Compare the best current accounts in Ireland
Compare current accounts in Ireland, including fees and perks, and choose the best account for your banking needs. Find out how to open or switch bank accounts easily with our step by step guide.
bunq Free
N26 Standard
Standard
AIB Personal Current Accountbunq CorePlusN26 Smart
Personal Current Account
Explore Digital Current AccountPremiumN26 Gobunq ProMetalN26 Metalbunq EliteUltraWhat is a current account for?
Personal current accounts are typically used for everyday finances, such as:
- paying bills
- shopping and online payments
- managing direct debits
- transferring money
- receiving salary or pension
What do they offer?
This type of account comes with a range of banking services and helpful features in exchange for a monthly account fee. However, some digital providers, such as Bunq, Revolut, and N26, offer standard free accounts.
With a current account you’ll typically get:
Premium current accounts often provide extra features such as cashback on purchases and bills or travel perks.
Current account fees and benefits explained
Most banks charge monthly maintenance fees and may also charge for ATM cash withdrawals. Additional fees can apply for essential services such as setting up direct debits or making a deposit.
You may also incur fees for transactions that require additional administrative work by the bank.
Additional charges typically apply for:
- Bounced cheques
- Card replacements
- Unauthorised overdrafts
- Overseas spending
Charges and fees vary by bank, so it is essential to carefully review the terms and conditions before opening an account to understand any potential extra costs.
What are overdraft charges?
An overdraft allows you to withdraw money or pay bills from your bank account even when your balance is zero. You are borrowing money from the bank so it’s a form of short-term credit.
There are two main types of overdraft:
- Arranged Overdraft: a pre-approved agreement with your bank that allows you to spend more money than you currently have in your account, up to a specified limit
- Unauthorised Overdraft: this occurs when you spend beyond your account balance without having a prior agreement with your bank in place
All current account providers charge a set-up fee, and interest if you use your overdraft. Interest rates vary but are much higher for an unauthorised overdraft.
Withdrawing cash and ATM fees
Even if your account allows free ATM withdrawals, Government Stamp Duty is charged at a rate of €0.12 per ATM transaction. Government Stamp Duty only applies to ATM transactions in Ireland and is due annually in arrears.
This charge is capped at €2.50 per year if you use your debit card for ATM transactions only and €5 if you use it for both ATM transactions and purchases.
Some account providers offer free or low cost cash withdrawals for a limited number of withdrawals each month, but then may charge fees as high as €2.99 per transaction thereafter.
Are free bank accounts available in Ireland?
Yes, you may be able to open a basic bank account, which means you won’t incur any charges for everyday banking for the first year.
However, you will need to meet certain criteria to qualify for one; for instance, you can only open a basic bank account if you don’t already have a current account.
Compare and find out more about Basic Bank Accounts on our Basic Current Accounts comparison page.
Current account perks and rewards in Ireland
The best perks and rewards are typically found in either the paid premium plans offered by digital challenger banks, such as Revolut and Bunq, or in specific reward accounts from traditional banks.
Premium digital plans focus on lifestyle and travel benefits, including
- travel insurance
- cashback
- exclusive partner offers
- purchase protection
- higher savings interest rates
- discounts on currency exchange.
Among the traditional Irish banks, however, PTSB stands out in offering direct cashback rewards through its Explore Account.
This account rewards customers for their normal spending by offering 5c cashback every time they use their debit card (up to €5 per month), up to 5% cashback on household bills paid by Direct Debit (with partners like Sky and SSE Airtricity), and 2% cashback on monthly PTSB mortgage repayments.
When comparing, it’s best to weigh the flat monthly fee of premium or reward accounts against the cash you can realistically earn back or perks you’ll actually use.
How to choose the best current account
With so many current accounts to choose from, it’s often a challenge to pick the right one. Here are our tips for finding the best current account for your needs.
Choosing the right current account
Whether you want to open a bank account for the first time or you’re thinking of switching, take time to fully compare bank accounts and think carefully about which best suits your finances.
You should consider:
Opening or switching a bank account
Some providers only offer online accounts, but the main banks still allow you to open an account in person. From online to in-branch, here’s how to open a current account.
How do you open a current account?
There are several ways to open a current account, such as:
- Online using your laptop, PC or tablet
- Via a mobile app
- In a branch
- By phone
- By post
Once your application is complete, and your new current account has been set up, your new bank will order your new debit card and provide you with details about internet and mobile banking.
What you need to open a bank account?
Whether you are opening an account in person or online, you will need at least one document as proof of identity and separate documents for proof of address.
If you are opening an account online or via an app you may need to provide more than one piece of evidence and Photo ID.
What counts as proof of identity?
Your identity documents need to be in date, valid and legible, and the name must exactly match your proof of address. Some examples are:
- Passport
- Birth certificate
- EU driving licence
- EU national identity card
- Public service card
If the date of birth isn’t shown on your ID, you may also need to provide your birth certificate as supporting evidence.
What can be used as proof of address?
Proof of address must be less than six months old, but banks may accept up to 12 months for mortgage statements or home insurance documents. Some examples are:
- Utility bills, e.g. electricity, gas, telephone, broadband, waste collection
- Letters from a regulated financial provider, e.g. mortgage or credit card statement
- Government department correspondence, e.g. LPT letter
- Insurance documents
- Tax credit certificates
Can you get a current account with bad credit?
The decision will be at the provider’s discretion; however, if you can’t get a personal current account, you will still be able to open a basic bank account.
You’ll likely be credit checked so your new account provider can find out how you have previously managed your money. If you’d like to know more about your credit score, visit our guide, How to check your credit record?
Switching your account: A step by step guide
Thanks to the Central Bank Switching Code, moving your current account in Ireland is a simple, hassle-free process.
The Code legally obligates banks to complete the entire switch, including the seamless transfer of all your active Direct Debits and Standing Orders, within 10 working days.
This provides assurance that you won’t miss any critical payments and removes the hassle of moving your money.
Here are the steps you need to take:
- Research and compare accounts
- Choose your new account carefully based on your needs
- Read the T&Cs fully and check the fees and charges
- Apply to the provider and verify your identity with the required documents
- Tell your new bank about any overdrafts and existing loans
- Select a switching fate (don’t pick the days you pay bills or get your wages)
- Complete the Switching Authorisation form. This gives permission to the bank to transfer any active direct debits, funds and close your old account if required and triggers the 10 day pledge.
- Update inward payments. Provide your new account details to anyone who pays into your account, such as your employer.
Current account FAQs
Can I do my banking at the post office?
Yes. An Post has more than 900 post offices across the country, providing a range of banking services for AIB and Bank of Ireland customers.
This service is available from 9am to 5.30pm Monday to Friday and 9am to 1pm on Saturday.
On their website, you can find out more about banking with An Post.
What's the difference between a debit card and a credit card?
A debit card is provided with your current account and can be used for everyday spending.
A credit card can be obtained from your bank or another credit provider for making purchases on a buy now, pay later basis. Interest charges may apply.
If you get a credit card, you’ll be given a credit limit based on your credit score, which will allow you to make large purchases, such as a holiday, and spread the cost.
Can you get a prepaid card without a current account?
Yes, you can. You don’t need a current account to have a prepaid card, and you don’t need to be credit checked for a prepaid card as you would for a current account or credit card.
You may still have to undergo identity and age checks though.
Can I switch my bank if I'm overdrawn?
It depends on your bank or provider. Some request you pay it off before switching, and others will take on your overdraft, subject to your credit rating.
It’s best to discuss it with your prospective bank before applying.