Opening a bank account in Ireland is one way to get access to a European bank account.
However, opening an account in Ireland can be difficult, especially if you are a foreign non-resident.
And, if you’re looking to open accounts across Europe remotely, there are far easier ways to open a euro IBAN account 100% remotely.
In this article, we’ll discuss some of the alternative options and detail the process of opening a bank account in Ireland as a foreigner if that’s the path you want to pursue.
Feel free to use the table of contents to jump ahead to the sections most relevant to you.
Table of Contents
- Can I Open a Bank Account in Ireland?
- Banking in Ireland 101
- How Do I Open a Bank Account in Ireland?
- Frequently Asked Questions
- Do You Want Help Opening Bank Accounts?
Can I Open a Bank Account in Ireland?
Yes, you can open a bank account in Ireland by visiting a branch or applying online. This is true for individuals residing in the European Union or abroad. Importantly, opening a bank account as a non-resident is much more challenging. So, if this is your goal, you should consider showing up in person as this will increase your chances of success.
Of course, like applying anywhere, applicants will need to meet the account opening requirements in order to be approved for a bank account. In Ireland, the specific requirements that non-residents will struggle to meet include the local phone number and the local address. This is especially true for anyone interested in applying for accounts online or in person with the top Irish banking groups and best banks in Ireland.
However, there are ways for foreign non-residents to overcome these challenges if they know which banks are willing to accept non-residents and which proof of address each bank will accept.
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Banking in Ireland 101
Ireland’s banking landscape has undergone a number of changes in the last decade. From a roaring economy and financial services sector to a massive financial crisis. Not surprisingly, the shock of this crisis still reverberates through the banking sector today.
As a result, Irish banks tend to be more cautious when it comes to onboarding non-resident clients. This is because non-residents are viewed as considerably higher risk than resident clients, resulting in more compliance concerns and exposing the bank to additional scrutiny.
That said, it is possible to open in Ireland as a non-resident, though in most cases there are better opportunities to open EU bank accounts elsewhere. In any case, here are the client groups that can consider opening an Irish bank account.
Client Groups That Can Open an Irish Bank Account
- Foreign non-residents of Ireland
- Irish non-domiciled residents
- British citizens with ties to Ireland
- Irish non-resident companies (e.g. Irish LP)
- Foreign companies with ties to Ireland
How Do I Open a Bank Account in Ireland
If you are interested in Irish banking opportunities or even opening a UK bank account for non-residents, you will need to start by obtaining all of the necessary documents. The reason that this is the first step is that if you cannot put together the requirements, you will be better off applying elsewhere.
In particular, the most challenging requirement that non-residents face is obtaining an address and proof of that address. This is the same challenge that non-residents face when opening in other jurisdictions as well, including the United Kingdom and the United States.
Of course, there are other countries that do not require local proof of address in order to open bank accounts, including the Isle of Man, Jersey, Guernsey, Cyprus, Portugal, and elsewhere. In fact, in each of these cases, bank accounts can be opened 100% remotely.
How to Open a Bank Account Online in Ireland
Opening a bank account online in Ireland is reserved for specific client groups, this includes clients who are in the process of moving to Ireland and need a bank account to facilitate the move. In certain instances, it is possible to open online if you are not in the process of moving to Ireland, though this can be more challenging.
Frequently Asked Questions
Below are three of the most common questions we receive from people exploring how to open a bank account in Ireland. If you have further questions you would like answered, don’t hesitate to get in touch with us directly.
Can a Foreigner Open a Bank Account in Ireland?
Yes, foreigners can open a bank account in Ireland. However, not all Irish banks will accept foreign non-resident applications. With this in mind, bank selection is a critical step in the process of finding and opening accounts. Additionally, many foreigners will struggle to meet the account opening requirements if they have no ties to the country. As a result, foreigners often find that other EU banking options are easier to access and better suited to their needs.
How Do I Open an Irish Bank Account From Overseas?
Opening an Irish bank account from overseas is challenging. In most cases, our team suggests that individuals consider opening with one of the alternative European banking options instead. This can include opening 100% remotely with a low minimum deposit. On the other hand, if you are focused on opening an account in Ireland, there may be options that you can access depending on your client profile.
Can You Open an Irish Bank Account Online?
Yes, you can open an Irish bank account online. In fact, many Irish banks allow online applications. However, in most cases, applications that are approved online will be limited to Irish nationals living in Ireland. That said, there are a few exceptions that certain clients can access.
Do You Want Help Opening Bank Accounts?
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