Travelling with Permanent TSB: Charges for withdrawing and using your card abroad

Like millions of other people based in Ireland you might be looking at travelling abroad in the near future. If you do, you’ll want to be aware of any foreign currency fees or charges from your bank so there’s no nasty surprises when you go to use your card.

To that end we’re going to take a look at what are the charges for making payments and cash withdrawals outside of Ireland using a Permanent TSB card.

We’ll also introduce you to the Wise card, that can help you spend and withdraw money abroad in more than 40 currencies using the mid-market rate.

Discover the Wise Card 💳

Permanent TSB withdrawing money abroad: What are the ATM charges?

The ATM withdrawal fees for Permanent TSB vary depending on the type of card and whether you’re in the European Union or not.

Here’s what you’ll be charged for withdrawing cash with a Permanent TSB card, and excluding any local ATM fees.

Withdrawal Type	Fee
Debit card withdrawal at an EU ATM	€0.00¹
Debit card withdrawal outside the EU or from a non-Euro ATM	3.5% of the Euro value (min €3.17, max €11.43)¹
ICE Visa Credit Card cash advance at a Euro ATM	1.5% of the withdrawal (min €2.00)²
ICE Visa Credit Card cash advance at non Euro ATM	Cash advance fee of 1.5% (min €2.00) + ATM currency conversion fee of the 3.5% of the Euro value²

Something to keep in mind if you have a credit card is that the interest rate for cash advances is generally different to your normal rate. The ICE Visa Credit Card offered by Permanent TSB has an interest rate of 22.46% applied to all cash advances.²

Pay attention to ATM charges

When travelling abroad, Permanent TSB might not be the only entity charging you fees for your ATM withdrawals.

⚠️ In many countries the ATM owners also charge a fee for foreign cards or cards not within their ATM network.

The fee might be a flat fee or a percentage of the withdrawal, and you’ll generally be informed of it during the withdrawal process.

Look out for Dynamic Currency Conversion 💲

Sometimes you’ll be asked at an ATM or payment machine if you want to pay using the local currency or your home currency. If you chose to be billed in the local currency then your financial provider will determine the exchange rate.

⚠️ If you choose to be billed in your home currency then the merchant's service provider will apply a Dynamic Currency Conversion (DDC).

While DDC might make it easier to see what you’re spending, it often works out to be more expensive due to additional fees and a less favourable exchange rate.

You also don’t necessarily escape the foreign transaction fees from your bank because you’re still making a purchase abroad.³

➡️ To sum it all up it’s usually cheaper to pay in the local currency, especially if you’re with a provider like Wise who uses the mid-market exchange rate.

If you haven’t heard of the mid-market exchange rate before, here's a quick insight:

Around the globe bankers and merchants buy and sell different currencies. There’s a price they’re willing to pay for certain currencies and a price they're willing to sell for. The mid-market rate lies in the middle of the buy and sell price, making it a fair way to decide the exchange rate. As we mentioned, it’s also the rate that Wise chooses to use.

Using your Permanent TSB VISA card abroad: Fees and charges

When travelling abroad you can generally use your Permanent TSB debit card or credit card in payment machines just like you do at home. The main difference is the fees and charges that apply.

Here’s the fees for using your Permanent TSB VISA cards abroad:

Transaction Type	Fee
Debit card purchases in Euros	€0.00¹
Debit card purchases in a foreign currency	1.75% of the Euro value (Min €0.46, Max €11.43)¹
ICE Visa Credit Card purchases in Euros	No transaction fee²
ICE Visa Credit Card purchases in a foreign currency	Currency conversion fee of the 1.75% of the Euro value²

🔎 For more details on this provider, you may also want to check this article: Permanent TSB international transfer.

Wise card: An alternative for paying and withdrawing money abroad

If you’re looking for an alternative for transactions abroad then the Wise Account is worth checking out, specifically because registering for an account is free and there are no maintenance fees.

With a Wise Account you can hold and convert over 40 currencies as well as spend money in 150+ countries around the globe.

You can order a Wise debit card to make daily spending easier, and if you have the local currency in your Wise Account the card will automatically use it with no conversion fees being applied.

If you don't, it will automatically convert your money at the mid-market rate with a variable conversion fee starting at 0.43% depending on the currency.

With a Wise debit card you can make 2 withdrawals of up to 200€ each month for free. It's important to note that Wise will not charge you for these withdrawals, but some additional charges may occur from independent ATM networks, as explained above.

Here's how the Wise card fees work for withdrawals:

Wise card ATM fees	Less than 200€ per month	More than 200€ per month
2 or less withdrawals	Free	1.75% of the amount over 200€
3 or more withdrawals	0.5€ per withdrawal	0.5€ + 1.75% of the amount over 200€

Please see Terms of Use for your region or visit Wise Fees & Pricing for the most up to date pricing and fee information.

The Wise card it's a contactless card and you can also create virtual cards, and use both of them on mobile wallets like Apple Pay, Google Pay, Fitbit Pay and Garmin Pay.

Open your Wise Account
for free 🚀

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FAQ: Travelling abroad with Permanent TSB

Can I use my Permanent TSB card abroad?

Yes, you can use your Permanent TSB card abroad but keep in mind that there will be additional charges depending on where it’s used.¹

How does the Permanent TSB exchange rate work?

To determine the exchange rate for their credit and debit cards, Permanent TSB uses data from the European Central Bank (ECB) that’s provided to them by Visa. A markup is then applied to the ECB rate which is calculated using the rates set by Permanent TSB and Visa.⁴

Wise handles things a little differently. As we mentioned, Wise uses the mid-market exchange rate. It’s provided by independent sources using real time market data and there’s no mark ups on the currency conversion.

What is the Permanent TSB withdrawal limit abroad?

Permanent TSB doesn't mention a specific limit on withdrawals abroad so it’s likely the same as your normal limit. If you want to confirm this, it’s best to reach out to one of their customer service agents.

What to do before using your PTSB card abroad?

Before you use your Permanent TSB card abroad there’s a step you might need to take first.

If you’re travelling on a cruise ship or outside the European Union, Permanent TSB advises that you notify them in advance so they’re aware it’s you that is using the card abroad, and can keep an eye for any unusual activity.

There’s two main ways to let them know of your travel plans:

• Log into your online banking and update the travel notes section
• Call them on 0818 50 24 24⁵

Sources used:

1. Permanent TSB - Fee Information Document (p.2)
2. Permanent TSB - Conditions of use for a permanent tsb Visa Credit Card (p.41,42)
3. Forbes Advisor - What is Dynamic Currency Conversion and How to Avoid Paying It
4. Permanent TSB - FX Margin Calculator for Card Based Transactions
5. Permanent TSB - Stay safe abroad

Sources last checked on date: 18 January 2023