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Payments and Transfers FAQs

We want to make your payment process as seamless as possible. Here’s a simple guide to understanding key payment terms and addressing common questions.

 

 

Why is the Payment Form not accepting the IBAN I’ve entered?

If the IBAN is not being accepted, consider the following:

  • Ensure accuracy: Double-check that the IBAN is entered without spaces or special characters.
  • Correct Country Selected: Confirm that the country selected matches the country of the account receiving the payment.
  • IBAN Compatibility: Verify that the receiving country supports IBANs for SWIFT Payments. Some countries may not use IBANs in their payment systems.

If the country does not accept IBAN’s, you will need to provide:

  • The account number.
  • The recipients SWIFT/BIC code.
  • An intermediary BIC if required for the payment journey.

For further assistance, contact the receiving bank, or one of our branch advisors who will be happy to guide you through the process.

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What payment method should I select?

The payment form is designed to default to the most appropriate payment method based on the details you’ve provided. We advise avoid changing the default selection unless you specifically need the payment to be sent through a particular network.

If you are unsure, its best to use the default payment type. If you have specific requirements or are unsure about the options, contact our team for guidance.

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I was in a branch today, but the payment hasn’t left my account. Why?

All payments initiated in branch will be processed by close of business on the same day. If you have concerns, please contact our customer support team for further assistance.

If there is any issue with processing your payment, our Payments Central team will contact you directly to advise.

What details do I need for payments to Australia?

For payments to Australia, you’ll need to provide the following:

  • BSB (Bank-State-Branch) code: A six-digit number that identifies the recipients bank and branch.
  • Account number: Ensure this is entered correctly with no spaces.

Enter the BSB (Bank State Branch) number which consists of 6 digits before the account number in the "account number" field.

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What details do I need for payments to the United States?

For payments to the United States, you’ll need to provide the following:

  • Routing Number or ABA Number: A nine-digit code to identify the receiving bank.
  • Account number: Ensure this is entered correctly with no spaces.
  • SWIFT/BIC Code: If applicable for international transfers.

For payment in US Dollar: Enter the account number in the "account number" field and the "routing number" which consists of 9 digits in the "routing number" field.

For Payments to the US in euro: Enter the account number in the "account number" field and the beneficiary BIC (Swift Code) in the "BIC" field.

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What details do I need for payments to Canada?

For payments to Canada, you’ll need to provide the following:

  • Routing Number or ABA Number: A nine-digit code to identify the receiving bank.
  • Account number: Ensure this is entered correctly with no spaces.
  • SWIFT/BIC Code: If applicable for international transfers.

The correct format is the transit number (consisting of 5 digits) followed by the institution number of 3 digits, then the account number. Enter this full sequence in the "account number" field.

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Why can’t I process from an Online Account (990660)?

Requests related to Online Accounts are handled by our Deposit Services team.

To complete a request, you’ll need to submit in writing with a handwritten (wet ink) signature and the date. Once completed please send it to:

Deposit Services,
56-59 St. Stephens Green,
Dublin 2

Alternatively, you can transfer the funds from your Online Account to your Current Account and make the payment directly from there.

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When do I need to provide an intermediary Bank Identifier Code (BIC)?

If you’re transferring money to an international bank account, you may need an intermediary Bank Identifier Code (BIC). This is typically required when the receiving bank isn’t directly connected to the global banking network, so an intermediary is used to process the transaction.


At ptsb, we’ll let you know if an intermediary BIC is needed during the transfer process. You can usually get this code from the person or business you’re sending money to, or their bank. If you’re unsure, our team is here to help. Simply ask one of our branch advisors, and we’ll guide you through the process to ensure your payment goes through smoothly.

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Payments Jargon Buster

SEPA

A payment method used for sending money electronically between European Bank accounts in euro. Commonly used for domestic and cross-border transactions within the Eurozone.

SWIFT

A secure international money transfer system used for cross-border transactions. Commonly used for sending euro transactions outside the EAA and all foreign currency payments.

IBAN (International Bank Account Number)

A unique account identified used for international and domestic payments. It includes your country code, bank code, and account number.

SWIFT/BIC Code

A unique identifier for banks globally, required for international transfers.

Cross Border Payment

A payment method to send money electronically between European Bank accounts, commonly used for domestic and cross-border transactions within the Eurozone.

European Economic Area (EEA)

Any member state of the European Union, for the time being, and or any other country to which Regulation (EC) No. 2560/2001 applies.

Routing Number

A numerical code specific to banks in the United States, used to identify where an account was opened.

ABA Number

A unique, nine-digit code assigned to financial institutions in the United States by the American Bankers Associated. This is used for direct deposits and electronic transfers.

Fedwire Number

A unique identifier used by United States financial institutions for wire transfers. It’s part of the Federal Reserve’s payment system and is often required for urgent transactions.

Debiting Account/Sending Bank 

The account where the funds are being transferred from.

Destination Account Name

Name of the recipient who the funds are being transferred to.

Beneficiary

The person or account receiving the payment.

Beneficiary Account/IBAN 

The receiving bank account details.

Intermediary Bank

A financial institution that facilitates transactions between two other banks, typically for the purpose of transferring funds internationally.

Intermediary Bank Details

Refers to the specific information for the intermediary bank that are provided for facilitating international transfers, including:

  • Bank’s name
  • Address
  • Account number/IBAN
  • Routing number
  • BIC/SWIFT code

Intermediary BIC Code

Also known as a Bank Identifier Code, is a unique address for banks when they communicate during international transactions.

Bank Sort Code/BSC

A numerical code used to identify specific banks and branches used to ensure that funds are directed to the correct bank and branch when it comes to domestic or international transfers.

Payment Reference Number

Reference number generated on completion of the PTSB Payment Form.

Transit Number

Canadian version of a Bank Sort Code usually consists of 5 digits.

BSB Number

Australian version of a Bank Sort Code usually consists of 6 digits.

Cut-Off Time

The latest time a payment instruction can be received to be processed on the same day.

Institution Number

A unique three-digit number assigned to a specific bank or financial institution in Canada.

 

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