Permanent TSB international transfer: Fees, rates and transfer time

Gabrielle Figueiredo

For over 200 years Permanent TSB has been providing financial services in Ireland, making it one of the nation's longest serving banks¹. A lot has changed in that time and for many customers the ability to quickly and easily transfer money abroad has become increasingly important.

In this article we’ll explore what you need to know about Permanent TSB international transfers, taking a look at their processes, fees and exchange rates. We’ll also let you know how Wise could save you money in international transfers.

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Before we get started on Permanent TSB, here's a quick example. This is how much an international money transfer could cost with them compared to Wise if you sent €1000 to a GBP account in the UK.

Provider Fee Exchange rate Total cost
Permanent TSB €31.50² Exchange rate + markup €31.50 + exchange rate markup + likely fees from both intermediary and recipient banks
Wise €6.02 Mid-market exchange rate €6.02

Prices and fees provided on Wise website and Permanent TSB schedule of fees² on May 10th, 2023.

Permanent TSB international transfer fee

International transfers with Permanent TSB use the SWIFT payment system². Which means there are likely intermediary banks as well as the recipient bank that may levy fees of their own.

The fees for the transfer depend on the destination you're sending funds to.

Destination Permanent TSB Fee²
Within the EU (Euro/Swedish Krona) €0.50
Other Payments €31.50

💡 Keep in mind: On top of the Permanent TSB fees, the person you’re sending money to may be charged additional fees by their bank for receiving funds from a foreign bank.

Permanent TSB exchange rate

Aside from the fees for a Permanent TSB international transfer, you’ll also have to absorb any losses on the exchange rate.

⚠️ Currently, the exchange rates that apply to international transfers with Permanent TSB aren’t viewable on their website, but they do state that it includes a foreign exchange bank margin that’s added to the exchange rate.

This margin is the difference between the Permanent TSB exchange rate and the rate at which they buy and sell currency in the wholesale exchange market.²

The bank also publishes their foreign currency spreads which are approved by the Central Bank. This is the difference to the mid-market rate that the bank is allowed to charge.

Countries/Currencies Spread²
Canada, Swiss, US and EU Currencies other than Norway and Sweden Up to 6%
Australia, Greece, Japan, Norway and Sweden Up to 8%
Other currencies Up to 10%

They also have an FX Margin Calculator⁸ that you can use to check on the margin and exchange rates that apply to credit cards, debit cards and ATM withdrawals abroad with Permanent TSB.


Meanwhile, Wise has a different approach. With Wise, your money is converted using the mid-market exchange rate just like you see on Google. There’s no hidden margins and you can easily check the exchange rate and fees anytime using the Wise pricing calculator.

Send money with Wise always using the mid-market rate

While Permanent TSB does support international transfers, the fees and exchange margins can certainly add up over time. If you're looking for a cheaper way to send money abroad, Wise might be the answer.

With Wise you can easily complete secure international money transfers in minutes. You’ll always get the mid-market exchange rate and you’ll know any fees upfront, before you make the transfer. It’s possible to send money to 70 countries around the world using their free and easy to set up account.

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account today 🚀

FAQ: All you need to know about international transfer with Permanent TSB in Ireland

There’s a surprising amount of things to think about when you make an international transfer. Here are some more common questions and answers for you.

Permanent TSB international transfer time: How long does it take?

How long the transfer from Permanent TSB takes depends on where you are sending the money and who the receiving bank is.

In general, Permanent TSB will attempt to ensure that the receiving bank has the funds one business day after the cut off time. The cut off times vary for different currencies and are listed on their website⁹.

How do I make an international transfer (SWIFT transfer) with Permanent TSB?

There are four main ways to transfer money abroad with Permanent TSB.

  • Online banking
  • In a branch
  • Phone banking
  • Using the mobile app

Online banking

Here’s what you’ll need to do to carry out an international transfer using Permanent TSB’s Open24 Online Banking system.³

  1. Login to your Open24 Online Banking
  2. Click “Payments & Transfers”
  3. Choose “Transfer to another account”
  4. Select or add the payee to your account if you haven’t already
  5. Fill in the details and follow the prompts to complete the transfer


In a branch

If you prefer to do things in person you can head into a Permanent TSB branch.⁴ Here’s some of the information you should take with you just in case it’s needed by the teller.

  • Your account details
  • The transfer information
  • The receiving account details
  • Your identification

Over the phone

With Permanent TSB you can also do international transfers over the phone by following these steps.⁵

  1. Make sure you’ve registered for Open24 Telephone Banking
  2. Call 0818 211 570
  3. Follow the prompts to complete the transfer

Mobile app

Finally, here’s what you’ll need to do to transfer money abroad using the Open24 mobile app.⁶

  1. Open the app on your mobile device and login
  2. If you haven’t added the payee you have to do it on a tablet, mobile devices don’t have this capability.
  3. Click on “Payments and Transfers”
  4. Follow the prompts to transfer funds to a third party account
🔎 Read more: Permanent TSB Student Account: Your full guide

Permanent TSB international transfer limit

With your Open24 Online Banking and the mobile banking app, you have a combined daily limit of €10,000 which you can transfer to another account.⁶

If you need higher limits, Wise allows sending up to 6 million EUR per transfer.

Send larger amounts with Wise 💰

What bank details do I need in order to make and receive an international money transfer with Permanent TSB?

PTSB doesn't specifically mention all the information on their website, but here’s a general idea of what’s usually required to send or receive money through an international bank transfer:

  • The full name and address of the payee
  • The recipient’s IBAN or international bank account details if transferring outside of the EU
  • The SWIFT/BIC code or routing number if you’re transferring to the USA

Permanent TSB contact

Here’s the ways you can contact Permanent TSB yourself.

  • Call them on the phone number that’s relevant to your situation Current Account Support: 0818 502 424 or +353 1 212 4101
  • Reach out on Facebook or Twitter
  • Visit a branch in person

Check all the options available on their Get in Touch page⁷.


Sources used:

  1. Permanent TSB - Heritage
  2. Permanent TSB - Fees
  3. Permanent TSB - Payments and Transfers Demo
  4. Permanent TSB - Branch Transformation - Frequently Asked Questions
  5. Permanent TSB - Open24 Telephone Banking
  6. Permanent TSB - FAQ
  7. Permanent TSB - Get in touch
  8. Permanent TSB - FX Margin Calculator
  9. Permanent TSB - Business Days and Cut off times
  10. Photo credit - Rupixen via Unsplash

Sources last checked on date: 10 May 2022

This publication is provided for general information purposes only and is not intended to cover every aspect of the topics with which it deals. It is not intended to amount to advice on which you should rely. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content in this publication. The information in this publication does not constitute legal, tax or other professional advice from Wise Payments Limited or its affiliates. Prior results do not guarantee a similar outcome. We make no representations, warranties or guarantees, whether express or implied, that the content in the publication is accurate, complete or up to date.

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