Permanent TSB overdraft

[deviant]

Hi there

I'm in the process of switching current accounts over to PTSB from AIB. I had the option of applying for an overdraft which I did, for €1500 as it would be handy from time to time. My account details arrived in the post today, and I've successfully set up my online banking, but I tested to see if I had an overdraft facility by trying to top up my phone online with a balance of €0, and it said "insufficient funds", so I'm wondering, how/when I'll know if my overdraft application was successful or not?

I have a credit card and a couple of small-medium loans totalling 5K and my base salary is in the 50-55K range, so I'm hopeful they'll give it to me but you never know with banks nowadays and I'd love to know how other people got on.

Thanks

 

[so-crates]

Deviant, I doubt it is wise to get such a large overdraft. The interest rates even on permitted overdrafts are not low (and there is usually an annual charge for the privilege) so it should really only be a fallback emergency position, why would you need such a large fallback? If you are planning on living on the presumption of dipping into your overdraft regularly then you are possibly living outside of your means.

 

[WizardDr]

A large overdraft is €1500?

I think that as banks have started acting in concert bouncing everything when you don't have available funds, some here might say this is exactly the system we need.

I think the letters people have shown me from Ulster, PTSB, BoI and AIB are now such that the UK style regime is here and they are acting under what might be termed orders that disregard the alleged personal KYC relationship.

Yet we have this incredible 5 day plus clearing cycle from Queen Victoria.

We have no issue with money lenders.

Is anybody concerned with these militaristic actions?

 

[so-crates]

With a salary of €50k - €55k must be at least 50% of current monthly take home. I would count that as large but maybe that is my being conservative.