PTSB claims 60% increase in current accounts following fee-free offer

Permanent TSB has reported a huge increase in new account openings since it launched its no-fee current account.

A spokesperson for the bank said that they had seen a 60% increase in new accounts being opened since they began offering free banking.

“Since the beginning of April, when we launched the account, there has been an increase of approximately 60% in the number of accounts opened. This is very encouraging and shows how well customers are responding to our no-fee offer,” said Niall O’Grady, head of transactional banking at Permanent TSB.