Get your Overdraft decision in minutes!
An Overdraft gives you extra flexibility when you need it most, so we've made applying for an Overdraft quicker and easier. An Overdraft is a credit facility on your Current Account which allows you to access funds up to an agreed limit above your actual balance.
Benefits of an Overdraft
- Security: Perfect for any short term cash flow problems due to unforeseen events.
- Peace of mind: Once approved, you can access your additional funds any time at an ATM, online or using your Visa Debit Card.
- Reassurance: That you won’t be left stranded for those last few days of the month while you wait for payday to arrive!
- Helpful: Use your overdraft to avoid being charged for any missed direct debits due to insufficient funds – it happens to us all.
How do I apply in-app?
- If you're a PTSB customer, you can apply for an Overdraft on any eligible Current Account* you hold in your own name. Once approved, you can apply the funds to your account instantly.
* Basic Payment Accounts and Teen accounts are not eligible for an Overdraft.
- In-app approval is subject to a minimum credit limit of €500 and a maximum credit limit of €10,000.
- For Overdraft applications greater than €10,000 you can still apply in-app and one of our team will call you back to discuss your application.
- To get in-app approval you must be registered for Open24 Online Banking, have a Current Account with us, and have your salary paid into this account.
- To complete your application in app, you may have to provide your PPSN (Personal Public Service Number) and upload a Proof of PPSN. Please see acceptable PPSN documents here.
- If we already have your PPSN referenced on file, you will not have to provide the number to us again, however if approved, you will need to submit proof of PPSN
- Your application can only be taken out in your sole name and will be subject to a full credit assessment and affordability assessment.
- A set-up fee of €25 applies (when the overdraft is first used) and an annual renewal/review fee of €25 thereafter (will apply 12 months from the date that the set-up fee was deducted).
- You must be 18 years of age or over to apply for an overdraft with your current account. Overdraft interest will apply. Lending criteria, terms and conditions apply.
Please note: Not all applications are the same and additional information may be required in certain circumstances.
Read information on our overdraft rates.
Ways to Apply
- If you’re an existing PTSB Current Account customer and registered for Open24 Online Banking, simply log in to the PTSB app to apply.
- If you’re not registered for Open24, you can call us on 0818 837 408 or 01 212 4022 and our team will take your application or they can book an appointment at any PTSB branch of your choice.
Managing your Overdrafts
Here’s what you can do to best manage your Overdrafts.
- Easily keep track of your account: Register with PTSB’s online banking platform Open24 to ensure that you have easy access to your account. This will allow you to be aware of account activity including Direct Debits payments. Find out how to register for Open24 here.
- Operate within your limit: In order to avoid incurring referral item charges and unpaid charges, you should ensure you operate within your Overdraft limit.
- Know your fees and rates:
- Set-up fee: When an Overdraft is first used, a set-up fee of €25 will be applied.
- Annual renewal fee: An annual renewal fee of €25 will be applied 12 months from when the set-up fee was deducted.
- Rate of Interest: The current rate of interest for Overdrafts is 15%. This rate is variable and subject to change.
- Short term borrowing: Overdrafts are not recommended for long-term borrowing as they tend to have higher interest rates. If you are looking for a longer term borrowing solution, we have a range of other products available such as our ICE Visa Credit Card and a number of Loan options to choose from.
- Cancellation: Remember, you will be charged the annual renewal fee even if you don’t use your Overdraft facility, so if you wish to ever cancel this facility please see our Account Closure page for more details.
The current overdraft rate of interest is 15%. This rate is variable and subject to change. Lending terms and conditions apply. In the case of an unauthorised overdraft, an additional interest rate of 12% variable per annum will be charged. Where applicable a set-up fee of €25 also applies and an annual renewal fee of €25 applies annually thereafter.
Warning: If you do not meet the repayments on your loan, your account will go into arrears. This may affect your credit rating, which may limit your ability to access credit, a hire-purchase agreement, a consumer-hire agreement or a BNPL agreement in the future.