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Standing TSB to increase fees for small business accounts

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Permanent TSB is set to increase current account fees for business/SMB customers after the majority state-owned bank made a major foray into the sector.

The increases include higher quarterly maintenance fees for business and SME account holders, which will rise to €8.00 from August 25. Previously, this fee was €3.81.

From the end of August, deposits and withdrawals supported by the counter will now cost 80 cents per transaction instead of 29 cents.

For account holders, the check deposit fee will also increase from 19 cents to 40 cents, while the check withdrawal fee will also increase from 29 cents to 40 cents.

Business and SMB current account holders will also see the cost of a transaction at non-permanent TSB ATMs increase to 40 cents, up from 17 cents.

Permanent TSB added that fees at a Permanent TSB ATM or for automated transactions, including standing orders or direct debits, will not change.

In-store deposits and withdrawals at self-service machines also remain at the same cost, while online payment fees remain the same.

There are no changes to the fees for personal checking accounts.

This was announced by a spokesman for the bank Irish Independent that corporate and SME current accounts have not been charged for over 10 years.

The spokesman added: “Permanent TSB has invested in a significant upgrade of its business and SME banking offering and is targeting an additional EUR 1 billion in business loans over the next three years.”

https://www.independent.ie/business/irish/permanent-tsb-to-hike-fees-for-small-business-accounts-41798476.html Standing TSB to increase fees for small business accounts

Fry Electronics Team

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