Your guide to the best banks in Ireland

Looking to open a bank account in Ireland? Finding the best bank for you can feel a bit like searching for the holy grail, especially if you're new to the country (we're looking at you, expats and travellers).

That's why we've created this quick guide with a rundown of some popular banks in Ireland. In this article, you'll discover what to look for in a bank and how to compare your options so you can make an informed decision.

Irish banking — a quick run-through

Before we dive into the specifics, let's take a moment to understand the Irish banking system. Ireland offers both domestic and international banks that provide a wide variety of services. From traditional high-street banks to innovative online-only fintechs, there's something for you.

Types of banks in Ireland

1. Retail banks: these are the most common banks you'll find in Ireland. Think of these as your tried-and-true banking classics. They offer many different services, including current accounts, savings accounts, loans, mortgages, and more.

2. Online banks: these are digital-only banks that operate exclusively via their website or mobile app. Many Irish customers are turning to online-only banks these days, and it's easy to see why — they offer convenience, 24/7 access, and competitive rates. If you're tech-savvy and you're looking for flexibility, these could be an option for you.

3. International banks: these banks are designed specially for expats, multinational corporations, and frequent travellers who manage their money across different countries. They often offer multi-currency accounts, competitive exchange rates, and easy international money transfers.

   
   

Top Irish banks — cue the showdown

Now that you've got a better understanding of the types of banks available, let's explore some of the most popular options in Ireland.

Revolut

Revolut burst onto the Irish banking scene with an innovative approach, providing a tech-driven alternative to traditional banks. It's become wildly popular, with over 2.7 million customers in Ireland alone.

Revolut Bank UAB is authorised and regulated by the Bank of Lithuania in the Republic of Lithuania and by the European Central Bank. It's also regulated by the Central Bank of Ireland for conduct of business rules.

With an app-based approach to banking, it offers tonnes of features designed to simplify money management and empower you with greater control over your accounts.

Key features:

• Multi-currency accounts: Revolut's multi-currency accounts won the 2024 Bonkers.ie Award for Best Current Account in March 2024, and for good reason. They allow you to receive, keep, and exchange 35+ currencies, which is especially convenient if you're travelling often or living abroad. Since you get a local Irish IBAN, it's also easy to manage your payments at home. You can have your salary paid directly into your account set up direct debits for recurring bills.
• Instant Access Savings: Revolut recently launched a new savings option with competitive interest rates from 2% to 3.49% Annual Equivalent Rate (AER) variable interest¹, paid daily. You can withdraw your money at any time without penalties and round up your card payments so that the difference automatically goes to your savings.
• Credit cards with cashback: you get 1% cashback for the first 3 months, and then 0.1% after that², all while you make repayments flexibly.
• Instant payments and low-fee international transfers: you can transfer money in 35+ currencies to other Revolut customers without any transfer fees and in an average of 20 seconds. You can also send low-fee bank transfers and card transfers to 160+ supported countries in 70+ currencies — Revolut will automatically handle the exchange for you.
• Budgeting and analytics tools: Revolut gives you powerful and easy-to-use budgeting tools, allowing you to track your spending habits, set financial goals, and receive reports on your spending. With detailed categories and charts, you can make informed decisions to meet your money goals.

Allied Irish Banks (AIB)

AIB is one of the largest retail banks in Ireland that serves millions of customers all over the country. It offers many different banking services, including current accounts, savings accounts, mortgages, loans, credit cards, and insurance.

Key features:

• Branch network: AIB has an extensive network of branches and ATMs across Ireland. This makes it convenient for you to access your account and make transactions in person.
• Digital banking: it offers online and mobile banking services, so you can manage your account, pay bills, transfer money, and check balances from anywhere, at any time.
• Personalised service: AIB provides personalised customer service. Their staff is available to help you with your banking needs and financial goals.

Bank of Ireland

Bank of Ireland is one of the oldest and most established banks in Ireland, with a history dating back over 200 years. It offers a complete range of banking services, including current accounts, savings accounts, mortgages, loans, investments, and insurance.

Key features:

• Innovative digital solutions: Bank of Ireland offers cutting-edge digital banking options, including online banking, mobile banking, and contactless payments. This gives you convenient and secure access to your account.
• Business banking expertise: they have a dedicated team of business banking specialists who can provide tailored financial solutions and advice to entrepreneurs, SMEs, and corporate clients. This will come in handy if you're starting a business in Ireland.
• Community engagement: the bank is actively involved in supporting local communities through various initiatives, including sponsorship programmes, charitable donations, and community outreach projects.

Permanent TSB

Permanent TSB is another leading retail bank in Ireland. It specialises in mortgage lending, savings products, and personal loans.

Key features:

• Mortgage expertise: Permanent TSB has a strong reputation for mortgage lending, with flexible mortgage options and competitive interest rates for first-time buyers, home movers, and investors. This is one to look into if you're looking to buy your first home.
• Savings and investments: they offer a variety of savings and investment options, including regular savings accounts, fixed-term deposits, and investment funds.
• Financial planning services: they provide personalised financial planning services to help you achieve your long-term financial goals, including retirement planning, education savings, and wealth management.

KBC Bank Ireland

KBC Bank Ireland is known for its innovative approach to banking, with a focus on digital and mobile services. It offers many banking options, including current accounts, savings accounts, mortgages, loans, and insurance products.

Key features:

• Award-winning mobile app: KBC Bank Ireland's mobile banking app has won several awards for its user-friendly interface and innovative features, allowing you to manage your account, make payments, and track spending on the go.
• Competitive rates: they offer competitive interest rates on savings accounts and mortgages, as well as attractive loan rates for personal loans and car finance.
• Cashback rewards: they reward you with cashback on eligible purchases made using credit cards, which provides an added incentive.

Ulster Bank

Ulster Bank is another leading retail bank in Ireland. It's known for its commitment to customer service and community engagement.

Key features:

• Flexible current accounts: they offer a range of current accounts to suit different needs, including basic banking, student accounts, and premium accounts with added benefits such as travel insurance and cashback rewards.
• Mortgage options: Ulster Bank provides a variety of mortgage options, including fixed-rate mortgages, tracker mortgages, and buy-to-let mortgages.
• Business banking support: they have a dedicated team of business banking specialists who can provide tailored financial solutions and advice to SMEs, corporate clients, and agri-businesses.

Danske Bank

Danske Bank is an international bank with a strong presence in Ireland. It's known for its commitment to innovation, customer service, and responsible banking practices.

Key features:

• Personal and business banking solutions: Danske Bank offers a range of personal and business banking solutions, including current accounts, savings accounts, loans, mortgages, and investment products.
• Digital banking solutions: they provide innovative digital banking options, including online banking, mobile banking, and contactless payments.
• Financial advice: Danske Bank has a team of financial advisors who can provide personalised financial advice and guidance to help you achieve your financial goals, whether it's saving for a home, planning for retirement, or investing for the future.

EBS d.a.c.

EBS d.a.c., part of the Allied Irish Banks (AIB) Group, specialises in savings and mortgage products. It stands out for providing competitive rates and personalised service.

Key features:

• Competitive mortgage rates: EBS offers competitive mortgage rates with flexible repayment options, including fixed-rate mortgages, variable-rate mortgages, and tracker mortgages.
• Savings accounts: they provide a range of savings accounts, including regular savings accounts, fixed-term deposits, and instant-access savings accounts.
• Customer service: EBS is committed to providing personalised customer service to help you with your banking needs and answer any questions you may have.

What makes a bank the best?

So, you have some basic info about the most popular banks in Ireland. Now what? How do you even begin to choose the best bank for you?

Here are some practical steps that'll set you off in the right direction:

1. Identify your banking needs: consider what you need from a bank. Are you looking for a basic current account, a high-interest savings account, a mortgage, or investment services? Make a list of the banking products and services that are essential to you.

2. Evaluate your preferences: think about what features are important to you in a bank. Do you prefer in-person banking with a branch network, or are you comfortable with online and mobile banking? Consider factors such as customer service, convenience, fees, and digital features.

3. Research bank options: look into different banks and financial institutions that offer the products and services you need. Aim for banks with a strong reputation, good customer reviews, and a history of financial stability. Consider both traditional banks and online-only banks.

4. Compare account features and fees: compare the features, benefits, and fees associated with different bank accounts. Look at factors such as account maintenance fees, ATM fees, interest rates, minimum balance requirements, and additional perks or rewards.

5. Assess accessibility and convenience: consider the accessibility of the bank's services, including the availability of branches, ATMs, and online banking platforms. Choose a bank that offers convenient access to your money and account management tools, considering your lifestyle and location.

6. Check customer service quality: evaluate the quality of customer service provided by each bank. Look for banks with responsive customer support, helpful staff, and multiple channels for assistance. Consider reaching out to each bank's customer service to ask questions and gauge their responsiveness.

7. Consider specialised services: if you have specific financial needs or preferences, such as international banking, business banking, or specialised investment services, look for banks that offer these services and expertise.

8. Review terms and conditions: read the terms and conditions for each account carefully to understand any limitations, restrictions, or special conditions. Pay attention to factors such as transaction limits, overdraft policies, and account closure fees.

9. Look for recommendations and reviews: ask friends, family members, or financial advisors for recommendations based on their experiences. Additionally, read online reviews and testimonials to get insights into other customers' experiences with the banks you're considering.

10. Take your time: weigh your options carefully and make an informed decision. Consider opening accounts with multiple banks if that suits your needs. You might want to have a current account with one bank and a savings account with another.

    
    

The best banks in Ireland at a glance

We get it — finding the best bank for you takes a lot of research. That's why we've tried to take some of the load off you with this quick breakdown. Let's circle back to our list of top banks above and look at the specifics. Use this table as a springboard to explore what's out there, get some clarity on what you're looking for in a bank, and narrow down your choices.

Looking for an online bank in Ireland?

Sometimes you just need something that's a bit more flexible, a bit more tailored to you. Why not try Revolut?

Revolut Bank UAB is authorised and regulated by the Bank of Lithuania in the Republic of Lithuania and by the European Central Bank. It's also regulated by the Central Bank of Ireland for conduct of business rules.

You get a local Irish IBAN, so you can easily get your salary paid directly into your Revolut account and pay your bills with direct debits. You can also keep 35+ supported currencies in your account and manage your money seamlessly across countries — all in one app.

24/7 support, budgeting tools, savings, loans, cashback... it's all at your fingertips.

Want to give it a go? Download our app and open an account.

References:

• Allied Irish Banks
• Bank of Ireland
• Permanent TSB
• KBC Bank Ireland
• Ulster Bank
• Danske Bank
• EBS d.a.c.

¹Gross interest rate is variable, and your returns may vary depending on your plan. Instant Access Savings T&Cs, Deposit Information Sheet, and Deposit Insurance Information apply. The maximum eligible deposit amount is €100,000.
²Cashback is available for all transactions in the EU and US. It doesn't apply to cash payments or bank transfers.