Ireland – Banking

What are the main banks in Ireland?

Three so-called “pillar” banks dominate the Irish retail banking landscape, collectively running the country’s primary branch network, ATM infrastructure, and digital banking services. Allied Irish Banks, widely referred to as AIB, stands among the largest financial institutions in the country, delivering personal banking, business banking, and wealth management services supported by a broad network of branches and ATMs throughout Ireland. AIB can be contacted at aib.ie or by telephone on +353 (0)1 6600311.

Bank of Ireland is one of the most historically significant financial institutions on the island, with a heritage stretching back more than two centuries. It provides a comprehensive range of products covering current and savings accounts, mortgages, personal loans, investments, and insurance, and has invested heavily in digital capabilities including online banking, a mobile app, and contactless payment facilities. Further details are available at bankofireland.com.

Permanent TSB focuses on retail and SME customers, offering current accounts, deposit products, mortgages, loans, credit cards, overdraft facilities, insurance, and online and mobile banking. As the sixth largest bank in Ireland by total assets — which stood at €28.9 billion in 2024 — it plays an important role in the domestic market. Visit ptsb.ie for more information. Branch availability and contact details can change, so it is advisable to consult each bank’s official website for the most up-to-date information.

Outside the three pillar banks, An Post — the national postal service — extends banking access to virtually every town and village across Ireland, including remote rural locations, through a range of financial products spanning savings accounts and personal loans. An Post Money can be found at anpost.com/Money. Ireland is also among just six euro-area nations with a functioning credit union movement — cooperative lending institutions governed under national legislation. At the end of 2023, there were 276 credit unions in Ireland holding combined assets of approximately €24 billion. Their representative organisation, the Irish League of Credit Unions, can be found at creditunion.ie. The Central Bank of Ireland maintains an authoritative register of all licensed institutions.

Do any major international banks operate in Ireland?

A considerable number of international banks have established a presence in Ireland, though the vast majority operate in a corporate or wholesale capacity rather than providing everyday retail current accounts to personal customers. Ireland’s position within the European single market and the European banking union has made the country an appealing European base for global financial institutions, giving its banking environment a notably international character compared with many non-EU counterparts.

Barclays Bank Ireland delivers corporate and investment banking services including cash management, corporate financing, and foreign exchange solutions, operating as a branch of Barclays PLC. Bank of America Europe DAC functions as a branch of Bank of America National Association and ranked as the fifth largest bank in Ireland by total assets, with €85 billion recorded in 2024. Citibank Europe plc holds the distinction of being Ireland’s largest bank by total assets, reaching €178.6 billion in 2024, though its operations are primarily treasury and institutional in nature rather than serving personal customers directly.

Numerous other prominent international names are represented in Ireland, including Wells Fargo, Scotia Bank, HSBC Continental Europe, TD Securities, ING, LGT Bank Ireland, BNY Mellon, and Bank of Montreal, all of which are largely oriented towards corporate, institutional, and investment banking activities. Goldman Sachs Europe, Deutsche Bank, J.P. Morgan, KBC Bank, ING Bank, and Klarna Bank are also counted among the credit institutions resident in Ireland.

Expats seeking everyday retail banking facilities will find the domestic pillar banks or digital-first providers such as Revolut or N26 the most practical choices. The current service scope of any international institution should be confirmed directly with that bank, as retail availability can shift over time. An authoritative register of licensed credit institutions is maintained by the Central Bank of Ireland.

Do banks in Ireland offer accounts or services specifically for expats?

Unlike certain offshore or international private banks, Irish institutions do not typically market products labelled specifically as “expat accounts.” That said, the major retail banks have considerable experience dealing with newcomers and non-residents, and a standard current account is within reach for most people once the requisite documentation is in order.

The two principal account categories available in Ireland are current accounts and deposit accounts, each differing in terms of access, interest rates, and the services on offer. Current accounts are the most commonly used option and are provided by banks, credit unions, and An Post alike. They are designed for daily money management and generally include a debit card, direct debit functionality, online and mobile banking access, and the ability to receive regular salary payments.

For those wanting a multi-currency or internationally oriented banking solution — either before establishing a traditional Irish account or alongside one — digital banks present a convenient alternative. Revolut’s multi-currency accounts, which earned the 2024 Bonkers.ie Award for Best Current Account, allow users to receive, hold, and convert over 35 currencies, and since they come with a local Irish IBAN, handling payments within Ireland is seamless. This functionality is particularly appealing for expats who deal with transactions across several currencies on a regular basis. Always review fees and eligibility conditions directly with providers, as these are subject to periodic change.

European Union banks may also offer deposit products in Ireland on a passported basis, sometimes through intermediary platforms such as Raisin Bank, giving expats the opportunity to access competitive savings rates from a range of European institutions without the complexity of opening multiple foreign accounts. Verify current terms and conditions with each provider before making any commitment.

What are typical bank opening hours in Ireland?

Irish bank branches generally operate Monday to Friday, with doors typically opening at around 9:30am and closing between 4:00pm and 4:30pm, although these times can vary from one branch to another. Busier city-centre locations in Dublin and other large urban centres may open marginally earlier or remain open until 5:00pm on certain weekdays. Before making a trip, it is always sensible to check the particular branch’s schedule on the bank’s website, as hours may differ from any stated national standard.

The majority of Irish bank branches do not open on Saturdays or Sundays, though certain outlets in larger shopping centres or prominent city locations may be exceptions. All branches close on Irish public holidays, of which there are ten per year — worth bearing in mind if a time-sensitive transaction is needed around a holiday period.

All major banks offer internet and mobile banking services, enabling customers to check balances, pay bills, set up transfers, and carry out most routine tasks at any hour of the day. Telephone banking is similarly available across the main providers. While digital-only banks such as Revolut and N26 allow accounts to be opened entirely online without any branch visit, traditional banks frequently require customers to appear in person at least once during the application process. For the most accurate and current branch opening times, consult each bank’s official website directly, as schedules may be updated and can differ by region.

What do expats need to know about the banking system in Ireland?

As a member of the eurozone, Ireland conducts all banking, salary payments, and everyday commercial transactions in euros. There are no currency controls or prohibitions on holding foreign currency accounts, and Ireland’s participation in the EU’s Single Euro Payments Area (SEPA) means that euro transfers to and from other SEPA countries are fast, affordable, and subject to standardised processes. This represents a meaningful advantage over banking in countries outside the SEPA framework, where cross-border transfers tend to be slower and more expensive.

The Deposit Guarantee Scheme (DGS) provides a safety net for depositors should a bank, building society, or credit union authorised by the Central Bank of Ireland become unable to honour its deposit obligations. The scheme is administered and funded by the covered institutions themselves, and compensation of up to €100,000 per eligible depositor is paid out automatically — as of 2025 — without any need for the depositor to submit a formal claim. This broadly mirrors the protections offered by the FSCS in the United Kingdom (up to £85,000 per institution) and the FDIC in the United States (up to US$250,000 per institution), though the specific terms and procedures differ. Always verify current thresholds at depositguarantee.ie.

The Irish DGS covers deposits held at EU branches of banks authorised in Ireland, while deposits placed with banks authorised in another EEA member state fall under that country’s own guarantee scheme. This distinction is particularly relevant for users of digital institutions such as Revolut, which operates under a Lithuanian banking licence — deposits held with Revolut Bank are protected by the Lithuanian deposit guarantee scheme, with up to €100,000 guaranteed by the Lithuanian state company Deposit and Investment Insurance.

Ireland’s Dormant Accounts Act 2001 provides that accounts showing no activity for 15 consecutive years are classified as dormant, with unclaimed funds transferred to a state fund administered by the National Treasury Management Agency (NTMA). Expats who maintain Irish accounts while living abroad should make occasional transactions to keep their accounts active and avoid having funds transferred under this legislation.

The Central Bank of Ireland (CBI) serves as the national competent authority responsible for the day-to-day supervision of less significant institutions operating in Ireland. Consumers seeking guidance or wishing to raise a regulatory concern can contact the Central Bank of Ireland or the Financial Services and Pensions Ombudsman (FSPO), both of which play key roles in protecting banking customers.

How do I open a bank account in Ireland as an expat?

The process of setting up a personal bank account in Ireland is generally completed within a few days and can often be initiated either online or at a branch, depending on the institution. Traditional banks require specific documentation — most notably proof of identity and proof of an Irish address — which can pose a practical challenge for those who have not yet found permanent accommodation. The following steps outline what to expect.

1. Choose your bank. Take time to compare the main options — AIB, Bank of Ireland, permanent tsb, An Post Money, or a digital provider such as Revolut or N26. Weigh up factors including how close the nearest branch is, what monthly fees apply, how user-friendly the mobile app is, and whether any minimum balance is required. Pay close attention to the full fee schedule, covering maintenance charges, ATM withdrawal costs, and international transaction fees, to avoid unexpected costs later.
2. Gather your identity documents. A valid passport or national identity card will be required. Some banks will also accept a driving licence as a supporting form of identification. Ensure that whichever documents you present are current and have sufficient validity remaining.
3. Obtain proof of address. This step is frequently the most difficult for newly arrived expats. Acceptable proof typically includes a recent utility bill, a signed lease agreement, or an official letter addressed to you at your Irish residence. Some banks will also consider an employer’s letter or a solicitor’s confirmation of address. Contact your chosen bank in advance to clarify whether an appointment is necessary and to obtain a definitive list of acceptable documents so you can arrive fully prepared.
4. Obtain a PPS number if required. The Personal Public Service (PPS) number is Ireland’s national identifier for tax and social insurance purposes. While it is not an absolute requirement for opening every type of basic account, most banks will request it as part of their Know Your Customer (KYC) verification process. Applications can be made through the Department of Social Protection.
5. Visit a branch or apply online. Digital banks typically allow the entire process to be completed via a smartphone app, whereas traditional banks usually require at least one in-person branch visit. Bring all relevant documentation with you, and allow additional time in case an appointment needs to be scheduled.
6. Make an initial deposit if required. Certain banks ask for a small deposit to activate a new account. The required amount varies by institution and can change over time, so confirm the current requirement directly with your chosen bank before attending.
7. Activate your account and set up digital banking. Following approval, your debit card and online banking login details will typically be sent by post or delivered via the app. Configure your mobile banking application and enrol for any additional services you need, such as contactless payments, Apple Pay, or Google Pay.

For digital-only banks, the entire process is considerably more straightforward. Opening a Revolut account in Ireland can be completed in under 10 minutes using the app, beginning with your mobile number, email address, and identity documents. A Bunq account can similarly be set up in minutes on a smartphone following ID verification, with no minimum opening balance required. For current and authoritative requirements, consult the relevant bank’s own guidance or the Central Bank of Ireland.

What banking and payment apps are widely used in Ireland?

Ireland has a dynamic digital banking environment, with mobile banking adoption rates that rank among the highest in Europe. Each of the three pillar banks — AIB, Bank of Ireland, and permanent tsb — provides a well-regarded mobile application supporting everyday account management, payments, transfers, and bill settlement. AIB’s app, in particular, is frequently praised for its straightforward interface and breadth of functionality, enabling customers to monitor accounts, move money, and pay bills without visiting a branch.

Challenger banks operating without physical branches, including Bunq and Revolut, have also gained considerable ground in the Irish market, attracting customers through low-cost structures and streamlined digital experiences. By 2024, Revolut had amassed more than 3 million customers in Ireland — a figure driven partly by the ease and speed of signing up. Revolut Bank UAB holds authorisation from the Bank of Lithuania and is overseen by the European Central Bank, while the Central Bank of Ireland regulates its conduct of business within the country.

Entirely app-based providers — including Revolut, Bunq, Money Jar, and N26 — maintain no physical branch presence and deliver all services through mobile applications. N26 is authorised as a bank in Germany and operates across the EEA. Wise (previously known as TransferWise) has become a go-to option for Irish residents needing to make international payments or manage multiple currencies; it offers a multi-currency account and debit card with local account details available in euros, US dollars, Australian dollars, and a range of other currencies.

In 2025, it was announced that Ireland’s three remaining pillar banks intend to launch Zippay — an in-app account-to-account payment service — in 2026, subject to final readiness assessments and regulatory approval. PayPal retains broad acceptance across Irish e-commerce platforms. Contactless card payments have become the norm for in-person transactions, with the technology routinely used at small retailers, public transport points, and hospitality venues. Before using any fintech service for transactions of significant value, always verify its regulatory standing and review applicable terms and conditions.

How can expats manage money between Ireland and their home country?

Ireland’s membership of SEPA means that euro transfers to and from other eurozone nations are quick, low-cost, and subject to uniform rules. Sending money to countries outside the eurozone — such as the United States, Canada, Australia, or the United Kingdom — generally involves international wire transfers conducted through the SWIFT network, which typically attract fees and exchange rate margins that differ considerably between service providers. When comparing options, it is important to evaluate the full cost, including both the transfer fee and the exchange rate being applied, rather than relying on headline figures alone.

All of Ireland’s main retail banks can handle international SWIFT transfers, though the associated charges can be substantial. PTSB, for instance, supports both SWIFT and SEPA payment options. For expats who regularly send money overseas, specialist transfer services such as Wise or Revolut often deliver more favourable exchange rates and lower overall costs than traditional banking channels. Revolut facilitates international transfers to more than 160 countries with just a few taps, though applicable fees and terms should be reviewed carefully. Always obtain current fee information directly from the provider, as rates are subject to revision.

No general currency controls exist in Ireland to limit the amount you can send abroad. However, anti-money laundering (AML) legislation obligates banks to establish the purpose behind significant transfers — typically those exceeding €10,000 — and supporting documentation may be requested. The Central Bank of Ireland is the authority responsible for ensuring that all banks fulfil their obligations under anti-money laundering and counter-financing of terrorism regulations. If you hold bank accounts in other countries, Irish tax rules may require you to disclose these to Revenue, Ireland’s national tax authority; consult Revenue.ie or a qualified tax professional for advice tailored to your circumstances.

For those making large or repeated international transfers, it is prudent to consider the tax and reporting implications in both Ireland and the country of origin. Revenue Ireland may impose disclosure requirements on foreign income or assets beyond certain thresholds. Professional advice is strongly recommended for any substantial cross-border financial arrangements, with official guidance available from the Central Bank of Ireland and Revenue.ie.

Frequently Asked Questions

Can I open an Irish bank account before I arrive in Ireland?

Most traditional banks insist that applicants be physically present in Ireland and have an established Irish address, since proof of address is a fundamental requirement. Digital banks such as Revolut or N26 are considerably more flexible and can often be set up in advance of or shortly after arrival using only a passport and a mobile number. Once you have settled at an Irish address, opening an account with a traditional bank becomes a straightforward process.

What documents do I need to open a bank account in Ireland?

You will generally need a current passport or national identity card along with evidence of your Irish address — for example, a utility bill, signed tenancy agreement, or an official letter sent to your home address. Most banks will also request your Personal Public Service (PPS) number, Ireland’s national tax identifier. Some institutions may additionally ask for confirmation of employment or income. Since requirements differ between banks, always check the official guidance of your chosen provider before applying.

Is there a deposit guarantee in Ireland, and how much does it cover?

The Deposit Guarantee Scheme (DGS) is designed to protect depositors if a bank, building society, or credit union authorised by the Central Bank of Ireland is unable to repay their deposits. As of 2025, eligible deposits of up to €100,000 per depositor are paid out automatically, with no requirement to file a claim. For verified current limits and details of covered institutions, visit depositguarantee.ie.

Are international bank transfers from Ireland subject to any restrictions?

There are no blanket currency controls in Ireland preventing you from sending money abroad. That said, anti-money laundering legislation requires banks to establish the reason for large transactions, and those above approximately €10,000 may trigger a request for documentation supporting the source or purpose of the funds. If you anticipate making sizeable or frequent international transfers, seeking advice from a financial or legal professional with knowledge of both Irish and cross-border regulations is advisable.

Is Revolut a safe banking option in Ireland?

Revolut received a full banking licence from the European Central Bank in 2021 and has operated as a fully licensed bank in Ireland since March 2022. Customer deposits of up to €100,000 are protected by the Lithuanian state company Deposit and Investment Insurance. The Central Bank of Ireland regulates Revolut’s conduct of business within Ireland. For routine spending and international payments, it is a widely trusted option, though for products such as mortgages or substantial savings balances, a traditional bank may be better suited to your needs.

Do I need a PPS number to open a bank account in Ireland?

A PPS number is not an absolute prerequisite for opening a basic account at every institution, but the vast majority of banks will request one as part of standard identity verification and anti-money laundering checks. Applying for a PPS number promptly after arriving in Ireland is strongly advised, as it is also needed for employment, paying tax, and accessing public services. Applications are processed through the Department of Social Protection — check gov.ie for current procedures and contact details.

What is the currency in Ireland, and can I hold foreign currency accounts?

Ireland’s official currency is the euro (€). There are no legal restrictions on holding foreign currency accounts in Ireland, and many digital banks and platforms such as Revolut or Wise make it simple to hold and convert a range of currencies within a single account. Conventional banks are also able to arrange foreign currency accounts or execute international transfers in most widely traded currencies, although fees will apply in most cases.

What should I do if I have a complaint about my bank in Ireland?

The recommended first step is to submit your complaint formally through your bank’s own internal complaints procedure. If the outcome is unsatisfactory, you have the right to bring your case to the Financial Services and Pensions Ombudsman (FSPO), an independent statutory body empowered to investigate disputes between consumers and financial service providers in Ireland. The Central Bank of Ireland, as the primary regulatory authority, also publishes consumer information and guidance through its Consumer Hub.