The Fee Waiver feature which allowed an exemption to the Quarterly Account Maintenance Fee on PTSB Current Account 1, 2, 3 and 4 will be removed from the next charging quarter of the account.
Previously, you may have been exempt from paying the fee for maintaining your Current Account by maintaining a daily cleared credit balance of €2,500 throughout the charging quarter, you will no longer be able to avail of this waiver on these account’s as per the below dates:
If you have a PTSB Current Account 1, 2, 3 or 4 you will receive 2 months written notice ahead of your next charging fee quarter. There is no action required as a result of the letter. It will outline the change to your account and what options are available to you if you do not accept the change.
You can find the name of your account under “Account Overview” in-app, when you log into Open24 on desktop, or on your Bank statement.
For customers with a PTSB Current Account 1, 2, 3 or 4, the fee waiver change will take effect from the next charging period of your account (beginning on 25th of October for PTSB Account 1, 25th August 2023 for PTSB Account 2, 25th September for PTSB Account 3 and 1st of October for PTSB Account 4).
The maintenance fee will be deducted from the account after 25th January 2024 (Account 1), 25th November 2023 (Account 2), 25th December 2023 (Account 3) or the 1st of January 2024 (Account 4).
If you did not avail of the fee waiver there is no change to the deduction of the maintenance fee from your account. For more information on Quarterly Charging Periods, please see our Terms and Conditions and Personal & Business banking charges.
The maintenance fee is a flat €18 per quarter. There are no day-to-day transactions or contactless fees for using your Visa Debit Card or for other things like setting up Direct Debits and Standing Orders on your account. There may be other charges for things like Government Stamp Duty on your debit card unpaid items, or if you use an ATM outside the Eurozone.
Aside from the fee waiver no longer being available, there will be no changes to your account. Payments in and out of the account will not be affected.
If you are agreeable to the fee waiver removal then no further action is required.
If you do not accept the change, there are a number of options available to you before the new charging fee quarter takes effect.
Here’s a reminder of what the maintenance fees enable us to do for you:
Previously the account maintenance and transaction fees may have been waived for customers who kept a minimum daily cleared balance of €2,500 in their PTSB Current Account 1, 2, 3 or 4, throughout the fee quarter. Going forward, regardless of the minimum daily balance maintained throughout the fee quarter, the maintenance fee will apply regardless of the cleared balance maintained in the account.
We need to make sure that we can cover the costs of providing banking services and continue to improve our Current Account products. By doing so, we can offer you a wide range of services and ensure the best banking experience for you.
Full time secondary level or third level students in a CAO recognised institution can avail of our student account option. If you are over 66 years (or between 60 & 66 years if your account was opened on or before 13th January 2018) you are eligible for fee and charge exemption regardless of the balance maintained in your account. This means the presence of an account holder who, from our records, is over 66 years old (or if you opened your account on or before 13 January 2018 and were 60 years or older at the time of opening the account). This exemption will remain in place as long as at least one account holder falls into the age category mentioned above.
Yes we continue to waive maintenance and transaction fees for:
Other fees and charges may apply. Details are available in our Personal and Business Banking Charges.
No, the €18 quarterly maintenance fee will be applied even if you continue to hold that balance.
No, this is an automated process.
We continue to waive maintenance and transaction fees for:
• Student Accounts;
Other fees and charges may apply. Details are available in our Personal and Business Banking Charges.
If you are eligible, you can avail of this account at your local branch.
These changes are regarding PTSB Account 1, 2, 3 and 4.
No, there are no additional day-to-day transactions or contactless fees for using your Visa Debit Card or for other things like setting up Direct Debits and Standing Orders. There may be other charges for things like Government Stamp Duty on your debit card unpaid items, or if you use an ATM outside the Eurozone.
No, these features are only available on our Explore Account. In order to get these benefits you would need to convert your account to an Explore Account. You can convert to an Explore Account at any PTSB branch. If you hold a joint account, both parties will need to attend a branch to convert your current account. You can contact our dedicated team who can arrange a 15 minute appointment to convert your account on 0818 600 217 or +353 1 655 0559.
Benefits of the Explore Account include 10c back every time they pay with your card in-store, online or with Apple or Google Pay earning up to €5 cashback each month. We’ve also partnered with some of Ireland’s leading brands such as Sky, SSE Airtricity and Circle K to avail of great savings on regular bills. There are no day-to-day transaction fees and a flat €6 monthly fee for account maintenance applies.
The maintenance fee is a flat €18 per quarter and there are no ways to reduce this charge. However there are no additional day-to-day transactions or contactless fees for using your Visa Debit Card or for other things like setting up Direct Debits and Standing Orders. There may be other charges for things like Government Stamp Duty on your debit card unpaid items, or if you use an ATM outside the Eurozone.
The maintenance fee is a flat €18 per quarter. There are no day-to-day transactions or contactless fees for using your Visa Debit Card or for other things like setting up Direct Debits and Standing Orders on your account. There may be other charges for things like Government Stamp Duty on your debit card unpaid items, or if you use an ATM outside the Eurozone.
Yes, you can convert your account to an Explore Account. You can contact our dedicated team who can arrange a 15 minute appointment to convert your account on 0818 600 217 or +353 1 655 0559 at your nearest branch.
You will need to attend a PTSB branch to convert your account to an Explore Account. If you hold a joint account, both parties will need to attend a branch to convert your current account.
You will be notified by statement before the maintenance fee is deducted from your account.
We review our accounts on an ongoing basis. We may alter applicable fees and charges and / or introduce new fees and charges, on giving you two months written notice in accordance with our Terms and Conditions.
No action is required upon receipt of the letter. If you do not agree with the change to your account and wish to avail of one of the options in your letter, you can write a written request to your home branch.
You will need to provide certified ID and proof of address (or if uncertified you will need to provide two forms of photo ID and two forms of Proof of Address) with your request in order for the branch to facilitate your request. You can see examples of the document types we can accept here.
Please contact our dedicated team on +353 1 655 0559 who will be happy to check the document requirements with you. You can use our Branch locator to locate address details of your local branch.
An “inactive” account status is used by the Bank to safeguard your funds. Your account may enter an inactive status where you have not carried out any transactions on your account for a period of three years or more (but less than fifteen years), and if your account had a balance greater than €100.
You will have to provide up to date photo and proof of address identification documents. Details of acceptable documentation can be found here. You can contact our dedicated team on 0818 600 217 or +353 1 655 0559 who will arrange a 15 minute appointment for your local branch to reactivate your account at a time that suits you.
If you are over sixty six years of age or opened your account on or before 13/01/2018 and were sixty years of age or older at the time of opening the account, you are exempt from paying the quarterly account maintenance fee. Removal of the fee waiver feature will not impact you as you are still exempt from the quarterly account maintenance fee. Alternatively, if we previously received returned post from your address, we do not have up to date address details for you which means we could not send a letter to inform you of this change.
Please contact our dedicated team on 0818 600 217 or +353 1 655 0559 who will be happy to check this for you.
