An Post current account review
The An Post Money Current Account helps you manage your finances and save.
If you are looking for a new current account that helps you manage your money, the An Post Money Current Account is worth considering.
Read on to find out how this account works so you can decide if it’s the right choice for your financial needs.
€5
Maintenance fee
€0.60
ATM fee
3%
Foreign transaction fee
Details
| Product Name | An Post Current Account |
|---|---|
| Fee period | Monthly |
| Maintenance fee | €5 |
| Account Type | Current accounts |
| Online account only | No |
| Supported currencies | 1 |
| More Info |
An Post is Ireland’s state-owned postal service company with close to 1,000 post offices around the Republic of Ireland. Aside from its universal postal services, An Post provides insurance and money products such as bank accounts, credit cards and foreign currency. Here we take a closer look at its current account.
How does the An Post Money Current Account work?
The An Post Money Current Account works like any other current account you can find at traditional banks, but with a few differences.
It enables you to take control of your spending and savings thanks to 2 wallets that you can use to set aside money, and you can earn money back each month for transactions with An Post’s partners.
With the ability to separate money from your main account for better budgeting and earn some extra cash, this account has been praised by consumer advocates and is classed as a gamechanger among current accounts in Ireland.
Key features
Here are some of the key features of the An Post Money Current Account:
- Mastercard debit card. With a Mastercard debit card, you have the freedom to use your account all around the world at ATMs, stores and for online purchases. You can also make contactless payments making shopping that little bit faster.
- Jars and Wallets. Enjoy 2 handy saving wallets from logging into your account online and create up to 10 separate jars from the app. You can transfer money to these and have better control of your finances. You could use one wallet for savings towards a holiday and the other for your rent and utility bill money, for instance. You can set up regular transfers from your main account and even have direct debits set up to be paid directly from a wallet.
- Save your change. You’ll be able to save small amounts of money with the An Post “Round Up” function, which rounds up your spending to the nearest euro and pays it right into one of your savings jars.
- Account alerts. Each time there is a transaction on your account you can receive an alert either by SMS, email or online. You can choose what kind of transactions you wanted to be notified about, such as when you get a credit, a direct debit goes out or if a payment has failed.
- Emergency cash. If your card is lost or stolen, you can stop in at any post office during opening hours and get up to €200 emergency cash as long as your account has credit to this amount.
- Different ways to access your money. You can access your account either online, at an ATM or by visiting one of over 900 post offices across Ireland.
- Use the app. Manage your finances from the palm of your hand by downloading the free An Post Money Current Account app.
- Google PayYou’ll be able to use Google Pay, Apple Pay and FitBit Pay to make payments from your An Post Money Current Account.
Fees and rates
Some accounts’ fee structures can be complicated, but the An Post Money Current Account keeps things simple. While there’s one monthly fee that covers most of your daily transactions, there are also these fees and charges to be aware of:
- Monthly maintenance fee: €5
- ATM withdrawal fee: €0.60 per withdrawal
- Daily ATM withdrawal limit in Ireland: €600
- Post office cash withdrawals fee: 1 free cash withdrawal each week then €0.50 per withdrawal thereafter
- Daily Post office withdrawal limit in Ireland: €3,000
- Contactless payments fee: Free
- Mini and quarterly statement fee: Free
- SEPA credit transfer and direct debit: Free
- ATM withdrawal outside of the eurozone fee: €0.90 plus 3% of transaction value per withdrawal
- Overseas card purchase fee: 3% of the transaction value per payment
- Unpaid cheques charge: €5
- Deposit of cash or cheques at Post Office: €0.50 per deposit
- Duplicate statement fee: €5
Verdict
An Post’s current account offering is useful with its two mini handy savings wallets and “round up” function for extra saving. And the An Post app is quick and easy to download and useful for managing your money on the go as you can set up alerts for most transactions and keep track of any payments that might have failed.
All in all, the An Post Money Current Account is worth considering to see if it meets your financial needs.
How to sign up for the An Post Money Current Account
Applying for the An Post Money Current Account is a simple process. You can do it by visiting a local post office or via the An Post Money app. Here’s a step-by-step guide below:
Step 1: Download the An Post app from Google Play or the Apple Store.
Step 2: Choose the option “I’d like to apply for an account”. You’ll need the following documents to hand:
- Proof of name – valid passport or EU driving licence
- Proof of address – recent bank statement or utility bill
- Proof of identity – a selfie
Step 3: Enter your personal details such as name, mobile number and email address. You’ll also have the option of entering in a promo code if you have one.
Step 4: Provide other details such as your date of birth, country of birth, Eircode and your mother’s maiden name.
Step 5: Next, you’ll need to take photographs of your documents as well as a selfie.
Step 6: After this, provide details of your employment status and the amount of money you plan to deposit every year.
Step 7: Read and accept the terms and conditions if you’re happy to proceed to complete your application.
Step 8: You’ll receive an application reference number while your application is processed.
Step 9: You should receive an email within one business day and then follow the instructions to activate your app and account.
Step 10: Once your new account is open, you’ll receive a debit card in the post, which you’ll need to activate before using it.