Switching your Current Account FAQs


How do I choose a switch start date?

To choose a switch start date, review your old bank account and look for a time on your account which has the least amount of activity i.e. a period where there’s no Salary, Other Credits, Standing Order or Direct Debit activity for 7-10 working days. This is normally towards the end of the month. Pick a date within this time frame that is a week day (Monday to Friday).

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I don’t have a clear date available to select a switch start date, what should I do?

If there are payments going out of  your account throughout the month and there are no clear dates available to select a switch start date, there are a couple of things you can consider for both Direct Debits and Standing Orders:

Check your transactions and identify a time when there is the least number of debits on your account.

If you choose a date that will impact a Direct Debit (DD):

  • Contact your Direct Debit provider to see if they can change the Direct Debit to a different date; or
  • Cancel the impacted Direct Debit with the company directly and make a manual payment for when the payment is due during the switch. You will then need to set up a new DD mandate with the company for any future payments from your new permanent tsb account. 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.

If you choose a switch date that will impact a Standing Order (SO):

  • Amend the date the SO is due to be debited from your old account before the switch start date; or
  • Cancel the SO and make a manual payment. You can then set up a new SO on your new permanent tsb account through Open24 online banking on desktop. Again, 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.

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How do I close my old account?

You have two choices when you are filling out your Account Transfer Form (switch form). If you want to switch your account and close your old account, select ‘Option A’. We will then send the Account Transfer Form to your old bank and notify them that you wish to switch and close your account.

If you want to keep your old account open, select ‘Option B’ on the Account Transfer Form.

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Do I have to close my old account if I am switching?

No, you have two choices when filling out your switching form. You can choose Option A: Switch your account and close your old account; or Option B: Switch your account and keep your old account open.

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How long does the switching process take?

The formal bank to bank switching process, takes 10 working days from your switch start date. Your switch start date is considered day 1.

Our switch team will need to receive your switch form at least 6 working days before your switch start date.

If you want to switch your Current Account yourself, rather than going through the formal switching process, see details on Self-Switch and the steps to follow here.

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Will permanent tsb switch all payments over to my new current account?

No, not all payments are moved under the formal switching process.

There are different types of ‘payments’ (Direct Debits & Standing Orders, Recurring Card Payments and Third Party Transfers). It’s important you are familiar with each type of payment (Direct Debits & Standing Orders, Recurring Card Payments and Third Party Transfers) and what has to happen, before you start your switch. The next FAQ’s explain each one of these payment types and what you need to do for each one.

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Who switches my Direct Debits?

If you are switching in to permanent tsb using the formal bank to bank switching process, your old bank will inform your SEPA Direct Debit providers (companies you have a Direct Debit with), in writing of your new permanent tsb account details. These companies are then responsible for updating your account details. We do recommend that you also contact these companies to check they have updated your details before the next due date of your next Direct Debit, and to check if you need to sign a new Direct Debit mandate.

For contact details of most common providers, please click here.

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Who switches my Standing Orders?

If you are switching in to permanent tsb using the formal bank to bank switching process, your old bank will send us details of any Standing Orders that you may have and we will set these up on your new Current Account. If a Standing Order is due for payment during the switch and has not already been paid from your old account, we will backdate it so that no payments are missed.

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What happens to my recurring Card Payments e.g. subscriptions?

You may have other regular payments being debited from your account that are not Direct Debit or Standing Orders e.g. Netflix, Spotify or E-Flow. These payments usually appear on your statement as ‘POS’ payments, as they are attached to your card details (either Debit Card or Credit Card). For these types of payments, you will need to update your payment details with your new card details.

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What happens to my 3rd Party Transfer Payments i.e. payment details of friends?

If you have any 3rd Party Transfers set up on your old account or once off payments e.g. to friends or family, these will not be set up on your new account and you will need to set these up manually through your Open24 internet banking on desktop. Once this type of payment is set up, it will then be available to use again on desktop and/or on your mobile app.

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Will permanent tsb transfer my salary or other credit payments to my new current account?

No, you will need to inform any companies who make credits to your account of your new bank account details e.g. Salary, Child Benefit, Social Welfare, Pensions, Share Dividends etc. Please keep this in mind when choosing your switch start date as you may need to give a specific notice period to these companies. If a company requires a written confirmation of your new account details, you can complete and send this Credit Transfer Form, to inform any companies who credit your account to inform them of your new details.

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When will I hear from the Switch Team?

If you are switching in to permanent tsb using the formal bank to bank switching process, you will hear from our Switch Team at certain points during your switch:

5 Days before your switch start date - We will send you a Pre-Switch letter. This will outline how the process works and next steps you need to follow for a successful switch. We will also issue an SMS reminding you that your switch date is soon.

2 Days before your switch Start Date – We will send you an SMS reminding you of your switch start date.

After the switch has completed – We will send you an SMS confirming that your switch is complete.

If there are any issues with your switch, a member of our Switch Team will ring you to provide you with an update. If we cannot reach you by phone, we will send you a letter.

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My switch date is soon, what do I need to do?

We will send you a Pre-Switch letter 5 days before your switch start date which will outline what you need to do and next steps. This will include information on your Direct Debits, Standing Orders and how to switch your salary and other regular repayments to your new account. Important: To make sure your switch is successful, please do not use your old bank’s Visa Debit Card in shops or online during the 5 working days before your switch start date.

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Where can I find the Account Transfer Form and where do I return it to?

Please note, the Account Transfer Form is also commonly referred to as the switch form or switching form.

You can find the Account Transfer Form online here. Once complete, please return the form to our freepost address:

Permanent TSB

4th Floor

56-59 St Stephens Green

Dublin 2

Alternatively you can drop it into any permanent tsb branch.

We recommend that you use black pen when completing your Account Transfer Form, as other pen colours can become faint during the scanning process.

Please ensure that you fully complete your form, as missing information will delay the switching process. If information is missing, our Switch Team will contact you.

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There are two options on the Account Transfer Form, Option A and Option B – What is the difference?

You will need to pick either Option A or Option B when completing your Account Transfer Form.

Option A – Select this option if you want your old bank to transfer your account balance to your new account and close your old bank account.

Option B – Select this option if you want the balance to remain in your old account and the old account to remain open.

It is important that you pick the option that best suits you. For both Option A & Option B:

  • All Standing Orders will switch to permanent tsb
  • Your old bank will contact your Direct Debit providers with your new account details and request they update your details.
  • You should contact your Direct Debit providers to confirm your details have been updated to your new account details.

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How long before my switch start date do I need to stop using my old bank’s Visa Debit Card?

If you are closing your old bank account, you must stop using your old Visa Debit card 5 working days before your switch start date. If there are pending transactions on your old account, it may result in your switch being declined. You can however continue to access money from your old bank account using your old Bank’s ATM machine for cash withdrawals only.

It is important that you have access to funds that will cover the 10 working days of your switch. We recommend that you transfer sufficient funds into your new permanent tsb current account by transferring online or lodging at a branch.

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What does the Switch Team do?

Our Switch Team will help you to complete your Current Account switch from your old bank.

Our Switch Team will engage with your old bank and send them the Account Transfer Form.

Please review a breakdown of what the Switch Team does and what you will need to do hereIt is important to note that there are some parts of the process that our Switch Team cannot complete for you e.g. updating your employer with your new bank account details and switching your Direct Debits.

Our Switch Team will send you reminder texts of your switch start date and confirm when your switch is complete. They will also contact you during the process if there are any issues.

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How do I contact the Switch Team?

If you need to discuss your switch, you can contact our Switch Team on 0818 600 187, Monday to Friday 9am to 5pm (excluding public and bank holidays).

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My switch has complete but my Direct Debits (DD’s) are not set up?

It is important to note that permanent tsb does not switch your Direct Debits as part of the formal bank to bank switching process. If your switch is complete, your old bank will have informed your Direct Debit companies of your new account details. However, sometimes companies will not act on the instruction from your old bank to update your account details. We always strongly advise that you contact these DD companies directly to ensure they have acted on the instruction sent to them by your old bank. Please note, it can take up to two working days before your DD’s due date, before they appear on your account. However you should contact the companies you have DD’s with to make sure everything is in order.

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