Bank of Ireland Current Accounts review
Learn about the different types of Bank of Ireland current accounts, with options for all ages and stages of life.
When you’re looking for a new current account, we recommend comparing options to find the right one to suit your financial situation and spending habits.
The Bank of Ireland has current accounts for different stages of life with features like cash back rewards and overdrafts, so read on to find out more.
Foreign transaction fee
Bank of Ireland is one of Ireland’s Big Four banks, offering the full range of personal and business banking services. Here’s our guide to the various Bank of Ireland current accounts, and how to pick the best one for you.
A bit about Bank of Ireland
Founded in 1783, Bank of Ireland offers a full suite of personal and business banking products to its customers. Regulated by the Central Bank of Ireland, the bank is run by the Bank of Ireland Group, one of Ireland’s largest financial services groups. Its headquarters are located in Dublin.
Key features of Bank of Ireland current accounts
- Visa debit card. With a Visa debit card with contactless payments, you can make purchases by tapping your card on the reader both at home and abroad. You can also use your card to make purchases online.
- Overdraft facility. Some of Bank of Ireland’s current accounts allow you to add an overdraft of an agreed amount for a little extra help between paydays.
- Pay bills quickly and easily. Use your account to pay utility bills by direct debit.
- Different ways to bank. Manage and access your money in different ways. Bank of Ireland has branches nationwide plus you can use online, mobile or phone banking.
- Mobile top-up. Use your online banking to top up your mobile phone balance.
- Savings accounts. Access to exclusive savings accounts that you can open online in minutes.
What current accounts does the Bank of Ireland offer?
Fees and limits
Bank of Ireland’s Personal current account comes with a €6 monthly maintenance flat fee, while its other current accounts are free. There are some charges that still apply:
- Contactless payments: Free
- Automated transactions: Free (chip and pin purchases, direct debits and electronic transfers)
- Paper or staff-assisted transactions: Free (cash and cheque withdrawals, cash and cheque lodgements, bank draft lodgements and withdrawals)
- Debit card purchases in foreign currency: 2% of the purchase amount (Max €11.43)
- ATM withdrawals in foreign currency: 3.5% of withdrawal amount (Min €3.17 – Max €11.43 per transaction)
- Overdraft facility set up: €30
- Overdraft facility renewal: €30
Is there a way to avoid fees?
Not really, as Bank of Ireland has already done away with everyday transactional fees in place of its monthly €6 flat fee.
Bank of Ireland current accounts allow you to flexibly and easily manage your money whatever your stage of life, and with perks like cashback rewards, they are definitely worth considering. But given that you’ll be charged a flat monthly maintenance fee of €6, use our table to compare other current accounts available in Ireland to weigh up whether you could still get a better deal elsewhere.
How to sign up for a Bank of Ireland current account
To open a current account at Bank of Ireland, you need to be a resident of the Republic of Ireland and qualify for any age, studying or graduation requirements.
You can apply online, by phone, or at your local branch, but you must have identification and proof of address documents. It shouldn’t take more than 10 minutes.
Step 1. Visit the Current Accounts section on the Bank of Ireland website
Step 2. Select which current account you wish to open and click “Apply Now”.
Step 3. Choose whether you are applying for an individual or joint current account.
Step 4. Complete and submit the online application form.
Step 5. You should receive an email with a link where you can upload your two forms of identification. This could be your driver’s licence and passport, or one of these plus a selfie holding your form of identification.
Step 6. Once verified, your account is open.