Full list of fees for every Irish bank as thousands begin to switch from Ulster Bank to KBC
Thousands of Irish bank account holders are looking to switch branches as Ulster Bank and KBC prepare to leave Ireland in the coming months.
Consumers have been warned of potential delays as a number of businesses face staff shortages and an influx of applicants.
The only benefit of having to switch banks is being able to pick the right bank for you, with the least amount of sneaky fees.
READ MORE:Bank of Ireland issues warning as fraudsters take advantage of Ulster Bank and KBC customer account switching
Every Irish bank account is subject to a number of automatic charges, and some are less well known than others.
Each provider has a different set of rates, so if you’re looking to pick the cheapest option in the middle of your bank switch, here’s every charge as of May 18, 2022.
Permanent TSB, Explorer account
According to Ireland money guidethe PTSB Explore account is a great choice but has a quarterly maintenance fee of €18.
On the bright side, they have no overnight transaction fees.
According to experts, “The account also offers cash rewards such as 10c for every time you use your debit card.
“This reward is capped at €5 per month. (You will need to use the debit card 50 times per month to get the maximum €5 cashback.)”
PTSB also offers cash back on bill payments to a number of listed companies via direct debit.
EBS, Moneymanager account
EBS currently has no current bank account fees, however, the Moneymanager account has very basic functionality.
Checkbooks are not issued and overdrafts are not allowed, meanwhile there is no option for Apple Pay or Google Pay.
Bank of Ireland
Bank of Ireland current accounts currently have a flat fee of €6 per month, which equates to €72 per year.
There is no way to avoid these fees, they are charged to all account holders unless you are one of the following:
- Holder of a Golden Years account or
- Graduate, 3rd level student or
- 2nd degree student current accounts
Allied Irish Bank
AIB charges an administrative fee of €4.50 per quarter as well as transaction fees.
AIB also charges the following fees for transactions:
- Automated transactions (direct debits/standing orders) 20c.
- Internet or Telephone transaction 20c
- ATM withdrawals 35c
- 35c machinery slots
- Processing 39c checks
- 20c debit card transaction
- OTC transaction 39c
Revolut now operates as a fully licensed bank in Ireland, but on the Standard Revolut Account there are no monthly charges.
The first 5 ATM withdrawals per month or the first €200 per month are FREE. After that, there is a 2% charge. (Minimum €1).
When spending in currencies other than Euros, the first €1,000 per month is free, after which there is a 0.5% fee.
With Revolut, you can’t pay with cash or check, but you can set up direct debits.
Another new feature available to Irish account holders is loan approvals.
N26 has no administration charges on its current accounts and the only transaction charges are for withdrawals from Irish ATMs.
If you use them more than 3 times a month, there is an additional €2 each time.
There are no fees with N26 for foreign currency card spend.
A physical debit card will cost €10 to send – but you can skip it if you’re going to use Apple Pay or Google Pay etc.
It is an “online only” bank with a full EU banking license and is also regulated by the Central Bank of Ireland for the conduct of business rules in Ireland
There are no N26 branches – so you can’t pay cash or check, but you can set up direct debits. No overdrafts.
It only charges a 1.7% fee on non-euro cash withdrawals.
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