Covid-19 - PTSB to pay customers for card transactions
30 Mar 2020)
- PTSB to pay Explore Current Account customers 10c cash back for all debitcard transactions through April and May
- Move could cover circa 6 million transactions based on recent experience
Monday 30th March 2020. Over 120,000 Permanent TSB customers with the bank’sExplore Current Account will receive payments of 10 cent for every purchase they make using the card (including contactless) during the months of April and May. Until now,Explore customers could avail of the 10 cent payment for the first 50 purchases made using the card each month. This new offer removes that 50 transaction limit, and will apply to both card and contactless transactions, meaning that customers are rewarded on an unlimited basis each time they pay using their card.
Permanent TSB has also announced that customers signed up to the GoRewards programme linked to all of the bank’s Current Accounts can receive €5 cash back when they complete their next grocery shop to a value of €30 or more at ANY supermarket in the Republic using their card, both online and in store during the month of April.
The move to pay customers 10 cent on Explore card purchases is in response to the Covid-19 crisis and is part of the bank’s efforts to encourage customers to pay using card as a safer option during this unprecedented time. The initiative builds on the move by all the retail banks in Ireland to raise the limit for contactless transactions from €30 to €50.
The Explore Current Account was launched by Permanent TSB in 2016 and is now the primary Current Account offered by the bank. Permanent TSB has approximately120,000 Explore Current Account customers who can avail of the offer. To give an indication of usage, in November and December last, Explore Current Account customers of the bank made almost 6 million card payments.
Speaking today, Jeff Harbourne, Head of Savings and Personal Banking with Permanent TSB said; “The Covid-19 pandemic is a national emergency and we want to encourage our customers to use their card, and go contactless where possible, to help slow the spread of the virus. Because the Explore Current Account is built around the concept of rewarding customers, it gives us great flexibility to do just that – reward our customers when they need it most. The initiative launches at the start of April and will run through to the end of May.”
The Explore Current Account also offers customers cashback on Direct Debits with various partner shops, brands and utilities, with additional tailored offers available via the GoRewards platform.
Issued on behalf of Permanent TSB by Gordon MRM