Best Bank Accounts in Ireland

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Best Bank Accounts in Ireland
My student BOI account has now expired & I'm not entirely happy going from 0 Euro to 72 Euro a year in fees. So I have done some extensive research into finding out what the most affordable bank accounts are in Ireland for professionals, whether you are moving from being a student or moving to Ireland for the first time, I am sure the comparison in this quick and easy to understand video will help.
Jumping straight in;
The biggest bank in Ireland, AIB has a great mobile app, a large branch network, however AIB's current account is expensive compared to all the other providers.
It charges a € quarterly maintenance fee, a € fee for every ATM withdrawal and a € charge for chip and pin transactions, self-service lodgements, online transactions, direct debits and standing orders to all standard customers. These fees are applied regardless of how much you lodge or keep in your account each month.
Contactless transactions are free though.
There is some good news in that some AIB customers can avoid fees. Student accounts, graduate accounts, accounts for those over 66 years of age and AIB’s Basic Bank Account are free of day-to-day charges.
Also, people who pay their AIB mortgage from an AIB current account are able to avoid day-to-day fees.
BOI, my current bank account, used to charge individually for a host of current account transactions but since 23rd November 2020 it has replaced all these with a flat €6 monthly account fee, regardless of usage, which should see most customers, though not everyone, pay a bit less each month. Student accounts are free.
An post launched its Smart Account back in June 2017.
However it leans on the expensive side. It has a €5 monthly maintenance fee and a € ATM withdrawal fee. It also has the highest foreign exchange fees if you use your card outside the eurozone. You'll also be charged € for any cash or cheque lodgements at your Post Office.
The cash withdrawal fee reduces to € if money is taken out at an An Post branch and you get one free post office withdrawal each week.
All other day-to-day transactions are free.
Credit Union costs €4 a month, after which all your day-to-day banking is free. However you only get 5 free ATM withdrawals a month. After that there's a 50 cent charge per withdrawal.
The EBS MoneyManager account has no monthly account maintenance fee and no charge for any day-to-day banking. There is also no minimum monthly lodgement requirement.
However no overdraft facility is available with the account, there is no mobile app to help manage your banking on the go, and customers don't have access to either Google Pay or Apple Pay. There are no rewards schemes for customers to sign up to either.
EBS operates euro accounts only. This means any payments sent to your EBS account in a non-euro currency cannot be processed and will be returned.
However, if you're happy with the most basic of services, this is an account to consider and will cost you almost nothing to run.
KBC, With its Extra current account, all day-to-day banking is free if you just lodge €2,000 a month. There's also no overdraft set-up fee either and you'll receive preferential rates of interest on KBC savings accounts and mortgages. Not bad!
However KBC is a cashless bank and so doesn’t offer cash facilities. It does accept cheques, bank drafts and postal orders either by post to KBC HQ or customers can drop them in to their local KBC Hub.
Permanent TSB’s Explore Account is the only current account on the market that will actually pay you to use your card.
While there's a hefty €6 monthly account maintenance fee, all your day-to-day banking is free and you'll also earn 10 cent every time you use your debit card to pay for something in store or online. You can earn up to €5 per month through this feature alone, meaning you could offset most of the maintenance fee each month.
With that said, I looked up the typical comparison websites like , and as well as and they have all confirmed that EBS was the cheapest, for free. So naturally I had to ask, what’s the catch & who offers the best mortgage rate?
Find out in the video!
With that, let me wish you happy hunting for your Irish bank account, if you are new to the country let me extend my hundred thousand welcomes.
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