

There will be no changes to the timeframes for the processing of payments going to and from the UK once all the required additional information to complete the payment transaction has been provided.

I am in receipt of pension/salary income from UK, will this change?

There will be no change to the receipt of your pension/salary from the UK once the UK bank processing the payment has provided all the information that is required to complete the payment transaction.

Will I still be able to buy goods and services online from sites such as Amazon?

You will be able to continue to use your permanent tsb Visa card for ordering from UK companies as normal.

Will there be additional charges on transactions Euro to GBP, Euro to Euro, GBP to GBP?

Exchange Rates are variable and will continue to move in line with market exchange rate movements.

Will I need to set up any direct debits again?

We are not aware of any reason why these would need to be setup again.

How do I update the payee name details standing orders?

It is not possible to amend the payee name for an existing standing order payment. You will need to setup a new payment and delete the old payment.

You can do this using any of the following ways:

  1. Log into the Open24.ie desktop site or Tablet App. Navigate to the ‘Regular payments’ section within ‘Payments and Transfers’ and select ‘Create a standing order’. You will then be asked to provide the name of the payee. Please remember to have your mobile to hand in order to authenticate the setup of the standing order payment.
  2. Contact our Open24 team on 0818 50 24 24 (+353 1 212 4101). We are available Monday to Friday (excluding Bank Holidays) between 8 a.m. - 8 p.m. and between 10 a.m. - 5 p.m. Saturday and Sunday; or
  3. Drop into your local branch.  Please ensure you bring valid identification e.g. driver’s licence or passport with you.
How do I update the payee name details for third party payments?

It is not possible to amend the payee name for an existing third party payment. You will need to setup a new payment and delete the old payment.

You can do this using any of the following ways:

  1. Log into the Open24.ie desktop site or Tablet App. Navigate to the ‘Transfer to another account’ section within ‘Payments and Transfers’ and select ‘Add a Payee’. You will then be asked to provide the name of the payee. Please remember to have your mobile to hand in order to authenticate the setup of the third party payment.
  2. Contact our Open24 team on 0818 50 24 24 (+353 1 212 4101). We are available Monday to Friday (excluding Bank Holidays) between 8 a.m. - 8 p.m. and between 10 a.m. - 5 p.m. Saturday and Sunday; or
  3. Drop into your local branch. Please ensure you bring valid identification e.g. driver’s licence or passport with you.
I don't know if I have a standing order or a third party payment on my account - What is a standing order or a third party payment?

A standing order is a reoccurring payment that you may have set up to go out to a payee on a weekly or monthly basis.

A third party payment is a payment you have set up to send to a payee on a once off. These details will be stored on the system for you to be able to send another one off payment to this payee when required. 

How do I add my address to a direct debit that is on my account?

You need to contact the originator (the person who you pay the direct debit to) and provide them with your address details, for them to organise with their Payment Service Provider (PSP) to have it added to the direct debit payment file. Once the originator does this, your direct debit will continue to be paid from your account as normal, avoiding the risk of any payments disruption after 31 December 2020.

What will happen if the direct debit company does not update my address on the file?

If your full name and address is not included on the payment file your direct debit will not be processed and will be returned to the UK Payment Services Provider (PSP) as it will be a requirement to provide these details on all payments to and from the UK from 01 January 2021.

Why can’t permanent tsb add my address to the file?

For direct debits coming from the UK; permanent tsb is unable to add your address to the direct debit file on your behalf; this can only be completed by the originator’s Payment Service Provider (PSP).

For any credit transfer going to the UK from permanent tsb we have already updated your address on the required payment transactions.

I send payments to a bank in Northern Ireland does this impact me?

Yes, any payments going to and from the UK will be impacted.

What can I do if my direct debit company will not add my address to the file?

To ensure continuity of your direct debit payment, you can arrange with your direct debit originator that an alternative means of payment, e.g. SEPA credit transfer, card payment etc., be used.

Data Protection

Does PTSB transfer my personal data to the UK?

Your personal data may, at times, be transferred to the UK in connection with transactions on your account (e.g. if you lodge a sterling cheque or make a payment to a UK Bank account).  Any such transfers to the UK are made in accordance with applicable data protection law. 

Does permanent tsb transfer my personal data to the UK?

Your personal data may, at times, be transferred to the UK in connection with transactions on your account (e.g. if you lodge a sterling cheque or make a payment to a UK Bank account).  Any such transfers to the UK are made in accordance with applicable data protection law. 

Help and Support

Who can I contact if I want to speak to someone about how Brexit will impact on my financial circumstances?

You can contact permanent tsb on the below number to make a branch appointment to speak to a qualified financial advisors» Our Main Open24 number is 1800 928 939

What is the process for customers in financial difficulty?

If you are having trouble meeting your Mortgage, Credit Card or Personal Loan repayments or are worried that you may have trouble in the future, please get in touch.

We have a dedicated team available to take your call on 1800 855 010 or + 353 21 601 3800.

Further information can be found on the BPFI website here: BPFI 

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