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A guide to moving your Current Account & Overdraft

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Already have a Current Account with us?  |  Step by step guide  |  FAQs

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.

So before you move your Current Account and Overdraft to PTSB, you’ll need to have a PTSB Current Account.

Already have a Current Account with us? 

If you already have a Current Account in your own name, you can apply for an Overdraft on it, if it is an eligible account. Basic Payment Accounts and Teen accounts are not eligible for an Overdraft.

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.

A step by step guide

Before you start

Documents you will need
To be eligible for an Overdraft, you need to be:
  • Minimum of 18 years of age
  • Resident in the Republic of Ireland
  • Have a minimum of six months continuous employment

Documents you will need

To keep things official, there are just a few documents we will need from you.

For both products:
  • ID verification, like your passport
  • Address verification, such as a utility bill
  • Information about your non-Irish tax residency (where applicable), including Tax Identification Number(s)
For your Overdraft:
  • Your PPSN
  • Proof of Income such as your last 3 months bank statements / recent payslip. If you‘ve been in your current job less than 12 months, you will need proof of employment permanency
  • Proof of Immigration status if you are not an EU citizen.

Please see here for more information on each of these required documents.

Please Note: not all applications are the same and additional information may be required in certain circumstances. We’ll let you know as soon as possible if we require further information. 

Lending Criteria, Terms and Conditions apply.


How to apply for a Current Account
Apply in app

You can apply for PTSB’s award-winning Explore Account by downloading the PTSB app and selecting the “Current Account Application” icon and following the instructions.


To apply in app you have to be over 18, a resident in the Republic of Ireland and be a:

  • New or existing PTSB customer opening a sole Current Account in your own name
  • New PTSB customers opening a Joint Current Account*

*If one or both of you are already customers with PTSB, you will need to to open your account. We are working hard to bring Joint Current Account opening to the app for our existing customers soon.

Opening a Joint Current Account in-app?

Step 1: Customer 1 starts the application, provides their basic information and uploads documents to verify their identity and is asked to invite Customer 2 to join the application

Step 2: Customer 2 receives an email invite to join the application, provides their personal details and uploads their documents to verify their identity.

Step 3: Once Customer 2 completes their step, Customer 1 is notified to log back in, review and submit the full application.

Top Tip!

If you are a new PTSB customer (i.e. you do not yet have any products with PTSB) and you need to open both a sole and Joint Current Account, open your Joint Current Account in-app first. You can then return to the app as an existing customer and open a sole account.

Find out more about the Explore Account.

Register for Online banking

Once your Current Account is active you will need to register for Open24 Online Banking. When you open your Current Account in-app we will send you a text to complete your Open24 registration. You will need to complete this step before you apply for your Overdraft in-app. Find out more about Open24 Online Banking.

How to apply for an Overdraft
Apply in app

If you are registered for Open24 online banking, you can log into the PTSB app, select the “Overdraft Application” icon and follow the instructions. 

Your application can only be taken out in your sole name in-app and will be subject to a full credit assessment and affordability assessment.

Log in to Open24
Top tip
Make sure you have your PPSN to hand in order to apply

You will have to enter your PPSN when submitting your application in-app or provide it to us if applying over the phone or in branch. If we already have it on file, you will not have to provide it to us again. If approved, you will need to provide us with proof of your PPSN.

Please note: We cannot accept your Public Service card as proof of PPSN. 

Find out more about documents we can accept.

Not registered for Open24 Online Banking?

If you are not registered for Open24 Online Banking or not yet a PTSB customer, you can make an appointment to pop into any of our branches and submit your application with one of our team. Call us on 0818 50 24 24, Monday to Friday (excluding bank holidays) 9am-5pm and 10am-2pm Saturday and Sunday, to make an appointment


Move funds to Current Account

Move funds to your new Current Account. Once your new account is open, you can lodge money, either as an Electronic Funds Transfer (EFT) or at a PTSB branch.

Top tip

Your old account should be in credit when you are closing it to ensure there are enough funds to meet any bills, fees or charges that might be due.

Swap incoming and outgoing payments

Next, choose a way to switch your Current Account that suits you. You can either choose to self-switch or use the help of our switching team.

Self Switch Switching guide
Provide necessary documents for Overdraft

If you apply in-app, and we require any documents in order to progress your application we will ask you to upload them and provide you with a link. We will update you on your application via SMS. If we need to confirm anything with you, we will contact you by phone so keep an eye out for our call.

How we contact you

We will call you on 01 0212 4251.

If we cannot reach you, we will send you a SMS. 

Please note:
We will never ask for personal information via SMS or include a link within the SMS for you to click. 

We will not make unsolicited calls and ask for security information or security passcodes.


Close your old account and transfer remaining balance
Close your old account

When your incoming credits and outgoing payments are updated and in order, it's time to close your old account and start making the most of your new PTSB account. 

Transfer remaining balance

Don’t forget to transfer any remaining balance from your old account to your new account.

What happens next with your overdraft?
  • Once your Overdraft is approved, we will contact you to let you know.
  • Your Overdraft will be applied to your Current Account and you will be able to access the funds immediately.
What do I do if I am not approved?

If after receiving your application and providing all your documents, your application is not approved, we will ring you to let you know and explain why. 

Lending Criteria, Terms and Conditions apply.

Already have a Joint Current Account and need an Overdraft?
  • If you are both new PTSB customers, you can open a Joint Current Account in app, otherwise if you are an existing customer, you have to book an appointment in branch and one of our team will help guide you through the process. 
  • If one or both of you are an existing customer and are looking to open a new Joint Current Account, you have to book an appointment in branch and one of our team will help guide you through the process. You can apply for an Overdraft on your Joint Current Account at the same time.
  • You will both need to attend the appointment and each of you will have to bring required documents outlined above to complete the application, and your mobile device to register for Open24 Online banking.
  • The length of your appointment time will vary depending on the number of products you wish to open.

Call us on 0818 837 408 or 01 212 4022 to book an appointment.

Frequently asked questions

Current Account FAQs

How do I pick when to start moving my account?
When your new account is up and running, review your old bank account and look for a time on your account that has the least amount of activity i.e. a period where there is no Salary, Other Credits, Standing Orders or Direct Debits. This is normally towards the end of the month.

I don’t have a clear date available to start moving my account, what should I do?
If there are payments going out of your account throughout the month and there are no clear dates to start moving your account, there are a couple of things you can consider for both Direct Debits and Standing Orders:

Direct Debits

  • Contact your Direct Debit provider to see if they can change the Direct Debit to a different date to ensure you do not miss a payment; or
  • Cancel the impacted Direct Debit with the company directly and make a manual payment for when the payment is due. You will then need to set up a new DD mandate with the company for any future payments from your new PTSB account. 

Please note: This option (cancelling), will not be possible for all companies and will need to be checked with the business the Direct Debit is for e.g. cancelling a DD on your Life Assurance or Health Insurance may be considered a break in your contract and it could impact your cover.

Standing Orders

  • Amend the date the SO is due to be debited from your old account.
  • Cancel the SO and make a manual payment. You can then set up a new SO on your new PTSB account through Open24 online banking on desktop.

Please note: As per above, you would first need to confirm this does not impact any Terms you have agreed to e.g. you may have an SO set up as a loan repayment.

How do I set up Apple Pay?
Getting set up is simple, click here for the steps on how to add your new card to Apple Pay.

How do I set up Google Pay?
How you set up Google Pay on your new card is outlined here

What is Open24 and why do I have to register?
Open24 is the name of our online banking service. You can access your online banking on desktop at or by logging in on your mobile phone via the PTSB app.

You can view your balance, recent transactions and so much more. Our Online Banking page will provide you with more information.

When you open your account in-app, once it is active you will receive a text to prompt you to return to the app and complete your registration.

Otherwise, when you receive your Visa Debit card give us a call on 0818 50 24 24 or +353 1 212 4101 and we’ll set you up on Open24.

View more FAQs
Overdraft FAQs

What is the minimum Overdraft amount?
Minimum Overdraft limit you can apply for is €500.00

What is the maximum Overdraft amount?
Maximum Overdraft limit is €30,000.00

What are the fees associated with an Overdraft?
A set-up fee of €25 applies (when the Overdraft is first used) and an annual renewal / review fee of €25 applies thereafter (will apply 12 months from the date that the set-up fee was deducted). Overdraft interest will apply. Lending criteria, terms and conditions apply. See here for information on set-up charges and interest rates.

I am switching my Current Account to PTSB, will my Overdraft move to my new account too?
An Overdraft will not move automatically to your new Current Account when you close your existing Current Account. An overdraft is a credit product, this means you have to submit an application and PTSB has to assess that you have the means to repay the Overdraft.

I am switching my Current Account to PTSB, will I have to clear my existing Overdraft balance before I close it?
If you have an Overdraft on your existing Current Account, you will need to ensure the balance that you owe, if any, is cleared before you close your account.

If you are not able to repay the balance before you close the account, you should first talk to your existing provider about the options available to you. Contact us on 0818 837 408 or 01 212 4022 to see how we can help.

Find out more about Explore, our awarding winning Current Account.

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Find out more about Overdraft benefits.

Find out more
Help and Support

Whatever your questions, we'll do our best to help you find the answers.

Other options

Existing customer with a Current Account?

You can call us on 0818 837 408 or 01 212 4022 and we can do your application with you over the phone.

Or, you can apply for a Overdraft in branch by calling 0818 50 2424 and making an appointment. 

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