How long does PTSB Cashback take?

M

Mortgage2023

Registered User
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I note that Permanent TSB seem to state the cashback on draw down I will be getting with my mortgage is to be paid "within 40 days".

Is this just a guideline, should I expect to receive it a bit quicker or will I be waiting the full 40 days?

Presuming I will get it when the first mortgage payment is actually made?
 
Mortgage2023 said:
Is this just a guideline, should I expect to receive it a bit quicker or will I be waiting the full 40 days?
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40 days is a maximum. It would have been originally based on them doing a payment run once per month, so everyone drawing down in a month all got paid the same day. I'm not sure if they process them more frequently than that.
 
My solicitor received my mortgage funds yesterday April 24th.

Does anyone know what date their payment run may be?
 
isame as @Mam1996 - a day or two after my first repayment
 
@Mortgage2023 - I am in the same position waiting on PTSB cashback, drawdown was only 17th May so I am not expecting it until some time after 1st payment on 17th June. But just wondering did you receive your cashback yet?
 
SoandSo said:
@Mortgage2023 - I am in the same position waiting on PTSB cashback, drawdown was only 17th May so I am not expecting it until some time after 1st payment on 17th June. But just wondering did you receive your cashback yet?
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Hi,

My drawdown was 24th April.

I made my 1st mortgage payment today.

No sign of the cash back at drawdown or monthly cash back as of yet.
 
Day 36 and still nothing. No sign of the monthly cash back either. If I don't hear anything by 1st June I will give them a call. That should be 38 days.
 
Be patient, it will come. Also, you can check what is due on the monthly cashback. I'm assuming you had to open an Explore account like me.
Log on to your PTSB online banking on a desktop (this info is not available on the mobile app), click on the Explore account, then on the top right of the screen click on "View cashback rewards" - You should see what cashback is due here listed as "Spend & Save due - Mortgage Payment".
They told me this wont be paid until the start of the next month.
 
No not yet. I rang PTSB yesterday and he confirmed it is 40 working days. He checked and said I should get it the week starting 19th June.
 
I just got my cashback but they lodged it twice, I’ll ring them tomorrow to sort it out.
 
CPM_81 said:
Could you not have kept it like in Monopoly?
"Bank error in your favour"
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Unfortunately not . They had no idea how it happened when I rang them and I was passed on to a few different people in the mortgage dept to sort it out. In the end they advised they would ring me back, they didn't but the money was taken back out of my account that day with an error reference.
 
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