Currently the Explore Account carries a monthly fee for maintaining the account of €4, effective from the 1 August 2019 this fee will increase to €6 per month. Currently this account does not charge automated or non-automated transactions, this will not change.
Please note that if any customer on the account was over 60 years of age before 13/01/2018, or over 66 years of age as of 13/01/2018 the account will remain exempt from the monthly maintaining the account fee.
Explore has three great ways of providing cash back. There will be no change to the cashback features on the account. For more information please see our Explore page. If you are affected by this we will either have recently written to you, or will be writing to you in the coming weeks, to advise you of the change to your account’s fees and what options are available to you. Below is more information on this change. If you have a question that we haven’t answered below, please contact us on 0818 50 24 24 or +353 212 4076.
Why has my fee for maintaining the account increased?
From time to time we review our accounts and amend our Terms & Conditions as applicable. This change allows us to cover the cost to providing the services available on the accounts as well as allowing us to continue to improve the services that we provide to you.
We remain competitive with the new charging structure as we will not charge individual automated or non-automated transaction charges, for more information on these charges please see our Personal and Business Banking Charges Booklet. This means that you know you will only pay a maintenance fee for your day-to-day banking. Some other fees may be applicable for example, if you choose to use your Visa debit card outside the Eurozone.
Will there be any change to the cashback offers I receive?
There will be no changes to the cashback features available on the Explore Account. For more information on these offers please see our Explore Page.
If you are currently receiving cashback on your mortgage payments, there will not be any change to this feature. Please see our mortgage page for more information.
What are your options?
There is no need to take any action on this letter if you do not wish to. While our fees remain competitive, below are some other options available to you;
If you do not wish to accept this change you may close your account or switch providers without a charge:
- If you’d like to switch providers please contact your new bank who can arrange to close your account with Permanent TSB.
- Please be aware that if you choose to close your account all parties on the account must provide authorisation to close and you must repay any money and charges due on the account including any interest due on this up to the date of repayment in line with your terms and conditions. You can make an appointment at your local branch by calling 0818 50 24 24 or+353 1 212 4076.
If you choose not to close your account within 2 months, you are deemed to have accepted this change by continuing to use the account from the effective date of the notified change.
Please note that independent information regarding current accounts that are available from all payment providers can be obtained from the Competition and Consumer Protection Commission Authority – CCPC.ie or by calling +353 1 402 5555.
