Avoid Bank fees with the New PTSB Current Account

Update – See latest figures on Current Account Fees Here

Over the past year or two , whilst  Ulster Bank have kept their currrent account free from daily transaction fees , all the other banks  have gradually been making it harder to avoid fees .
PTSB launched a new current account in April 2013 which will not charge any day to day transaction fees as long as customers lodge €1500 into the account each month. (It doesn’t matter if that €1500 is taken out the next day)
An added bonus is that they will pay 1% interest on balances upto €1500.

If you don’t lodge €1,500 every month, you’ll have to pay €12 fees a quarter regardless of how many transactions you do.

Many BOI and AIB customers will see quarterly account charges hitting balances this month – and will be looking for ways to avoid paying over  €100 a year in fees in some cases.
Ulster Bank are introducing a flat rate maintenance fee from July 1st of €4 a month . Ulster bank customers who lodge €3000 a month or who keep their balance over €3000 will avoid the fee.

See more here about Current Account Charges in Ireland and how to reduce them.

5 thoughts on “Avoid Bank fees with the New PTSB Current Account

  1. How long is this current account going to be free? Is there any point in changing the bank if PTSB is going to introduce ridiculous bank charges next year?

    • Juliane – it’s impossible to know – but they only introduced it recently so it should stay the same for at least a year. (But you can’t be sure of that)

  2. hi

    is the 1% interest rate better than on the existing switch current account, which is more longer offered?

  3. what about if I have 3000euro balance on ptsb account will I get more than 1%interest rate

    • Milan – PTSB will only pay 1% interest on the first €1500. anything over that amount gets zero interest.

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