Personal Finance Money transfer

Permanent TSB transfer large amount: What are the limits?

Gabrielle Figueiredo

14.02.25

Read time 2 minutes

There are many reasons why you might need to transfer a significant amount of money. It could be for that dream holiday you’ve been planning, a new car to zip around in, or even a down payment on a home. Whatever the reason, you’ll want to use a financial service to handle the transfer that’s trustworthy and cost effective.

In this article, we’ll explore how one of Ireland’s leading banks, Permanent TSB, handles large money transfers, including their processes, limits and cut off times.

As a bonus we’ll also let you know a bit about Wise, an alternative for high-value transfers that offers some competitive advantages.

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Can I transfer large amounts with Permanent TSB?

send-large-transfer-ptsb

Well, yes and no. Unfortunately, Permanent TSB has transfer limits when sending money to another account of up to €10,000. That means you can’t send large sums of money through the PTSB App, over the phone or using Open24 Online banking.¹

Instead you need to complete a payment form then visit a Permanent TSB branch in person when sending large transfers.

What are PTSB transfer limits?

PTSB App and Open24 Online banking have combined daily transfer limits that apply to personal Permanent TSB account holders. What the limit is varies depending on the type of transfer being done.²

Transaction Type	PTSB Daily Limit for Personal Customers online
Transfer between your PSTB accounts	€100,000
Transfer to another account	€10,000
Bill payments	€5000 for standard payments €25,000 for PTSB credit card bill payments
Future dated payments	€2000

It doesn’t appear possible to increase these limits so you will need to follow the high value transfer process if you need to send more than €10,000 in a single day.

Permanent TSB cut off times ⏰

Permanent TSB aims to ensure that the money from transfers initiated before 6:00pm are with the receiving bank no later than the next Business Day.³ The exception to this is SWIFT payments.

For foreign currency payments done using SWIFT, the cut off times vary depending on which currency you’re sending. Here are a few examples:

Currency	Cut Off Time³
Euro	3.30pm
Australian dollar	11:00am
Swiss franc	11:00am
Pound sterling	3:30pm
US dollar	3:30pm

How long a SWIFT transfer will take can vary depending on factors like the destination country and processing times of the receiving bank.

Wise: Transfer large amounts of money online

If you’re planning a large money transfer and Permanent TSB doesn’t quite meet your needs, you might want to consider Wise as an alternative. With Wise, you’ll benefit from much higher transfer limits:

To Euro: Send up to 6 million EUR per transfer.
From Euro: Transfer up to 1.2 million EUR per transaction when paying via bank transfer.

Wise also provides dedicated support for handling large transfers, ensuring you have all the information you need and the peace of mind to track your transfer every step of the way.

When it comes to sending or receiving large amounts internationally, fees can quickly add up. Wise keeps things transparent with no hidden charges, and all costs, rates, and timeframes are clearly displayed online or in the Wise app.

One standout feature of Wise is its use of the mid-market exchange rate. Unlike some providers that add hidden markups, Wise offers a fair deal without inflated margins.

Getting started with Wise is simple: Create a personal account for free, follow the easy prompts to set up your transfer, send any required documentation and you’re good to go. Whether you’re making a significant payment locally or abroad, Wise offers a reliable, cost-effective solution.

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How to make large transfers with Permanent TSB

To make a large transfer from a Permanent TSB account you need to fill in the payment form then visit a branch in person.⁴

Making life a little easier, the payment form can be completed online. To do that, you’ll need to provide this information:

Recipients account details

Your account number and sort code

Keep in mind that transfers to Australia, Canada and the USA have specific ways the account information of the recipient needs to be entered.

Once you’ve submitted the form you need to visit a PSTB branch in person and present a valid photo ID. This has to be done within 7 calendar days of the form being submitted, with the day of submission counting as Day 1. Once you’ve done that a PSTB staff member can process the transfer and get your funds on their way.

Sources used:

PTSB - Types of Payments and Transfers
PTSB - Mobile & Tablet Banking App FAQ’s
PTSB - Business Days and Cut off times
PTSB - Payment Form

Cover photo: RDNE Stock project
Second photo: Willfried Wende

Sources last checked on date: 13 January 2025

*Please see terms of use and product availability for your region or visit Wise fees and pricing for the most up to date pricing and fee information.

This publication is provided for general information purposes and does not constitute legal, tax or other professional advice from Wise Payments Limited or its subsidiaries and its affiliates, and it is not intended as a substitute for obtaining advice from a financial advisor or any other professional.

We make no representations, warranties or guarantees, whether expressed or implied, that the content in the publication is accurate, complete or up to date.