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SOME PERMANENT TSB customers have seen their quarterly charges increase from €3.18 to €18.
The whopping 466% rise will increase their annual maintenance fee from €12.72 to €72.
The bank, which is 75% owned by the State, says the increase only applies to ‘certain legacy accounts’ that would have been opened 10 to 15 years ago and that are no longer available to new customers.
When asked exactly how many customers are affected by the hike, a spokesperson for Permanent TSB told TheJournal.ie, “We haven’t given a figure.”
They added that the rise “typically brings these charges into line with similar products from other banks”.
In a statement Permanent TSB said, “The review only impacts older “legacy” current accounts which have not changed for many years.
The changes differ by account and there are no routine transaction charges so the impact for individual customers will vary and may be minimal for many.
The bank also stated that depending on the account, some customers may be able to take steps to reduce or eliminate the charges.
Examples given include maintaining a current account balance, using the online banking facilities for a certain number of transactions each quarter and/or lodging a certain amount into the account each month. It also added that customers over the age of 60 can apply to have the charges waived.
Permanent TSB added that the fees and charges have been approved by the Central Bank and are in line with similar accounts offered by competitors.
The bank made the changes to these old accounts after launching the Explore Account last year, it’s now the only current account which can be opened with Permanent TSB.
Customers using the Explore Account are charged €4 every month, but this can be offset by the fact that the bank will pay back 10c on every debit card transaction.
The debit card refund is capped at €5 a month – but this means it’s still possible for a customer to earn €12 over the course of a year.
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Well done all.
Maybe think about employing a proof reader as well?
@Shakka1244: I’d say your life is very invigoratinf
Well done – TheJournal is the first place I go for news – but agree with the other comment, proof reading is needed e.g. – ‘Trump had hinted previously hinted that he had tapes of a private conversation with FBI director James Comey.’….. but then he probably hinted twice anyway! Congratulations
congratulations
Congrats Orla! Definitely my favourite journalist
Matty it is me she is smiling at in her profile photo so forget about it buddy!
@Matty Killucan: such a lick arse! You were giving out about the journal winning the awards a few hours ago ..
@Suzie Sunshine: I was not! Cheek of you missus!
@Matty Killucan: Does ” the only thing you’ve got going for yourselves is the comments “… ring a bell ? But of course it’s different because it’s an award for Orla ! Lol
@Suzie Sunshine: The only bells I hear are wedding bells Suzie :-)
@Matty Killucan: nah that’s just the bells ringing in your head :)
@Suzie Sunshine: Actually, turns out it was my doorbell, I ordered an Indian… his name is Ranjeev Kumar. We’re going to be very happy together.
Oh get over it Grammar Nazis – Well Done Journal, keep up the great work!
@Shane McGivern: It’s supposedly a professional organisation, yet spelling isn’t important? Really? -_-
Congratulations to them. Well earned!
Congratulations. Keep telling the truth. I enjoy your 42.ie Friday columns.
The fact checking articles is journalism at its best. Top class and rigorous.
Nice. Well done guys!
Civil disobedience and the right to protest
The vindication of Justice and Democracy between elections
Judicial Independence in Reality
The Selection and Appointment Process for Senior Judges
Making Power and Authority Legally Accountable
Interesting topics. No prizes will be ever awarded for articles on such challenging topics.
Congratulations. You proved me correct when almost every commenter disagreed in a point I had made on many occasions over the years. If we only had the red thumbs back we could see how many and who they were.
@Shawn Rahoon: you were right all along and now you are fully vindicated.
Well done journal.ie you are definitely my go to source of on line news.
Bit of a lack of racial diversity in that photo??
Good stuff Journal staff, its the only news forum I enjoy & read daily.
Congratulations lads! Keep up the good work.
Well done guys…congratulations
Well done, a victory very well deserved.
Never mind the grammar Nazis.
Excellent and well deserved. Journal are top notch
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