You can invest in State Savings products without a chequebook.
You can invest in State Savings products without a chequebook.Had an appointment this morning and switched account to Explore Account. Main reason in the end and why i didn't switch to EBS Money Manager was I wanted to still have access for writing cheques. I need this if I'm moving funds into State Savings.
Or you can buy multiple certificate online within your limit.Yes sorry I should have been clearer - debit card has low limit's. Don't fancy carrying a few thousand in cash each time with me to post office. They don't have an online facility for example to let you transfer 10,000 euro or whatever to them from your bank.
That works in the case of BOI, where the debit card transaction limit is €25,000. It's impractical for medium/large amounts if using debit cards from AIB (€5,000 limit), PTSB (€2,500), EBS (€2,000), N26 (€5,000) or Revolut (€5,000)Or you can buy multiple certificate online within your limit.
Hi tomdublin, did you ever get a response from PTSB or Financial Ombudsman re:above?Dear..
thank you for getting back to me. I do not dispute that the charges for closing the account are stated in the T&C's. However, I am objecting to these charges based on the specific circumstances involved here.
As we discussed when I visited the branch, I wish to close the account because PTSB is unilaterally changing the T&C's to my disadvantage. They are now charging quarterly fees, whereas previously none were charged as long as my balance was above 2,500 Euro. This change makes the account no longer suitable for my needs. While PTSB is within its rights to change the T&C's, I am not prepared to accept the new terms and therefore want to end my business relationship with PTSB. However, PTSB is effectively refusing to let me close the account unless I pay 18 Euro as a fee to exit the business relationship. The fact that, as you state, PTSB does not refer to the fee as an account closure charge is irrelevant since that is precisely what it amounts to (unless I pay, I am unable to close the account).
To clarify, the payment PTSB are demanding does not pertain to any outstanding fees owed (as there are no outstanding fees and the account has consistently maintained a positive balance). Instead, it solely relates to my request to close the account. It is an exit charge in all but name.
Leaving aside legal considerations, PTSB's attempt to extract payment for the privilege of closing an account the terms of which the bank has unilaterally altered strikes me as ethically untenable. T&C's form a contractual whole. Your claim that de facto account closure fees are part of the T&C's which I accepted when opening the account is factually correct but it is neither here nor there as it is PTSB which is now changing the T&C's. Upon my refusal to accept the new T&C's our business relationship loses its contractual basis. The onus then is on PTSB to allow me to terminate that relationship quickly, easily, and without formal or de facto exit charges or other obstacles, as is standard practice across a vast range of industries.
The amount of money involved here is not significant, but it is an important issue of principle that is likely to affect many other customers who are trying to close their accounts with PTSB now that you have changed their T&C's.
Please consider this email a complaint as defined by the SPO. In line with FSPO guidelines, I kindly request that you respond within 14 days.
Please do not hesitate to contact me if you require further information.
Yes, their response was a complete insult - it pretended that I had objected to PTSB imposing quarterly fees, which isn't in any way related to what the complaint was all about. They either didn't read my letter or deliberately chose to obfuscate. Yesterday I went into the branch, told them I wanted to close the account, immediately transferred the entire balance to another bank and then left. The account has disappeared from the app so I guess it worked.tomdublin, did you ever get a response from PTSB or Financial Ombudsman re:above?
It literally says this on their website.So looks like €18 quarterly fee is charged monthly.
And with a flat €6 monthly fee for maintaining the account and no day-to-day transaction or contactless fees, you’re always in control of what you pay.
So open an EBS current account if you're concerned about charges?Thanks. Wasn't expecting monthly but its fine only costs me a euro a month having switched but no doubt they will come up with some way of getting more.
Not concerned. Just normally banks charge quarterly fees and I was just pointing out PTSB were monthly on explore.So open an EBS current account if you're concerned about charges?
Sounds like you are.Not concerned. Just normally banks charge quarterly fees and I was just pointing out PTSB were monthly on explore.
no doubt they will come up with some way of getting more.
I have just got my September cash earned credited and I can confirm that none off my top up's to Revolut have been given the 10 cent credit. Anyone else notice this? They are falsely advertising if this is the case.If I top up Revolut with my card using Google Pay I'm not getting my 10 cent. Anybody else experiencing this? Nothing in terms & conditions to say it's not a valid transaction.
False advertising? You're making a money transfer, not a purchase. Revolut even changed their merchant code a few years ago to make it clear it wasn't a purchase.They are falsely advertising if this is the case.
Exactly. You're not "paying", you're making a transfer, using your card."Every time you pay with your card in-store, online, with Apple Pay or Google Pay, you‘ll get 10c back." is what they say.
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