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Joint accounts in Ireland

Interested in opening a joint current account? Find out if it’s the right choice for you and how to compare your options.

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Name Product Maintenance fee Fee period ATM transaction fee
VIALET Current Account
€2 + 2% per withdrawal
An IBAN account you can use to manage your money and spend in over 200 countries worldwide, fee-free.
N26 Bank Account
€2 per withdrawal
Benefit from no monthly fee, no currency conversion fees and a raft of in-app budgeting features to help you save.
Wirex Standard
2% per withdrawal

Get a Welcome Bonus of 1,000 WXT when you sign up with Wirex through Finder.

Benefit from an array of digital payment features, including a free prepaid Wirex card and unlimited fee-free transfers at interbank rates - with zero monthly subscription fee.
Wise Multicurrency Account
€0.50 + 1.75% per withdrawal
Wise (formerly TransferWise) is an international account with over 50 currencies, instant and very convenient money transfers, a card to spend in any currency, bank details to be paid in 30 different countries and multi-currency direct debits.
Revolut Standard
€1 + 2% per withdrawal
Enjoy no monthly fee, no currency conversion fees up to €1,000 per month and hold an array of currencies in your account.
AIB Student Account for 2nd Level Students
A current account for students aged between 12 and 18 years, who are in part time or full-time second level education. If you apply for a debit card, AIB will cover the annual Government Stamp Duty.

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Keeping track of bills and rent or mortgage payments each month can feel like a chore. It can also put a strain on your relationship asking your partner for their contribution towards bills. It might leave you wondering if there’s a better way to deal with your household finances. Thankfully there is. Joint current accounts are a solution worth considering for partners that want to take the stress out of money matters and be easily able to control their monthly expenses with joint responsibility.

What is a joint current account?

A joint current account is a bank account that is shared and operated by two people, usually partners that live together. Each partner has a debit card and access to internet banking, with the ability to make everyday transactions such as payments and transfers from the account. Direct debits, standing orders and loan payments can also be set up to come out of the account for various expenses shared by the partners.

While a joint current account is typically used between partners, it can also be used with a housemate, friend or a family member for different reasons. Whoever you share the account with should be someone that you can trust completely. After all, they’ll have access to the money that they put into the account as well as any money that you put into the account.

What are the benefits of a joint current account over a standard account?

The benefit of having a joint current account is that it is an easier way to manage household expenses. Both partners can lodge a certain amount each month into the account that will cover all monthly expenses such as rent or mortgage payments, utility bills, grocery shopping and even entertainment costs. It takes the hassle out of each partner having the responsibility of paying bills themselves and then working out who owes what each month. With direct debits set up and each partner having a card to access the account for in-store or online purchases, there is less time and effort involved in controlling your finances.

There are different ways that you can operate a joint current account with your partner, and how you choose to do so will depend on how you both want to manage your money. Take a look at the following scenarios for two ways on how a joint account can be used.

Scenario 1: Bob and Jill
Bob and Jill have been living together for one year but are not married. Both partners have their salary or wages paid into their own personal account, and then each month they transfer €800 into the joint current account to cover their rent and utility payments that they share equally. The money kept in their personal accounts is theirs to use as they please.
Scenario 2: Mary and John
Mary and John have been married for 20 years and all of their income goes into their joint current account. Every month they have direct debits and mortgage payments coming out of this account and they transfer a portion into their joint savings account. Both Mary and John use their joint current account for grocery shopping, entertainment and personal expenditure, as they have built a level of trust and agreement on how they spend their money together. Neither partner feels the need to hold an individual account with a separate pot of money.

What are the drawbacks of having a joint current account?

Most partners find that having a joint current account is beneficial, however, it’s important that you work together with your partner to find the best way to manage your finances and expenses.

Because both people have access to each other’s money, establishing trust and rules about what the account can be used for is important. You may find that some banks ask you to set a limit on what can be spent from the account or that both parties will need to give consent for applying an overdraft facility. Both joint account holders are responsible for any fees, charges or debts that arise from the account, and your individual credit ratings could be affected based on your partners’ financial activity.

Even though having a joint current account can make life much easier, it is also a responsibility that must be carefully discussed before making the commitment.

How do you compare joint current accounts in Ireland?

With many options available for joint current accounts in Ireland, you can compare your options by considering the following:

  • Fees. Maintenance and transaction fees vary across banks, so it’s important to consider how you plan on using your account and looking for a fee structure that will complement this. Even though a maintenance fee may seem low, the bank may charge more for other transactions that will add up over time. It may be worth choosing an account with a higher maintenance fee but no transaction fees. Some joint current accounts waive fees if you lodge a certain amount each month or are able to keep a minimum balance at all times. While this is harder to do as an individual, with two people it is much easier.
  • Perks. Depending on your lifestyle and how you use your account, you may benefit from perks associated with your current account such as deals and discounts for partner businesses or cashback on purchases and bill payments.
  • Overdraft facility. An overdraft facility can be worthwhile having in case of unexpected bills or expenses in between paydays. Extra fees are usually charged for this, so make sure you and your partner are clear on the terms in which the overdraft can be used as you are both responsible for the debt.
  • Mobile payments. Some banks give you the option of linking your joint current account with Google Pay, Apple Pay or Fitbit Pay.
  • Loan interest rates. If you are thinking about taking out a mortgage to buy a home with your partner in the future, look for a joint current account that gives preferential interest rates to its existing customers. This could end up saving you money over the term of your loan compared to what another bank can offer.

Which banks offer joint current accounts in Ireland?

There are many banks in Ireland that provide joint current accounts. Take a look at a summary of the pros and cons of each.

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