In this article, we’re going to uncover the best current account in Ireland.
This will include options for Irish residents, foreigners, and non-residents of Ireland.
On the other hand, if you’re a foreigner and just starting your search for a euro IBAN account you can click here to access our free guide on the topic right now.
Feel free to use the table of contents to jump ahead to the sections most relevant to you.
Table of Contents
- Best Current Account Ireland
- Can a Non-Resident Open an Irish Bank Account?
- How to Open Irish Current Accounts
- Frequently Asked Questions
- Ready to Explore Your Options?
Best Current Account Ireland
When choosing the best current account in Ireland, there are several important (and often overlooked) factors applicants should consider. These factors include the minimum deposit requirement, monthly maintenance fees, ATM withdrawal limits, direct deposit limits, standing order limits, the existence of a mobile application, and whether chequebooks are available.
These factors can often be overlooked when applicants are moving to Ireland or looking to open an account in Ireland as a non-resident. In fact, in many cases, individuals moving to Ireland from other countries find that banks in Ireland can be more expensive and have stricter requirements than those in their home countries.
Of course, by selecting the best current account in Ireland for your client profile, you can typically avoid excessive fees. In certain instances, you may even be able to avoid fees altogether. To do this, applicants will need to find a bank with a minimum balance requirement that they are willing to maintain. For example, EUR 1,500 to 2,500 depending on the bank. By maintaining the required balance, most banks will waive any ongoing fees for the account.
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Can a Non-Resident Open an Irish Bank Account?
Yes, a non-resident can open an Irish bank account. However, not all banks accept non-residents in Ireland. Additionally, it’s important to note that while it is possible to open accounts remotely in Ireland as a non-resident, the process is challenging and not available to everyone.
Irish banks also have several unique account opening requirements that foreign non-residents might not be familiar with. In particular, Irish banks have unique authentication requirements for foreign documents, including government-issued identification and proof of address.
So, if you are planning a trip to Ireland and would like to open a bank account while visiting, you should plan ahead and obtain all of the necessary documents before leaving your home country.
How to Open Irish Current Accounts
To open an Irish current account, you will first need to consider how much you are willing to leave on deposit with the bank. This will narrow down your options and help you identify banks that match your objectives.
Alternatively, if you are not concerned with the fees that Irish banks charge, you may want to consider the specific services you require. This is especially true if you need access to mobile banking, chequebooks, or other services that are not offered at all banks in Ireland.
Once you have narrowed down your options, you can then proceed with applying directly through the bank. To do so, you will need to prepare the following requirements before applying.
Please note: If you are a foreign non-resident, you will need to collect certain documents before traveling to Ireland. These documents will then need to be authenticated according to the bank’s unique requirements.
Requirements for Opening Current Accounts
The following are standard requirements for all applicants, including residents and non-residents of Ireland:
- Passport (or Irish driving license)
- Proof of address (utility bill or financial institution)
Non-residents of Ireland will also need to navigate the following document requirements when applying to open a current account:
- All documents must be in English (or translated into English)
- Documents must be certified per the bank’s instructions
- You will need to show a clear connection to the EU
Lastly, in many cases, foreign non-residents will need to visit a branch in person to apply for an account. However, it is possible to open a current account remotely, if you know which banks to apply to and how to approach them.
That said, if you are trying to open a current account in the EU and you would like to do so remotely, there are easier options available elsewhere.
One example is opening a current account in Portugal 100% remotely, which requires a low minimum deposit and can be done from the comfort of your home. If you would like to explore these options, access our free euro IBAN account guide using the link above.
Frequently Asked Questions
Below are two of the most common questions that we receive from people looking for the best current account in Ireland If you have further questions you would like answered, don’t hesitate to get in touch with us directly.
Which Bank Has the Best Current Account in Ireland?
The best current account in Ireland ultimately depends on the priorities of the applicant. But, when balancing all of the potential variables, one of the Big Four Irish banks will likely meet the needs of most applicants. The Big Four Irish banks include the Bank of Ireland, Allied Irish Bank, Ulster Bank, and Permanent TSB.
What Bank in Ireland Does Not Charge Fees?
Many banks in Ireland do not charge fees to clients when a minimum balance is maintained in the account. That said, there are fees for account activity that exceeds account limits, including ATM withdrawals, direct debits, standing orders, etc.
Ready to Explore Your Options?
If you would like assistance navigating your banking options at home or abroad, we can help.
You can access GlobalBanks IQ, our international banking intelligence platform, in just a few clicks. Unlock our bank database, individual bank profiles, account opening strategies and reports, banker scripts, and more.
But, if you want a 100% personalized account opening service that taps into our team’s expertise and provides direct banker introductions, you can get started with GlobalBanks Insider.
Of course, if you have any questions, please contact us directly.
