Compare the best current accounts in Ireland
Compare current accounts in Ireland, and discover benefits, costs and how to pick the best current account for your banking needs.
N26 Standard
Standard
AIB Personal Current Account
bunq CorePlusN26 Smart
Personal Current Account
Explore Digital Current AccountPremiumN26 Youbunq ProMetalN26 Metalbunq EliteUltraWhat do you get with a current account?
Personal current accounts are normally used for everyday finances like paying bills, online and high street payments and direct debits.
This type of account comes with a range of banking services,
With a current account you’ll will usually get:
- a debit card for contactless payments & ATM withdrawals
- a mobile app to manage your money
- an online account or telephone banking facilities
- an overdraft facility, subject to your credit history
- a chequebook if you want one
- Apple & Google Pay
Premium current accounts often provide perks such as cashback on purchases and bills.
Current account fees and charges
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 reviewing the terms and conditions carefully before opening an account to understand any potential extra costs is important.
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.
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.
Can you get a free bank account?
Yes, you may be able to get a basic bank account, which means you don’t pay any charges for everyday banking for the first year. However, you will need to meet certain criteria to qualify for one.
Compare and find out more about Basic Bank Accounts on our Basic Current Accounts comparison page.
Opening 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 needs to be less than six months old, but banks may accept 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 if you have bad credit?
The decision will be at the provider’s discretion, but if you cannot open a personal current account, you will be able to get 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?
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.
How to get 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:
How to switch your current account
The Central Bank Switching Code ensures that switches have to be completed by the bank within 10 working days.
This includes the transfer of all direct debits and standing orders. It takes the hassle out of switching and an assurance that you won’t miss any payments.
Here’s what you’ll need to do:
- Compare current accounts using Switcher.ie’s comparison tool
- Choose your new provider
- Apply for the account
- Read any T&Cs carefully and check you understand the fees and charges
- Tell your new bank about any overdraft you may need to transfer
- Agree on a date for switching (don’t pick the days you pay bills or get your wages)
- Complete an account transfer form. This gives permission to the bank to transfer any active direct debits, funds and close your old account if required.
- Give your new account details to anyone who pays into your account, like 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 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.
Due to Bank of Ireland branch closures, the bank has recently agreed a partnership with An Post that will allow customers to make over the counter cash and cheque lodgements and cash withdrawals to ensure continuity of service.
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 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.