Head of International Corporate Law and Fintech Practice
Expert in fintech, crypto, and international corporate law with over 20 years of experience. Specializes in crypto licensing (VASP/CASP), iGaming business support, and international structuring, asset protection, and OSINT analytics for risk assessment and due diligence.
Opening a bank account in Ireland
Opening a bank account in Ireland is a necessary step for anyone planning to work, study or live in the country. The process is simple, but requires proper preparation of documents and understanding of the requirements of banks. This is especially important for foreigners and Ukrainian citizens who have specific capabilities and often face peculiarities during verification.
Account type: choose the appropriate option
There are several types of accounts available for individuals in Ireland. A Current Account is for everyday transactions – receiving wages, paying bills and making purchases. This is the most popular choice for newcomers. A Savings Account allows you to save money with interest – some banks, such as Bunq, offer up to 1.56% per annum. Student accounts are available for international students and are often required to prove your financial capacity to study.
Depending on your needs, each bank will offer the best account. Branch advisors will help you decide if you are unsure.
Mainstream banks and neobanks: comparing options
Ireland offers a wide range of both traditional and online banking. Traditional banks have physical branches across the country and offer a full range of services. AIB (Allied Irish Banks) is one of the largest, with over 170 branches and the ability to open an account online via a mobile app. Bank of Ireland is the oldest and most trusted bank, but it does not offer account opening exclusively online. Permanent TSB is available to a wide range of customers, including foreigners, with a developed ATM network. EBS and KBC Bank Ireland also have their customers, although KBC is gradually withdrawing from the Irish market.
Online banks (neobanks) such as Revolut, Bunq and N26 are gaining popularity among foreigners and travelers. They offer minimal fees, cheap international transfers, multi-currency accounts and the ability to obtain an Irish IBAN. This is a great option for those who plan to manage their finances mainly via their smartphone.
Document requirements: what do I need to prepare?
Two types of documents are required to open a bank account: proof of identity and proof of address.
- Proof of identity documents include a valid passport or EU travel document. If you do not have a passport, the bank will accept a Temporary Protection Certificate (TRC), an Irish Residence Permit (IRP) or a letter of refugee status from the Irish Ministry of Justice. For Ukrainians, the option of using a Ukrainian travel document is also available.
- Proof of address must be issued no more than 6 months ago. Standard options include utility bills (gas, electricity) for the last 6 months, bank statements, tax subsidy determination notices or letters from government agencies. For people in Temporary Accommodation Centres (EROC) or on social assistance, letters from these agencies on official paper confirming address and status are accepted. If you live with the account holder at the same bank, ask them to write a letter containing their name, address, signature and date, as well as confirmation that they are providing you with accommodation.
Important: All documents must match – the name on the ID card must match the name on the document proving your address.
Account opening methods: online and in person
The online method via a mobile app is available from AIB banks and other institutions. This process is the fastest and most convenient:
- Download the bank’s mobile app (for example, AIB Mobile Banking) from the App Store or Google Play.
- Click on the option “become a customer” or “open an account”.
- Enter your personal details and email address.
- Activate a video call with a bank agent to verify your identity (this will take a few minutes).
- Present your passport during the video call so that the agent can compare your photo.
- Confirm your residential address – the bank will send a written activation code to the specified address.
- Enter the code received in the app to complete registration.
The debit card will arrive by mail within a few days. The account is ready to use online while you wait for the card.
The in-person method involves visiting a bank branch. This option takes longer, but helps with non-standard documents:
- Make an appointment via the bank’s website, by phone or in person.
- Bring as many documents as possible to prove your identity and address.
- The staff will help you fill out the application form.
- Submit the application form and all the necessary documents.
- The bank will notify you of the result within a few days.
- Professionals recommend making an appointment in advance to avoid long waits.
Protecting your deposits: bank guarantees
All bank accounts in Ireland are protected by the Deposit Guarantee Scheme up to €100,000 per customer in one bank in the event of bankruptcy. This ensures the safety of your savings. In addition, all banks use two-factor authentication, fraud detection systems and data encryption in mobile applications.
Important tips for successful account opening
Bring all available documents, even if some of them are outdated or are alternative options – banks often accept non-standard documents and review them with the staff. Make sure that the name on all documents is spelled consistently.
Different banks have different requirements, so contact your chosen institution in advance and ask for an up-to-date list of acceptable documents. Bank websites usually have detailed information about the process.
If you have any difficulties opening an account or need legal advice on financial services and banking law in Ireland, you can contact professional specialists. The law firm “Prykhodko and Partners” provides a wide range of services in migration law, business consulting and international support. The company, founded in 2017 by attorney Andriy Prikhodko (Doctor of Law, Managing Partner), brings together more than 70 specialists in various areas of law.
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