Why You Need an Irish Bank Account
An Irish bank account is essential for:
- Receiving salary
- Paying rent
- Setting up direct debits
- Building financial history
Bank Options in Ireland
Traditional Banks
AIB (Allied Irish Banks)
- Largest bank in Ireland
- Extensive branch network
- Good mobile app
- International transfers available
Bank of Ireland
- Second largest
- Strong digital services
- Student and graduate accounts
- Good expat support
Ulster Bank *(closing retail operations)*
- Currently winding down
- Not recommended for new accounts
Permanent TSB
- Competitive accounts
- Fewer branches
- Good online services
Digital Banks
Revolut
- Irish IBAN available
- Easy setup via app
- No branch visits required
- Good exchange rates
- Free basic account
N26
- German digital bank
- Irish IBAN available
- App-based banking
- Free standard account
Wise (formerly TransferWise)
- Multi-currency account
- Great for international transfers
- Irish account details available
Traditional Bank Requirements
Documents Needed
Proof of Identity (one of):
- Valid passport
- National ID card
- Driving licence
Proof of Address (two of, dated within 6 months):
- Utility bill
- Bank statement
- Revenue correspondence
- Employer letter
- Lease agreement
Additional Helpful Documents:
- PPS number
- Employment letter
- Previous bank reference
The Challenge for New Arrivals
The catch-22:
- Banks want proof of Irish address
- Landlords may want bank details
- You might not have either initially
Solutions:
1. Start with a digital bank (no Irish address needed)
2. Use employer letter stating start date and salary
3. Use accommodation booking confirmation
4. Ask employer for help with introduction letter
Opening Process: Traditional Bank
Step 1: Choose Your Bank
Consider:
- Branch near home/work
- Online services quality
- Account fees
- International transfer capabilities
Step 2: Book Appointment
- Most banks require appointments
- Book online or call branch
- Typically 30-45 minutes
Step 3: Attend with Documents
- Bring all documents listed above
- Originals required (not copies)
- Bank may take copies
Step 4: Complete Application
- Fill out application form
- Provide personal details
- Set up online banking
Step 5: Receive Account Details
- Account number and IBAN provided
- Card arrives by post (5-7 days)
- Online banking activated
Opening Process: Digital Bank
Revolut (Most Popular for Expats)
Step 1: Download Revolut app
Step 2: Sign up with phone number
Step 3: Verify identity (photo ID + selfie)
Step 4: Receive virtual card immediately
Step 5: Order physical card (arrives 5-10 days)
Step 6: Activate Irish IBAN in app
Advantages:
- No branch visit
- No Irish address needed initially
- Instant account access
- Multi-currency
- Free to get started
Limitations:
- Not a "proper" bank (e-money institution)
- Some employers/landlords prefer traditional banks
- Limited customer service
N26
Similar to Revolut:
- App-based setup
- ID verification via video
- German bank license
- Irish IBAN available
Recommended Strategy for New Arrivals
Week 1: Open Revolut account
- Use for immediate needs
- Provide to employer for first salary
- International transfers if needed
Week 4-8: Open traditional bank account
- Once you have:
- PPS number
- Established employment
- Use for long-term banking
Account Features to Consider
Current Account Features
- Daily banking
- Debit card
- Direct debits
- Standing orders
- Online banking
- Mobile app
Fees to Watch
- Monthly maintenance fees
- ATM withdrawal fees
- International transfer fees
- Overdraft charges
Additional Services
- Savings accounts
- Credit cards (harder to get initially)
- Loans (require credit history)
- Insurance products
Building Credit History
Ireland has a credit bureau (ICB). Building history:
- Maintain account in good standing
- Use direct debits (shows reliability)
- Pay all bills on time
- Eventually apply for credit card
Common Issues
Address Verification
*Problem:* No utility bills in your name
*Solution:* Use employer letter, lease, or bank statement from abroad
PPS Number
*Problem:* Don't have it yet
*Solution:* Many banks can open accounts without—add later
Previous Address
*Problem:* Bank asks for previous Irish address
*Solution:* Explain you're new to Ireland, provide home country address
Reference from Another Bank
*Problem:* No existing Irish bank relationship
*Solution:* Get reference letter from bank in home country
Tips for Success
1. Start digital – Get banking immediately with Revolut/N26
2. Be prepared – Bring more documents than required
3. Be patient – Traditional banks take time
4. Compare accounts – Fees vary significantly
5. Set up online banking – Essential for day-to-day management
Your Irish bank account is a key foundation for life in Ireland. Take time to choose the right option for your needs.