PTSB launches EUR 2 million campaign for bank moves

Permanent TSB has announced plans to spend more than €2 million on a new campaign to target customers facing a bank switch in the coming month.

The campaign will include advertising on TV, radio and social media, as well as ongoing initiatives such as the presence of PTSB staff in Ulster Banks and pop-up branches across Ireland.

The investment comes as both KBC and Ulster Bank prepare to leave the state in the coming months.

The bank will also offer incentives to attract new customers, such as the option to access credit card balance transfers interest-free for six months.

The PTSB has seen an increase of over 230 percent in the number of current accounts opened in the year to date compared to the same period last year. Those looking for new accounts are also increasingly going online to open an account, with 70 per cent of new checking accounts at PTSB now being opened through the bank’s digital tool.

Research carried out by the bank in partnership with Kantar found that 79 per cent of Ulster Bank’s customers intend to complete their switch to a new bank before the end of September.

The data also showed that, on average, customers had to move two accounts in addition to their checking account.

“The volume of account openings is really encouraging and the number taking advantage of our digital app is higher than we expected,” said Stephen Jackson, Head of Accounts and Marketing.

“Customers have told us that they want clear and transparent information about their individual circumstances, readily available to them, especially when they need to switch multiple products,” he added. PTSB launches EUR 2 million campaign for bank moves

Fry Electronics Team

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