• Switching guide

Switching your current account - made simple

Your guide to switching current accounts

Step 1 - Getting started

You can apply to open your current account in your local branch, or online. 

Click here to find out what documents we'll need from you

Your new account will be up and running within 10 working days once your application has been approved.

We will order bank cards for your new account, help you set up telephone and internet banking and arrange any bill payment you need. Your new account will have the ability to send and receive Single Euro Payments Area (SEPA) payments, should this be required.

Starting Your Switch

We will help you to select a Switch Date. This is the date that the switching process between your old bank and permanent tsb will begin and usually at a time when there is the least activity on your account. The switching process takes no more than 7 working days to complete.

Step 2 - We'll let your old bank know you're switching

All you have to do is sign an Account Switching Form (pdf, 710KB) (you're not seeing double, we do need you to fill out two of these!) and we will send it to your old bank.

On the form you can choose to close your old account completely or keep it open.

Step 3 - Standing orders & direct debits

Your old bank will inform the companies of your new account details. We'll call you once your switch is complete , confirm the payments set up on your account and provide information to help avoid any difficulties.  

You will also receive a copy of this list from your old bank. Please check this carefully and let us know if any changes are required.

Should you hold a Direct Debit with any companies outside the State you should contact these companies and inform them of your new account details also.

Step 4 - We'll help you let people know about your switch

You can inform your employer of your new account details by completing a Credit Transfer Form (548 KB). You can also re-direct any other regular payments into your new account e.g. child benefit, share dividends etc. We will provide you with all the forms you need.

Step 5 - Up and Running

Our dedicated Switch Buddies will call you and make sure everything is ok with your new account and keep you informed during your switch.

Closing your old current account?

Here are some things you should know:

  • Bank cards Once your new current account is up and running and you have your new cards, you should return your old bank card to your old bank.
  • Fees and Charges Your old account should be in credit if you are closing it to ensure there are enough funds to meet any fees or charges that may be due.
  • Cheques If you switch and close your old bank account, cheques drawn on that account will be returned unpaid to the presenting bank however your old bank may be obliged to pay cheques under the Cheque Card Guarantee Scheme. If this is the case these cheques will be forwarded to your new bank for payment and charged to your new account.

More information for our Non-Personal customers

  • Direct Debits If you are a direct debit Originator, you will need to change your sponsoring bank.
  • Payroll Please check your payroll arrangements and prepare for any changes that will need to be made arising from the switch.
  • Documentation Changes Please check your documentation e.g. invoice documentation to ensure the Bank Identification Code (BIC) and International Bank Account Number (IBAN) for the new account are noted.

If you have any questions in relation to switching, drop into your local branch or call our dedicated Switch Centre on 1890 500 195. The line is open 8am to 8pm Monday to Thursday, 9am to 5.30pm Friday and 10am to 2pm on Saturdays. Calls may be recorded.

Important things to note

If you are switching from your old bank and closing your account.

  • All active Direct Debits and Standing Orders on your "old account" will be cancelled with effect from your start date.
  • Any outstanding debit card or ATM transactions will be forwarded to your new bank.
  • You will receive a refund of stamp duty paid on any unused cheques that are returned to your old bank.
  • Any interest or fees or charges due on your "old account" will be applied prior to it being closed.
  • Any credit balance held in your "old account" will be transferred to your new account.
  • You will receive a closing statement on your old account, you can also request a statement for the previous 12 months on your "old account" free of charge, should you require same.
  • You should refrain from using the cards or cheque book on your old account once the switching process has commenced.

If you are switching from your old bank and keeping your account open.

  • All active Direct Debits and Standing Orders on your old account will be transferred to the new account.
  • You are liable for stamp duty on cards on both the old and new account.
  • You may get a statement of the account for the last 12 months free of charge.
  • You may need to notify some credit sources if you want payments to go to your new account.
What if I want to switch out?

If you’re ever unhappy with your permanent tsb Current Account and want to switch to another bank, we’d be very sorry to see you go but we’ll switch your account to another bank within 7 working days of your chosen switch date.

We’ll transfer the balance remaining on your account (if you’re closing your account) to your new bank and send them a list of your Direct Debits and Standing Orders. We’ll also notify the companies of your new bank account number.

Confused? Don't be.

Current Accounts

Read up on the features of our Current Account before you switch

Code of Conduct on Switching

Read the 'Code of Conduct on the Switching of Current Accounts with Credit Institutions' on the Central Bank website

Ways to bank

Bank wherever you are, whenever you want. Take advantage of all our ways to bank, from online to mobile banking.

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