THOUSANDS of people across Ireland can earn hundreds in cashback by making a quick switch.
The savings that can be availed of include fuel discounts, mortgage savings and cashback on debit card transactions.
Those who move to PTSB could receive €600 cashback rewards per year by using their Explore Account.
The PTSB Explore account is the only current account in Ireland currently rewarding customers with cashback on debit card usage and utility bill payments.
This includes €60 yearly for using their debit card, Apple Pay or Google Pay to pay in shops, in-app or online.
Explore current account holders who pay their SSE Airtricity electricity or gas bill by direct debit can also get €65 yearly, based on a monthly bill of €270.75.
Additionally, new and existing PTSB mortgage holders who pay their monthly mortgage through an Explore account can benefit from two per cent cashback rewards on their monthly repayments.
Customers who use their Explore current account to make a monthly repayments could earn could get €390 yearly, based on repayments of €1,625 on a €300k mortgage.
Other Explore current account holders can earn €27 yearly if their Sky TV/broadband bill is paid by direct debit, based on a monthly bill of €45.25.
Savings include an additional €51 yearly on fuel price discounts using the Explore current account Circle K fuel card.
The bank said the percentage of people considering switching their current account stands at 21 per cent (up from 10 per cent in 2022) and 25 per cent considering switching savings (up from 14 per cent).
Chief Customer & People Officer of PTSB, Ger Mitchell, said: “Our Explore current account has been a huge success since its launch and is rewarding thousands of people with cashback benefits that quickly add up.
“Customers could receive €600 or more for simply using their debit card, and paying their PTSB mortgage and utility bills through this account, and we want even more customers to benefit from what Explore has to offer.
“Moving your current account is easier than you think – you can open an account in-app in minutes, online, in branch or by phone and we’ll be delighted to help you every step of the way.”
PTSB has launched a major new campaign to drive awareness of the value and benefits the Explore current account has to offer in order to encourage consumers to move.
The Explore account for both single and joint accounts can be opened in-app in minutes.
CASHBACK BENEFITS
- 5 cent every time they use their debit card, up to a maximum of €5 per month
- 2 per cent cashback on every monthly repayment to a PTSB 2&2 mortgage (e.g. €30 per month on a €1,500 monthly repayment)
- 5 per cent cashback on a Sky TV/broadband direct debit (e.g. €5 on a €100 bill)
- 2 per cent cashback on every SSE Airtricity direct debit (e.g. €2 on a €100 bill)
- Explore customers also qualify for a fuel card that gives them a 4 cent per litre discount on the pump price at participating Circle K locations.
Separately, Revolut customers will be able to turn their everyday spending into extraordinary rewards, including airline miles and exclusive discounts on travel, accommodation, experiences and more as part of a new debit card loyalty programme.
RevPoints offers broad and accessible redemption options that cater to a variety of lifestyles and preferences — without needing a credit card.
Customers can transfer their RevPoints to more than 30 airline loyalty programmes, including Flying Blue, making travel more attainable than ever in spite of surging flight prices.
RevPoints can also be redeemed for significant discounts on premium holiday accommodation and unforgettable experiences through the Lifestyle tab within the Revolut app.
For everyday convenience and rewards, points can also be used for discounts at top Irish brands such as O’Neills and DID Electrical when shopping online with Revolut Pay, ensuring that Revolut customers can make use of every point earned.
Depending on their plan, users can earn up to one point per euro spent.
They can even accelerate their earnings by converting spare change into points, completing fun in-app challenges or on in-app bookings for stays and experiences.
SEVEN MAJOR MONEY CHANGES IN SEPTEMBER
THERE are seven upcoming money changes that should ease the pain on people’s pockets this month, including a €462 payment set to be paid in just weeks.
Electricity & Gas Price Cut
Electric Ireland has confirmed that it will cut its electricity and gas prices from November 1.
The country’s biggest electricity provider confirmed that both its standard unit rate of electricity and standard gas rate will be reduced by three per cent for over 1.2 million customers.
This will save households around €45 a year on their electricity and €40 a year on their gas on average.
Clothing and Footwear Allowance
The Back to School Clothing and Footwear Allowance is a payment to help families buy clothing and shoes for their children returning to school.
Children ages four to 11 are eligible for a payment rate of €160 while a child aged 12 to 22 will see a payment of €285.
Most eligible parents will have had to allowance paid out automatically – but you can apply up until September 30 on your My Welfare account if you have not received it.
Fuel Allowance
The Fuel Allowance is a major payment aimed at covering the cost of heating your home for a 28 week period from September to April and will be paid out to thousands on September 23, 2024.
To qualify for the payment you must be over 70 or getting a qualifying social welfare payment and satisfy a means test while living alone or with one of the exceptions listed here.
It can be paid out for 28 weeks in €33 payments which you will receive with your other social welfare payments but people can opt to receive the amount in two lump sums of €462.
Student Grants
Maintenance grants for students are set to increase by €615 for all non-adjacent rates and by 10 per cent for adjacent rates.
There is also changes to the postgraduate tuition fee grant which will increase by €1,000 for students in the 2023/2024 academic year.
And students who qualify for the Free Fees Scheme, will see the Student Contribution be reduced by €1,000 in the 2023/2024 academic year. Those who have already paid will receive a refund.
From this month the income threshold to qualify for the 100 per cent Student Contribution will increase to €55,924.
Hot School Meals
In July, Social Protection Minister Heather Humphreys announced an additional 168 primary schools would receive Hot School Meals in the term starting in September 2024.
This means 345,000 primary school children are now eligible to receive hot school lunches.
Childcare Scheme
The National Childcare Scheme’s subsidy, which can be used with any childcare provider who is participating and it paid directly to them, will increase from this month.
From September 2, 2024 the minimum rate for the National Childcare Scheme subsidies increased from €1.40 to €2.14 per hour.
Free Book Scheme
An extension of the Free School Books Scheme means parents and guardians of students in Junior Cycle years in post-primary schools should not be asked to buy or rent any school books in the 2024/2025 school year under the scheme.
This applies to students enrolled in secondary schools in the Free Education Scheme and will see free schoolbooks and core classroom resources provided.
