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Managing Everyday Banking

How to manage your money

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Our everyday banking products and features give you more of what you need, when you need it. So you can do more of what matters. We have compiled these tips to help you make the most of your everyday banking, to manage your monthly repayments, not overpay and to earn savings where you can.  

Tips for helping you keep up with your finances

  • Know your balance: Always use the PTSB app or Open24 Online Banking to keep track of your account balance. Knowing your account balance can make it easier to plan ahead and avoid fees for missed or late payments.
    • Keeping track of your balance can also help you identify suspicious activity on your account and allow you to spot potential fraudulent activity.
    • Ensure you are registered for eStatements. This will allow you to review all transactions regularly throughout the year.
  • Create a Budget: Outline your income and expenditure to understand how much you are spending every week. This will help you prioritise spending and identify areas where you can save.
  • Managing Standing Orders/Direct Debits: Monitor your standing order and direct debits lists on a regular basis to make sure there are sufficient funds in your current account to pay them, avoiding unnecessary fees and charges.
  • Set Financial Goals: Whether it’s paying off debt, buying a home or saving for a holiday, setting clear financial goals will help you work towards them and help you stay motivated.
  • Reduce Debt: Focus on paying off high-interest debt, such as credit card and overdraft balances.
  • Build an Emergency Fund: Set aside funds to cover unexpected expenses like car repairs and medical bills. Aim to have 3-6 months’ worth of living expenses in case of emergency.
  • Review you Finances Regularly: Take time each month to review your current account, track your progress towards your goals, and make any necessary adjustments to your spending or saving habits.
  • Protect your Financial Information: Safeguard your personal and financial information by using strong, unique passwords for your online banking and being cautious of phishing scams. PTSB Protect can add an extra layer of anti-fraud protection to your PTSB app to further protect your financial information. 

Tips for managing your Credit Card

Check your Credit Card eStatement regularly: This can be done on the PTSB App or Open24, and can help you keep track of your transactions. Reviewing your Credit Card statements regularly to check for unauthorised charges or errors can help you catch suspicious activity early, saving you from potential financial headaches. Here is a guide to help you understand your Credit Card statement.

  • Utilise your interest free period wisely: Know when your statement issue date is and plan your purchases around that to avail of up to 56 days interest free.
  • Create a budget: Try to stick to it, track your expenses and pay off the balance in full every month if possible. A useful budgeting tool provided by the CCPC can be found here.
  • Pay on time: Avoid late fees and negative impacts on your Credit Rating by paying on time each month.
  • Be aware of additional fees and charges:
    • €7.50 if you exceed your credit limit.
    • €7.50 if your minimum payment is not received by your due date.
    • €10 if your payment is returned unpaid.
  • Pay your monthly balance in full: Whenever possible, pay the balance in full each month to avoid accruing interest charges. If you can't pay the full balance, aim to pay more than the minimum due. This reduces the amount of interest you'll pay over time, and helps you pay off your debt faster.
  • Set up a Direct Debit: Pay back the highest percentage you can. Here is a link to outline the potential savings that can be achieved by increasing your d/d repayments (click ‘clearing your credit card tab’ within link).
    • Current Direct Debit repayment options available are available are 2.5%, 25%, 50% and 100%.
  • Avoid withdrawing cash with your Credit Card: Cash Advances have additional fees and a higher interest rate, so try to avoid withdrawing cash unless absolutely necessary. If you need cash, use your debit card, or if you need to borrow, consider other personal lending options.
  • Protect your card information: Keep details secure and never share them. Ensure that websites are secure when shopping and purchasing online.
  • Avoid unnecessary debt: Only use the Credit Card for purchases you can afford to pay off.
  • Understand the Credit Card: Familiarise yourself with Terms and Conditions and additional fees.

If you are facing financial difficulties, you can contact us on 1800 855 010 or +353 21 6013 800 (from abroad). Lines are open Monday to Friday, 9am to 5:15pm, (excluding public holidays), or reach out to any financial support if you need it - additional supports can be found within the links below.

Credit Card repayment difficulties  |  MABS  |  Consumer Rights and Personal Finance - CCPC

Cashback on Bills

If you are an Explore Account customer, we‘ve partnered with some of Ireland’s leading brands, such as Sky, SSE Airtricity, and Circle K to bring you great savings on your regular bills. Whether you are a new or existing customer with our partners, you can get up to 5% cashback when you pay by Direct Debit*.

*Please note Cashback on Bills does not include Sky Mobile bills

Find out more about our Partners and Cashback On Bills.

Your Cashback on Bills will be credited to your Explore Account at the start of each month and you can keep track of this on Open24 Online Banking.

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