Traditional Banks
PTSB
Permanent TSB (PTSB) has a banking history that goes back over 200 years, making it one of Ireland’s longest serving financial institutions. Today, it is the third largest bank in Ireland with over 1.3M personal banking customers, 98 physical branches and a valuation of around €1.7 billion. The Irish State still owns 57% of PTSB and, in late 2025, it was announced that PTSB had commenced a Formal Sale Process (FSP) to identify a new owner for the bank.
Reading time: 12 min
Last updated: March 31, 2026
Table of Contents:
Written by:
Dan Malone
At a Glance:
Best traditional current account for cashback.
Emergency cash feature available.
Currently up for sale which may lead to a digital-first future for the bank.
Is PTSB Safe for Irish Customers in 2026?
PTSB is a fully regulated Irish bank making it perfectly safe for use. The bank is authorised by the Central Bank of Ireland. The bank manages over €25 billion worth of deposits for its personal and business banking customers. Deposits are protected up to €100,000 per depositor under the Irish Deposit Guarantee Scheme.
How Secure Is PTSB?
| Security Feature | Available on Bank of Ireland? |
|---|---|
| Two-Factor Authentication (2FA) | Yes |
| Biometric Login | Yes |
| Freeze Card | Yes |
| Personal Access Number (PAN) | Yes |
| Quick Balance | Yes |
| PTSB Protect | Yes |
| Block Gambling Transactions | Yes |
| Auto Logout | Yes |
| Verification of Payee (VoP) | Yes |
The first device that you use to log into the PTSB app becomes your registered device. When making online purchases, you will receive a push notification on your registered device to authenticate the transaction by entering 3 digits from your 6 digit Personal Access Number (PAN). This will also be required where you’re viewing transactions over 90 days or viewing e-statements.
If you’re not using the PTSB app, you can authenticate transactions by entering 3 digits from your 6 digit PAN and confirming a one-time passcode that’s sent to your registered mobile number.
To enable biometric login (i.e. Face ID), quick balance and PTSB Protect, go to the ‘Settings and Security’ tab in the left hand navigation menu of the PTSB app. You can freeze your card, view card PIN and block gambling transactions among other options via the ‘Cards’ tab in-app.
Customer Support
PTSB phone support is available from Monday to Friday (excluding public holidays) from 9am-5pm and from Saturday to Sunday from 10am-2pm. In addition, the PTSB social media team is available Monday to Friday (excluding public holidays) from 8am-8pm and from Saturday to Sunday from 10am-5pm.
Lost or stolen cards as well as fraudulent or suspected fraudulent activity can be reported 24 hours a day, 7 days a week. PTSB also offers in-app AI chat support where you can quickly get answers to your questions. If you wish to speak with a real person via the chat, simply select ‘Other Services’, ‘Additional Support’ and then ‘Yes’. The chat support team is available from Monday to Friday (excluding public holidays) from 8am-7pm and Saturday from 10am-2pm. AI chat support is available 24/7.
How To Open A PTSB Account (Est. Time: 1-2 Weeks)
To open a PTSB current account (i.e. a PTSB Explore Account), download the PTSB app from the App Store. From here, you can submit a current account application by providing basic information as well as verifying your identity and address. To do this you will need:
Proof of Identity: A valid passport, passport card or driving license that’s in date within 30 calendar days.
Proof of Address: A utility bill, bank statement or correspondence from a Government Department issued within the last 5 months or an official Revenue document, original insurance document or correspondence from a regulated pension provider issued within the last 11 months. Your proof must have your full name and address on it.
- The following documents are not accepted by PTSB: Revenue PIN reminder letters, neobank statements (Revolut, Bunq etc.), mobile phone bills, receipts, invoices, motor tax correspondence and TV licence.
Proof of Personal Public Service Number (PPSN): A P60, P45, P21, payslip including employer’s name or tax number, drug payment scheme card, european health insurance card, tax assessment, tax return form, PAYE notice of tax credits, child benefit award letter or pension book. Required for credit applications of €500 or larger.
- A Public Services Card is not accepted by PTSB.
After you’ve opened your current account, your debit card will be sent to you via post within 5-7 working days and your PIN within 3-4 working days. You can’t set up online banking with PTSB without your debit card, which is why it can take a week or longer to fully set the account up. Once you receive your debit card, you then need to call PTSB to register for Open24 Online Banking. Your debit card will have your Open24 number listed on it, which you’ll need to give to PTSB over the phone to confirm your identity.
PTSB will then provide you with a temporary password which you’ll use, along with your Open24 number, to log into Open24 for the first time. Then, you’ll need to set up a secure six digit Personal Access Number (PAN) which you’ll need to access your account.
PTSB Current Account Fees
| Fee | Description |
|---|---|
| Monthly Fee | €8.00 per month |
| ATM Withdrawal Fee | None |
| Foreign Exchange Fees | 1.75% of euro value (€0.46 minimum, €11.43 maximum) |
| Non-Euro ATM Withdrawal Fee | 3.50% of euro value (€3.17 minimum, €11.43 maximum) |
| SEPA Bank Transfer Fee | None |
| Non-Euro/SEK Bank Transfer Fee | €31.50 plus foreign exchange margin |
| Cash & Cheque Lodgement Fee | None |
| Non-Cash Lodgement Fee | None |
| Debit Card Transaction Fee | None |
| Direct Debit Fee | None |
| Standing Order Fee | None |
| Automated Direct & Credit Transaction Fee | None |
| Contactless Transaction Fee | None |
| Staff Assisted Transaction Fee | None |
| Unpaid Direct Debit, Standing Order & Cheque Fee | €10 per failed transaction |
PTSB Current Account Features
| Feature | Available on PTSB? |
|---|---|
| SEPA Instant Transfers | Yes |
| Direct Debits | Yes |
| Standing Orders | Yes |
| Apple Pay/Google Pay | Yes |
| Cashback on Spending | Yes |
| Emergency Cash | Yes |
| Branch & ATM Locator | Yes |
SEPA Instant Credit Transfer
PTSB now facilitates SEPA Instant Credit Transfer which allows you to send money to another bank account in ten seconds. SEPA Instant works 24/7 365 days a year and comes at no additional cost to you. To transfer using SEPA Instant, on the ‘Transfer’ tab, click ‘Make a Payment’ and ‘Add a Payee’. Once the payee has been added, enter the transfer amount and payment date, which can be today or in the future. Then, click ‘Continue’.
When confirming the payment details, you’ll see a heading for ‘Payment Method’. Make sure this is set to SEPA Instant Credit Transfer. If it isn’t, click ‘Switch’. There is no reason to use a regular SEPA Credit Transfer unless SEPA Instant Credit Transfer isn’t accepted by the receiving bank account. This may be the case where you’re transferring money to a non-payment account such as a mortgage, loan or savings account.
Cashback
When you use your PTSB card in-store, online or with Apple Pay or Google Pay, you’ll get 5c back on your spending. This applies up to a maximum of €5 cashback each month (i.e. 100 card transactions per month).
PTSB has partnerships with Sky, SSE Airtricity and Circle K. When you pay for your bills with these partners by direct debit from your PTSB Explore Current Account, you’ll receive cashback and discounts. These include:
Sky: Up to 5% cashback on Sky TV, Sky Broadband and Sky Glass bills. Sky Mobile bills are not included.
SSE Airtricity: Up to 2% cashback on energy bills.
Circle K Fuel Card: 4c off per litre when you register for a Circle K Fuel Card with the unique code from your PTSB Explore Account Welcome Pack.
You’ll receive 2% cashback on monthly PTSB mortgage repayments until 31st December 2030 when you pay your mortgage by direct debit from your Explore Account. The mortgage must be a PTSB mortgage. Cashback is not available on lump sum payments, arrears payments, missed payments or returned payments. Equally, cashback is not available on the value of any insurance premiums bundled into your mortgage payment.
Each of these cashback offers can be used in conjunction with one another. For example:
| Activity | Cashback/Discount Offer | Monthly Cashback |
|---|---|---|
| 30 monthly card transactions | 5c per transaction | €1.50 |
| €65 monthly Sky bill | 5% | €3.25 |
| €150 monthly SSE Airtricity bill | 2% | €3.00 |
| €50 weekly Circle K petrol | 4c off per litre | €4.71 |
| €1,400 monthly PTSB mortgage | 2% | €28.00 |
| Total Cashback | €40.46 | |
This can allow certain PTSB customers to cover the cost of their monthly fee with cashback alone. PTSB has a calculator on their website which you can use to estimate your cashback. The true value of these savings depends on how competitive the providers in PTSB’s network are compared to other utility, fuel, and mortgage options. In other words, the cashback you save could easily be wiped out by paying a higher base price than what you would have paid with a more competitive provider.
Key Insight: PTSB’s cashback offer shouldn’t be confused with physically receiving cash back from a merchant as part of a debit card transaction. This is also referred to as ‘cashback’. Cashback transactions are limited to €100 per card transaction, up to a maximum of €300 back within 24 hours.
Emergency Cash
In the event that you or someone you know needs access to cash without an ATM card, you can get Emergency Cash from PTSB. In the PTSB app, tap ‘Emergency Cash’ on the left menu. Then choose ‘Send Emergency Cash to an ATM’. Select the payment account (your current account). Then choose the mobile number and network of the person collecting the funds (you or someone else).
PTSB will send a one-time code to this number. It will include details on how to withdraw emergency cash from any PTSB ATM without a debit card. Once you’ve entered the mobile details, you can decide whether you want to send €20, €50, or €100 worth of emergency cash. The withdrawal must be made within 2 hours of receiving the code.
If the withdrawal is made, there will be a €2 fee for availing of this feature. You need to have enough money in your account to cover both the withdrawal and the fee. No fee will be charged if the money isn’t withdrawn. Emergency Cash can be used once per day, but a maximum of two times in any 31-day period. You can see all your open, collected, expired, or cancelled emergency cash transactions from the past 6 months in the app.
Branch and ATM Locator
When in the PTSB app, click ‘Tools and Calculators’ in the left hand navigation menu and then ‘Branch/ATM Locator’. This will allow you to find your nearest PTSB branch/ATM, along with directions, contact details and opening hours. The app will also tell you whether it is an automated branch (i.e. no cash desk) or a full-service branch. If it’s the former, the app will advise you where the closest full-service branch is.
FX Margin Calculator
When in the PTSB app, click ‘Tools and Calculators’ in the left hand navigation menu and then ‘FX Margin Calculator’. This will allow you to visualise the total currency conversion charges for using your PTSB debit card or credit card to pay for a transaction in a foreign currency. It will also allow you to see the cost of withdrawing Euros outside the EU and the cost of non-Euro withdrawals.
Products and Services Centre
You can use the PTSB app to navigate to a number of different PTSB product applications including personal loans, mortgages, credit cards, overdraft facilities, home insurance and savings accounts. In the PTSB app, simply click ‘Products and Services’ in the left hand navigation menu or the ‘Apply’ tab to access these.
Savings
Once you’re a PTSB customer, you can open an Online Regular Saver Account within the PTSB app. In the left-hand navigation menu, click ‘Products and Services’, ‘Savings Accounts’ and then ‘Online Regular Saver Account’. The variable AER on this account is 2.00%, but you can only deposit a maximum of €1,000 per month. If the balance in the account exceeds €50,000, a variable AER of 0.01% will apply to the entire balance. You may only have one Online Regular Saver Account. Check out our Savings Comparison Tool to find and compare the best instant access and fixed term savings accounts.
Frequently Asked Questions
Give the merchant (i.e. utility provider) your bank details (i.e. IBAN, BIC etc.) and they will send the request to PTSB for you. The direct debit will then appear in your PTSB app. It can be cancelled up until the end of the business day prior to the payment date.
Go to the ‘Transfer’ tab, click ‘Standing Orders’ and then ‘Add Standing Order’. You can then select the payee and set the amount, frequency and date of first payment. Standing orders must be cancelled or amended no later than 4 business days before their due date, if required.
Upcoming payments can be viewed and managed in the PTSB app by going to the ‘Transfer’ tab and clicking ‘Upcoming Payments’.
Yes, you can open a joint account with PTSB. A joint digital current account is only available to new PTSB customers. If you or your partner is an existing PTSB customer, you’ll need to book an appointment in a PTSB branch to open a joint account.
Yes, PTSB offers a student account to anyone 18 years of age or over and in full-time education for a maximum period of 5 years. There is no monthly fee for the PTSB student account, but the other current account fees will apply.
PTSB allows you to withdraw up to €700 from ATMs each day. A further daily withdrawal of €1,500 is permitted from PTSB’s self-service machines in-branch, bringing the total allowable withdrawal to €2,200.
You can spend up to €2,500 in a day with your PTSB debit card. You can pay for transactions up to €50 using a contactless card. This doesn’t apply to transactions using Apple Pay or Google Pay.
You can transfer up to €10,000 to other bank accounts each day through the PTSB app or through Open24 online banking. This includes standing orders. Transfers over €10,000 (or to non-EEA accounts) can only be made by filling out PTSB’s online payment form and attending a physical branch to verify your identity and complete the transfer.
You can transfer up to €100,000 per day between your PTSB accounts.
No, there is no limit to direct debit payments. These payments do not eat into any of your other limits either.
Yes, you can make bill payments up to €5,000 per day (€25,000 with PTSB Credit Card bill payments) and future dated payments up to €2,000 per day.
No, you can’t increase the spending and transfer limits on PTSB beyond their stated maximum.
Yes, you can set spending limits for online card payments, but this can only be done by contacting PTSB over the phone.
