Current Bank Account Charges in Ireland

Most of the main banks in Ireland have some sort of transaction or admin charges on current accounts.  The big two banks , AIB and Bank of Ireland made over €1 Billion profit each last year – probably helped by these fees and the large amounts of cash some customers keep in their current accounts to try and avoid fees.

There are a still some banks where you can avoid some or all of these bank charges. We carried out a comparison of current bank account charges in Ireland  to help you work out which is the best bank  for you if you want to reduce the bank charges you pay.
We have included the online bank N26 – which has been available to Irish residents for more than a year now.

The figures below were checked  in November 2018..

Overview of  Bank Charges :

EBS (Moneymanager Account)
EBS don’t currently charge any admin fees or transaction fees .  This is an account with basic features – it might be ideal for people on lower incomes. (No chequebooks are issued , no overdrafts allowed and contactless payments are not available.)

N26 –  have no Admin fees on their current account – and they only charge Irish customers for Euro ATM withdrawals if you use them more than 5 times in a month. There are no fees for card spending in foreign currencies.

N26  is an “online only”  bank based in Germany that has operated in several EU countries since 2015. They now have over a  million customers and are operating on a European Passport (a banking licence granted by the German regulator and the ECB). They are covered by the German deposit guarantee scheme and are  regulated by the Central Bank of Ireland for conduct of business rules.
N26 have no branches  – so you can’t pay in cash or cheques. But you can set up Direct Debits . They don’t charge any fees for non Euro purchases using their debit card. But be careful with ATM usage – there is €2 charge for  €Euro withdrawals when you use an ATM more than 5 times in a month. (But there is only a 1.7% fee on Non Euro cash withdrawals). More on N26 Here

PTSB (Explore Account)
The  PTSB Explore current account has a €12 quarterly account maintenance fee  ( €48 a year)  but no day to day transaction fees.  But – they also offer cash rewards such as 1oc for every time you use your debit card to buy something – But this reward is capped at €5 a month. (You would have to use a debit card 40 times a month to cancel out the account charges.) They also offer cashback on payments of bills to specific companies by direct debit.  More about the PTSB Cashback Current Account here.

Ulster Bank
Ulster Bank charge  €12 per quarter maintenance fee  (€48 a year) on current accounts  –  you can avoid this fee if  you keep an account  balance of at least €3000 . Ulster Bank have no day to day transaction charges.

Admin Charges and Transaction Fees  – but they can still be avoided .
AIB  charge the following amounts for transactions on current accounts:
Automated Transactions (Direct Debit/ Standing Orders)  20c.
ATM withdrawals  35c
Machine Lodgements 35c
Cheque Processing 39c
Debit Card Transaction  20c
Over the Counter Transaction  39c
They will also charge an admin fee of €4.50 per quarter. (€18  a year)

All the above fees can be avoided at AIB by keeping a minimum of €2500 in the account at all times . Going below €2500 at any time in a quarter will result in charges being applied for the whole quarter.

Bank of Ireland –
€5 quarterly charge and transaction fees too  if you don’t meet certain criteria.

Bank of Ireland charge all current account holders an “admin”  €5 per quarter  (€20 a year) . This charge cannot be avoided.

On top of this – unless you keep at least €3000 in the account you will be charged transaction fees too. (No fees on Golden Years, Graduate, 3rd Level student or 2nd Level student current accounts)

BOI Transaction fees :-
Automated Transactions (Direct Debit/ Standing Orders)  10c.
ATM withdrawals  25c
Machine Lodgements 25c
Debit Card Transaction  10c
Contactless 1c
Internet/Phone Transaction 10c
Over the Counter Transaction  60c
Cheque Processing Fee (per cheque) 60c

KBC Extra    €6 a quarter charge  (avoidable).
Any customers who don’t lodge at least €2500 a month  will  be charged the maintenance fee and also will be charged  30c for each ATM  transaction and  30 cent per cheque lodged in the quarter. No  other transaction charges.

An Post Smart Account
This account has a €15 a quarter charge (€60 a year) PLUS other charges as follows :
Cash Withdrawal in Branch  50c (1 a month is free)
ATM withdrawals  60c
Lodgements at branch  50c
This is another account that pays rewards  – such as 5% back on all Lidl transactions of €25 and above using the debit card.

Comparison of Bank Charges  – based on the following  monthly transaction scenario:

Cheques Lodged 1
Direct Debits/ Standing Orders : 6
Debit Card Purchases (Euros) :  30
Debit Card  – 1 Non Euro Purchase €200 equivalent
ATM withdrawals  :  5
Counter transactions 2

Assuming the conditions for avoiding bank fees were not met…

  • N26 would charge € zero  (But you wouldn’t be able to do any counter transactions or cheque lodgements with N26)
  • EBS would charge €6 for the non euro purchases (€24 a year)
  • PTSB would charge €13.50 for the quarter (€54 a year) (10c cashback on debit card purchases included)
  • KBC would charge €21.90 for the quarter (€87.60 a year)
  • Ulster Bank would charge €24 for the quarter. (€96 a year)
  • BOI charges would be  €36.95 per quarter (€147.80 a year
  • An Post would charge €43.50 per quarter.(€174 a year)
  • AIB would charge the most – at €45.36 a quarter (€181.44 a year)

n26 bank ireland

Comparison of banks quarterly current account fees IF the balance is kept above the  relevant  limit.
(Not including Non Euro Purchases)


N26   –  no charge .(No special conditions to obtain fee free banking)

EBS   No charge (No conditions)

AIB (Min €2500 balance) : Fee  – Zero

KBC (lodge min €2500 a month)  Zero

Ulster Bank (Min €3000 balance)  :  Zero

An Post:   fees cannot be avoided by keeping a certain amount in the account. They would charge €25.50 per quarter for the above transactions. – But there is the chance of cashback if you shop at Lidl or use SSE for energy. But you would need to spend €800 a quarter at Lidl to get enough cashback to cover the fees.

PTSB  €3  per quarter (Balance level not applicable)  Could be lower if you pay bills for  SSE or Sky by Direct Debit

BOI (min €3000 balance)  : Still charge a fee of  €5 per quarter .


So  it is still possible to get free banking at EBS  all the time.
With N26  you will only pay a charge if you use an ATM more than 5 times a month … (so just spend with the debit card instead. Who uses cash these days ? 🙂
Tip: You could have an account at each bank (EBS and N26)   if you want – and use the N26 card to get the Apple Pay and contactless features and free non euro purchases while using the EBS account for the standard stuff.

At  PTSB , AIB , KBC and Ulster Bank  – you can also avoid fees –  but only if you can manage to lodge a certain amount or keep your account balance above their limits . (or spend with your debit card over 40 times a month at PTSB.)

Be careful with AIB because a fall in your balance to just  €2499 for just one day could end up costing you over €50 for one  quarter. (based on sample transactions above).

1) Keeping €3000 in an account just to avoid fees – means you could be losing out on possible interest of about €25 euro a year after DIRT .  So bear that in mind when working out fees.

2)  There is nothing to stop you withdrawing money and re-lodging it  to comply with a bank’s minimum lodgement rules.

3) If you need cash – use cashback when available in shops when paying with debit cards instead of using ATMs to reduce transaction fees . (Not relevant for PTSB Explore customers who should use their debit card as much as possible.)

Note:  There is also a government stamp duty of 12c per ATM cash withdrawal.   This charge is capped at €2.50 a year if you only use your debit card for ATM transactions and capped at €5 a year if you use your debit card for both purchases and ATM transactions. Government Stamp Duty charge on debit cards is applied in January each year.


More here about ATM Cashpoint Charges in Ireland

Also – Irish Bank Charges on Card Spending in Non Euro Currencies

See our Comparison of Business Bank Account Charges here

More information on Apple Pay availability in Ireland

More Money Saving Tips