The 2% Cashback Monthly Offer is available to qualifying applicants who receive their full mortgage Letter of Approval from PTSB on, or before 31 March 2025. This offer will become available to all existing home loan customers from 01 March 2025
The PTSB monthly mortgage cashback offer is available to you from 01 March 2025. If you meet the qualifying criteria, you will receive 2% cashback on your monthly PTSB mortgage repayments from that date until 31 December 2030.
Once you pay your monthly mortgage repayment by direct debit from an Explore Current Account during the month of March, you will receive 2% cashback on that repayment on the first working day of April.
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To get our monthly cashback offer you’ll need to open or switch to an Explore Current Account and pay your monthly PTSB mortgage repayment from this account. Your 2% cashback will then be credited directly into your Explore Current Account at the start of the month following your previous months' scheduled mortgage repayment.
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Monthly cashback will be paid on the first working day of the month directly into your Explore Current Account following your previous months' scheduled PTSB mortgage repayment from your Explore Account.
You can easily keep track of your cashback total through the Online Mortgage Portal, or through Open24 Online Banking. For example, on a monthly mortgage repayment of €1,500 you could get €30 back each month, that’s €360 per year.
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The monthly cashback offer is available to customers who receive their full mortgage Letter of Approval from PTSB on or before 31 March 2025.
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The cashback will be paid each month until 31 December 2030. If you finish paying off your PTSB mortgage before 31 December 2030 the cashback offer will end. If you close your Explore Account, or start paying your mortgage from another account type, the 2% cashback will also cease.
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You receive the cashback on all scheduled monthly PTSB mortgage repayments. This includes all the flexible mortgage repayment options, but you do not receive any cashback on lump sum payments.
If a flexible option on your mortgage is cancelled, the 2% cashback will be given on your new monthly repayment amount. See our Flexible Mortgage Repayment Options Brochure.
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Buy-to-let mortgage customers do not qualify for the 2% monthly cashback offer.
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Only regular, monthly, scheduled PTSB mortgage payments paid by direct debit from a PTSB Explore Current Account will qualify.
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Your existing account is a PTSB Current (TUSA) Account, PTSB Prestige HICA Account or PTSB Switch Current Account. With these current accounts, you are not charged a quarterly fee for account maintenance and there are no overdraft setup or renewal fees.
Other features of these accounts include a different charging schedule, additional fee exemptions and credit interest. You will lose these features permanently if you convert to Explore. However, your existing account does not earn cashback on your mortgage repayments. See Terms and Conditions.
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Once you receive your full mortgage Letter of Approval from PTSB on or before 31 March 2025, your mortgage qualifies for the cashback monthly offer. You can open or switch to an Explore Current Account when you apply for your mortgage, after approval, or after you draw down your mortgage. However, the 2% cashback monthly will only start being paid after you’ve opened or switched to an Explore Account and no cashback will be paid retrospectively.
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An €8 monthly fee for maintaining the account applies. However, there are no day-to-day transaction fees. 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. See our Personal and Business Banking Charges booklet for more details.
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eStatements are available with the Explore Current Account. Find out how to register for, view and download eStatements.
If you wish to request a paper statement you will need to call us on 0818 50 24 24 or +353 1 212 4101. Lines are open Monday to Friday, 9am to 5pm (excluding Bank Holidays), and Saturday to Sunday, 10am to 2pm.
Please note paper statements are viewed as a duplicate statement and have a charge of €2.50 per page, capped at €20 per individual account request.
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Download the PTSB App to open a single Explore Current Account. Ensure you have photo ID and a proof of address to upload as part of the application process on the PTSB App. See our step-by-step app set up guide.
Alternatively, book an appointment in branch to open the account. Make sure to bring your photo ID and proof of address with you. More information on required documents.
If you are looking to open a joint Explore Current Account, the only available option is to follow the steps above to book an appointment in branch.
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If you are looking to open a Joint Explore Current Account, you can do so by booking an in branch appointment or by calling us on on 0818 50 24 24 or +353 1 212 4101. Lines are open Monday to Friday, 9am to 5pm (excluding Bank Holidays), and Saturday to Sunday, 10am to 2pm.
When you visit a branch, please bring photo ID and proof of address with you. More information on required documents.
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You do not need to open a Joint Explore Current Account if you have a joint PTSB mortgage and can choose to open one as a sole customer and still avail of the offer if the PTSB mortgage is paid by direct debit from that new Explore Account.
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Inactive Explore Account customers cannot complete a new Mortgage Direct Debit Mandate until the Explore Account is active. To reactivate your Explore Account you will need to book an appointment in one of our branches. Find out more information on our Current Account.
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No, you do not need to open a new Explore Account. If you have an existing Explore Account, you need to complete a Mortgage Direct Debit Mandate Form and pay your monthly PTSB mortgage payments by direct debit through your Explore Account to receive the 2% cashback offer.
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For PTSB customers: You can fill out our Mortgage Direct Debit Mandate Form online.
Please note: If you are a former Ulster Bank customer, a different Mortgage Direct Debit Mandate Form will apply to you. I am a former Ulster Bank customer.
To register for Open24 Online Banking:
Learn more about registering and logging into Open24 Online Banking.
Monthly cashback is calculated as 2% of your monthly scheduled PTSB mortgage repayment. So, if your monthly mortgage repayment is €1,000, you’ll receive €20 cashback a month.
It will be paid on the first working day of the month directly into your Explore Account, after your previous months’ scheduled mortgage repayment has been made from your Explore Account by direct debit. For example, if your mortgage repayment is on 15 May, you will receive the 2% monthly mortgage cashback for that payment on the first working day of June.
If insurance is included as part of your monthly mortgage payment i.e., you have a block insurance policy, you won’t receive cashback on this portion of your payment.
There’s no limit to the 2% monthly cashback offer. PTSB will pay 2% of your entire monthly PTSB mortgage repayment (capital and interest) once you meet the qualifying criteria of the offer, such as paying your mortgage by direct debit from an Explore Current Account.
If insurance is included as part of your monthly mortgage payment i.e., you have a block insurance policy, you won’t receive cashback on this portion of your payment.
2% cashback will be paid directly into your Explore Account at the start of each month. You can choose to spend it straight away or let it build up over the course of a year or longer.
If you miss a regular mortgage repayment, then no cashback will be paid for that month. If you are having difficulties making your loan repayments, or think you may have difficulties in the future, we're here to help.
Where the payment date is changed it’s only the successful payment that gets the 2% cashback applied to it. If there is no payment in a given month, no cashback will apply. If there are two successful payments in a given month then both amounts will qualify and will be paid as one cashback amount.
For block payments, where you pay your mortgage, insurance and life assurance as one payment, only the mortgage portion of your payment qualifies for 2% cashback.
Your 2% monthly cashback will end if you stop making monthly repayments by direct debit from your Explore Current Account.
As you already meet the qualifying criteria by paying your mortgage by direct debit from your Explore Account, you will receive 2% cashback on your monthly PTSB mortgage repayments from 01 March 2025.
Monthly cashback is calculated as 2% of your scheduled monthly mortgage repayment. It will be paid on the first working day of the month directly into your Explore Account, after your previous months’ scheduled mortgage repayment has been made from your Explore Account by direct debit.
No, you must pay your monthly, scheduled PTSB mortgage repayments in full from one PTSB Explore Current Account, through direct debit.
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The 2% monthly cashback applies to your regular scheduled mortgage repayments. This includes all of the Flexible Mortgage Repayment Options except for the Lump Sum payment. Once a flexible option is cancelled and your payments revert to your normal repayment amount, the monthly cashback will revert to the normal amount also.
Where you have built up credit on your account and apply to under-pay for a number of months, the agreed amount will still qualify for the 2% monthly cashback. For e.g. if you usually pay €1,500 but use the underpayment to pay €1,200, the 2% will be calculated on the €1,200, meaning the cashback will reduce from €30 to €24 for the duration of the agreed underpayment.
Where you apply for an annual Skip Month payment holiday, your 12 monthly repayments are divided over 11 months instead of 12. If your monthly repayment is usually €1,500 and you skip 1 month your repayments will go up to €1,636.36, and the 2% monthly cashback will be calculated on that amount (€32.72 per month instead of €30 per month).
Where you want to build up credit on your account and apply to over-pay for a number of months, the agreed amount will still qualify for the 2% monthly cashback. For e.g. if you usually pay €1,500 but use the overpayments to pay €1,800, the 2% will be calculated on the €1,800, meaning the cashback will increase from €30 to €36 per month for the duration of the agreed overpayment.
Taking a Payment Holiday allows you to reduce your repayments by the full amount or partially by a selected amount. Where any amount is paid, the 2% monthly cashback will be paid on that amount. If you usually pay €1,500 but reduce this to €50 using the Payment Holiday/Moratorium Flexible Repayment Option, your 2% monthly cashback will be calculated on the €50 (€1).
Yes, you need to pay your monthly scheduled PTSB mortgage repayments from a PTSB Explore Current Account by direct debit to avail of the 2% monthly cashback offer.
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If you already have a different PTSB Current Account type, you have two options:
The 2% monthly cashback offer is applied to monthly scheduled PTSB mortgage repayments made by direct debit from an Explore Current Account. You have two options to avail of the monthly cashback:
The 2% monthly cashback offer is applied to monthly scheduled PTSB mortgage repayments made by direct debit from an Explore Current Account. If you pay your direct debit from another account type and then switch to an Explore Account later in the same calendar month, you will not receive the 2% cashback that month.
The 2% cashback offer will apply from the following month and will be paid into your Explore Account. If you hold a different PTSB Current Account and you switch to an Explore Account, you will lose the features and benefits available on your existing account type.
These include but are not limited to charging structure, fee exemptions, credit interest etc. (as applicable) and you will not be able to change back to your original account type at any point in the future.
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If you currently have a PTSB Switch current account type with PTSB and you convert it to a PTSB Explore Current Account, you will lose all features and benefits available on your existing account type.
These include but are not limited to charging structure, fee exemptions, credit interest etc. (as applicable) and you will not be able to change back to your original account type at any point in the future. With the Explore Account, a flat €8 monthly account maintenance fee will apply, with no day-to-day transaction or contactless fees.
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If you hold a different current account type with PTSB and you convert it to a PTSB Explore Current Account, you will lose all features and benefits available on your existing account type.
These include but are not limited to charging structure, fee exemptions, credit interest etc. (as applicable) and you will not be able to change back to your original account type at any point in the future. With the Explore Account, a flat €8 monthly account maintenance fee will apply, with no day-to-day transaction or contactless fees.
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If you switch your existing PTSB Current Account to an Explore Account, there is no change to your existing account details, Visa Debit Card number or Direct Debits.
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If you have drawdown your mortgage with us before 2017, the PTSB monthly mortgage cashback offer is available to you from 01 March 2025. If you meet the qualifying criteria, you will receive 2% cashback on your monthly PTSB mortgage repayments from that date until 31 December 2030.
Once you pay your monthly mortgage repayment by direct debit from an Explore Current Account during the month of October, you will receive 2% cashback on that repayment on the first working day of November.
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We are sending letters to customers on a phased basis. If you don't receive a letter from us about the Monthly Mortgage Cashback Offer by 07 March 2025, please contact us 0818 50 24 24 or +353 1 212 4101. Lines are open Monday to Friday, 9am to 5pm (excluding Bank Holidays), and Saturday to Sunday, 10am to 2pm.
It's also possible that we don't have the required marketing permissions for you meaning we can't directly contact you with a letter in relation to the 2% Monthly Cashback Offer becoming available.
If you would like to update your marketing permissions or any other customer details, please contact 0818 50 24 24 or +353 1 212 4101. Lines are open Monday to Friday, 9am to 5pm (excluding Bank Holidays), and Saturday to Sunday, 10am to 2pm.
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No, there will be no changes to your original PTSB mortgage agreement if you avail of the Monthly Mortgage Cashback Offer.
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You do not need to take any action if you do not want to avail of the Monthly Mortgage Cashback Offer.
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We will send you a letter in the post to confirm your new direct debit. It may take up to 8 business days to amend your account repayment details once a new Direct Debit Mandate is submitted to PTSB.
Once this is complete before your payment date in March, you can expect to see your cashback amount received on Open24 Online Banking from April.
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If you are a former Ulster Bank Mortgage customer and your Mortgage account has transferred to PTSB, the Monthly Mortgage Cashback Offer is available to you from 01 March 2025. If you meet the qualifying criteria, you will receive 2% cashback on your monthly PTSB mortgage repayments from that date until 31 December 2030. Once you pay your monthly mortgage repayment by direct debit from an Explore Current Account during the month of February, you will receive 2% cashback on that repayment on the first working day of March.
You receive the cashback on all scheduled monthly PTSB mortgage repayments. This includes all the flexible mortgage repayment options, but you do not receive any cashback on lump sum payments. If a flexible option on your mortgage is cancelled, the 2% cashback will be given on your new monthly repayment amount. The cashback offer is not available if your mortgage is a buy-to-let loan.
You do not receive cashback on lump sum overpayment. Other flexible payment options e.g., over payments or under payments do qualify but must be agreed by both parties in advance to be eligible for the offer. See our Flexible Mortgage Repayment Options Brochure for more information.
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If you are a former Ulster Bank customer, please refer to this online Mortgage Direct Debit Mandate Form.
