If you're moving to Ireland and want to open a bank account, there are several steps you can follow:
Research the different banks operating in Ireland: Some of the largest banks in Ireland include AIB, Bank of Ireland, Permanent TSB. There are some fresh digital-only financial institutions, such as Revolut and N26, that are vying with conventional banks. Most banks in Ireland impose transaction fees or administrative charges on their current accounts.
Check if you meet the eligibility criteria: Most banks in Ireland require that you have a valid form of identification, proof of address, and proof of income. You may also need to provide proof of your eligibility to reside and work in Ireland.
Decide a type of account: Most banks offer a range of accounts, including current accounts, savings accounts, and credit card accounts. Consider your specific needs and select the account that is best for you.
Open the account: You can typically open a bank account by visiting a branch of the bank you've selected. During your visit, you'll need to provide the necessary documentation and fill out any required forms. If you’ve selected an online banking, you can do open the account online. N26 opens your account in 8 minutes.
Activate your account: After your account is opened, you'll receive an ATM card or debit card, as well as other information about how to activate and use your account.
★ Tip
- Note that different banks may have different requirements, so it's a good idea to check with the specific bank you're interested in before making a visit. Compare current account fees and benefits with Bonkers.ie. Find the account that’s right for you.
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If you don't require in-person access to a bank branch, don't need to deposit checks, and don't plan to deposit cash, a free account with Revolut or N26 would suffice, and they both offer their services at no cost.
If you believe you'll need to deposit both cash and checks, consider having both an account with EBS and one with N26 or Revolut. Keep in mind that you won't receive a checkbook from either account. Both accounts are free to maintain.
The EBS account can be used for withdrawing funds at ATMs, depositing cash, and checks. You can use the N26 or Revolut debit card for transactions such as Apple Pay, Google Pay, and free purchases made in currencies besides the euro. Your salary can be deposited into either bank, and you can transfer money between them as needed.
Additionally, having multiple bank accounts reduces the risk of having no access to funds in the event of IT issues with your bank or card provider.
Note: EBS is a subsidiary of AIB group, and they announced in January 2022 that they were undergoing “a number of strategic changes that build on the current proposition.” It is possible that EBS may eventually close current accounts and focus solely on mortgages.
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