Tuesday 20 August 2019

Cost of using PTSB cheque book rises to €28

'Permanent TSB bank is introducing a new fee of 20c for each cheque' (stock photo)
'Permanent TSB bank is introducing a new fee of 20c for each cheque' (stock photo)
Charlie Weston

Charlie Weston

Using a cheque book is set to become even more expensive for Permanent TSB customers.

They will face fees and Government stamp duty of a total of €28 for using all the cheques in a book.

Permanent TSB bank is introducing a new fee of 20c for each cheque.

This will mean a total cost for customers of €8 per book of 40 cheques.

The Government already imposes stamp duty of 50c per cheque, or €20 for a book.

The bank is also restricting free banking for older people.

It comes as other banks have changed the rules for older people to qualify for the free use of a current account for their day-to-day banking.

The cheque book fee and the Government stamp duty would be charged when a cheque book was issued, the bank said.

The bank currently allows anyone over the age of 60 to qualify for an exemption from current account fees. But the age threshold is moving to 66.

However, the bank said people who were already over the age of 60 and availing of fee-free banking would not be affected by the change.

People who turn 60 before January 13 next will also not be affected.

The bank has moved to widen out the customers who will have to pay €2.50 to obtain a duplicate bank statement.

The charge will now apply to all customers, including those under the age of 18, full time secondary and third-level students, and those getting fee exemptions for lodging their salaries to a PTSB bank account.

A spokesperson for the bank said: "All banks restrict free banking to customers over 66 years of age and we are moving to that also, but no PTSB customer who is 60 today or before January 13 next will lose their entitlement to free banking that they have today."

Irish Independent

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