Account Closure

Closing an Account

• How to close a Current account
• How to close a Deposit account
• How to cancel an Overdraft facility
• How to cancel a Credit Card
• How to close a Mortgage Account

How to close a Current Account

All personal current accounts can be closed remotely or by attending your local branch.

Key points to note for closing any current account:

• If the account is in a negative balance you must lodge sufficient funds to bring the account to zero (€0.00) before proceeding with the account closure.
• Any outstanding fees must be repaid before the account is closed. Please note that fee exemptions (if applicable on your account) do not apply upon closure.
• All customers must complete an Account Closure Form and provide acceptable ID* as outlined on the form.
• By closing the account you will lose all features and benefits that exist on the account. These include but are not limited to charging structure, fee exemptions, credit interest etc. (as applicable) and it is important to note you may not be eligible for this account type in the future.
• On closure of an Explore you will lose entitlement to Spend and Save Rewards and/or Mortgage Cashback payments including any which are pending but which have not yet been credited to the Explore Account.
• If there are any funds remaining in the account at time of closure, you are required to advise on how you want to receive these funds. Please provide your account details i.e. IBAN, BIC and name and address of your bank if you want funds by electronic transfer.
• If the account is a Joint Account we require all parties to sign the account closure form. If however it is not possible for all parties to sign the same form, please complete an additional form.
• Please note: Upon closing this account you will lose access to any documents including eStatements held on Open24. If you wish to retain these documents, you should download and save them prior to closing the account.

If you are closing the account remotely you must print and complete the Account Closure form and send this form accompanied by the required ID* to your local branch.

*Please ensure the following ID accompanies this Closure Form in order for Ptsb to complete your request: Copy of certified photographic ID (Passport, Driver’s license) Or 2 forms of photographic ID (Not certified).

As part of the remote account closure process a member of our staff will need to contact you to confirm the closure request. We are required to use the contact number on file, please ensure the mobile number that permanent tsb holds is up to date. If the contact number on file is incorrect, you are required to update the number with a member of the Open 24 team prior to sending in the account closure request. Please note: If we cannot contact you by phone, it may result in this request being delayed or not completed.

How to close a Deposit Account

All deposit accounts, except for online deposit accounts, can be closed remotely or by attending your local branch. Online deposit accounts can only be closed by writing to Deposit Services.

Key points to note for closing deposit account:

• To All customers must complete an Account Closure Form and provide acceptable ID* as outlined on the form.
• By closing the account you will lose all features and benefits that exist on the account. This includes, but is not limited to credit interest and it is important to note you may not be eligible for this account type in the future.
• If there are any funds remaining in the account at time of closure, you are required to advise on how you want to receive these funds. Please note there may be credit interest accruing in the background. Please provide your account details i.e. IBAN, BIC and name and address of your bank if you want funds by electronic transfer. If you wish to withdraw your funds by bank draft there is an applicable fee, please refer to our fees and charges for details.
• To close a fixed term account after the 14 day cooling off period and before account maturity will result in an early account closure fee being applied, please refer to our Terms & Conditions booklet for further details on this charge.
• Closures can be completed on a Notice account at any time but if the required days' notice isn’t provided an early withdrawal charge will be applicable, please refer to our Terms & Conditions booklet for further details on this charge.
• If the account is a Joint Account we require all parties to sign the account closure form. If however it is not possible for all parties to sign the same form, please complete an additional form.
• Please note: Upon closing this account you will lose access to any documents including eStatements held on Open24. If you wish to retain these documents, you should download and save them prior to closing the account.

*Please ensure the following ID accompanies this Closure Form in order for permanent tsb to complete your request: Copy of certified photographic ID (Passport, Driver’s license) Or 2 forms of photographic ID (Not certified).

If you are closing the account remotely you must print and complete the Account Closure form and send this form accompanied by the required ID* to your local branch. If you are closing an account that was originally opened online you need to send the closure request to Deposit Services, 4th Floor, 56-59 St. Stephen’s Green, Dublin 2.

As part of the remote account closure process a member of our staff will need to contact you to confirm the closure request. We are required to use the contact number on file, please ensure the mobile number that permanent tsb holds is up to date. If the contact number on file is incorrect, you are required to update the number with a member of the Open 24 team prior to sending in the account closure request. Please note: If we cannot contact you by phone, it may result in this request being delayed or not completed.

How to cancel an Overdraft facility

All personal Overdrafts can be cancelled remotely or by attending your local branch.

Key points to note for cancelling and Overdraft facility:

• To cancel an overdraft your account cannot be in a negative balance.
• You can cancel a personal overdraft by attending your local branch and providing a written request to cancel the Overdraft. By attending your local branch. You will need to bring along a form of acceptable photo ID* and all parties on the account must give authorisation to cancel the facility.
• Cancellation of overdrafts are permanent. If you require an overdraft in the future you must apply for a new overdraft facility.
• Please note that your account must remain in credit during the cancellation process.

*Please ensure you bring the following ID when attending your branch or that the following ID accompanies the written request in order for Ptsb to complete your request: Copy of certified photographic ID (Passport, Driver’s license) Or 2 forms of photographic ID (Not certified).

If you are cancelling the facility remotely you are required to send written instruction including name and account number and send this instruction accompanied by the required ID* to your local branch.

As part of the remote process a member of our staff will need to contact you to confirm the cancellation. We are required to use the contact number on file, please ensure the mobile number that permanent tsb holds is up to date. If the contact number on file is incorrect, you are required to update the number with a member of the Open 24 team prior to sending in the account closure request. Please note: If we cannot contact you by phone, it may result in the cancellation being delayed or not completed.

How to close a Credit Card account

All personal Credit Cards can be cancelled remotely by phone or post, or by attending your local branch.

Key points to note for cancelling a Credit Card

You should cancel all recurring payments you have with retailers directly (this includes subscriptions and direct debits) Make any final payments to the account and this should include:

• Any outstanding balance on the card
• Government stamp duty of €30

You can close your Credit Card facility by attending your local branch. By attending your local branch you will need to bring along a form of acceptable photo ID*.

The principal card holder must cancel the credit card facility.

If you are cancelling the Credit Card facility remotely you are required to send written instruction including name, account number and card number and send this instruction accompanied by the required ID our Visa department, Main street, Dundrum, Dublin 14.

As part of the remote process a member of our staff will need to contact you to confirm the cancellation. We are required to use the contact number on file, please ensure the mobile number that permanent tsb holds is up to date. If the contact number on file is incorrect, you are required to update the number with a member of the Open 24 team prior to sending in the account closure request. Please note: If we cannot contact you by phone, it may result in the cancellation being delayed or not completed.

You can also close your credit card facility by calling us on 0818 211 611 OR +353 1 212 4865. Our lines are open 9am to 5pm Monday to Friday (excluding bank holidays) and 10am to 2pm Saturday and Sunday.

How to close a Mortgage Account

All mortgages can be closed by contacting Open24 or attending your local branch.

Key points to note for closing a mortgage:

• In order to close your mortgage contact 0818 50 24 24 to request a redemption figure. These can take up to 5 working days to be issued and are valid from the date they are issued for 20 days.
• Once a customer receives their redemption figure, a customer can visit their local branch with photographic ID to close their mortgage account.
• If a customer lives abroad, they can write a letter to their local branch with certified photo ID attached to close their mortgage account.
• When issuing redemption figures, a property can be charged against multiple mortgages. In these cases we would issue the figures for each of these accounts.
• The redemption figures give the customers the exact figures they need to lodge to close their mortgage for 20 days
• Customers do not however need to have this figure to close a mortgage, they can lodge funds directly to the mortgage, lodge a cheque etc.
• Once the loan is closed, a letter is issued to the customer confirming that the loan has closed and to confirm that the bank release our interest in the insurance policies linked to the mortgage. The customer will also be contacted in relation to their deeds.