Current Bank Account Charges and Fees in Ireland

Latest : See our Comparison of  Bank Charges in Ireland   with all the latest account charges compared.


Ulster Bank introduced bank charges on personal current accounts in July 1st 2013  and they  now charge  a €4 monthly  “maintenance charge”.  This charge will be waived if  customers maintain a balance of more than €3000 over the whole month.

PTSB  .  Since June 2016 new PTSB customers get a current account  called “Explore” which has a €4 per month charge but customers can get cashback for certain transactions – which in some cases could be more than the admin fee.

KBC have a current account which  has a €6 quarterly charge plus other charges if the balance falls below €2000. (ATM 30c; Cheque Lodgement 30c )

Bank of Ireland :   Since  August  2013 most BOI current account customers are charged  €5 per quarter. (exclusions for pensioners and students)  . Transaction fees are also charged on top of this €5 maintenance fee – but these can  be avoided if €3000 is kept in the account .

AIB :    a balance of at least €2500 is required at all times to qualify for free banking at AIB.  If you don’t qualify for free banking with AIB – you will be charged €4.50 a quarter (admin) plus charges  for most  transactions. (Pensioners get exemptions).


One possible way to avoid some bank charges   would be to get an extra current account from online bank N26 . They have no fees on debit card spending here or anywhere in the Eurozone.

N26 are based in Germany but operate in many EU countries. Any money lodged with them is protected by the German bank guarantee. (Max €100k). It is an online operated account – and you will get the best use of it if you have a smartphone. You can’t go overdrawn (which is probably a good thing !)
You can transfer money from your main “account ” and use the N26 account for spending with no transaction charges . You can set up direct debits on N26 too – (there are a few Irish companies that don’t seem to accept DDs from N26 – but they are at fault, not N26)

Having a second account with a couple of hundred euro is safer than cash under a mattress and could come in handy if your”main”  bank has IT problems . (As has happened with some Irish banks in the past).


In the UK- bank transaction charges are rare.  Unlike it’s Irish current account customers – Bank of Ireland’s current account customers in the UK have fee free banking without any extra conditions – as long as they stay in credit!

AIB also operate current accounts in the UK – and they do not charge any day to day transaction fees or monthly admin fees. They only charge fees when an account is overdrawn .

The banks in Ireland have less competition  – with AIB and BOI having a large proportion of all the current accounts. So they know that they can get away with charging their Irish customers . Maybe more people should complain and switch to a bank that does not charge fees.

Read   our Comparison of  Bank Charges in Ireland

27 thoughts on “Current Bank Account Charges and Fees in Ireland

  1. John – thanks for that information about PTSB
    They did introduce fees for new customers in September 2010 . Prior to that they offered fee free banking since 2003 – but didn’t you have to maintain an average balance of €1000 in your account ?

  2. The AIB offer a completely free current account to anyone over age 70. This does not seem to be advertised so ask at any branch.

  3. Yes, I agree, their new charges are nothing short of extortion.
    A basic quaterly fee of 5euro on their new 24/7 account, but and its a big but! They are going to charge per transaction/standing orders/direct debits/ATM etc, 25c per transaction. Over time this will really add up. Easy plus is 18.75 per quarter with almost all other transactions free!!!
    Considering the public do almost all their work for them now through e-banking, it is a real slap in the face! What ever happened to customer service? and rewarding those who remain in credit? No, that would be too much to ask, we are now being asked to PAY for doing our own banking!! Scandelous I would say.

  4. I currently have a Santander bank account in the UK. Will I be able to continue using it in Eire? It is an online account

    • If you tell them you are moving they will probably let you use it as long as there is some activity on it. Don’t close it down unless you have to. You will still need an account in Ireland as well.

  5. Niall,

    I got my first 1/4 bill today also, AIB, the minute it went 1 cent below 2,500 I got stung with 33.40. Am going with PTSB, 12 euro a quarter if you don’t comply with conditions isn’t too bad.. Was contemplating UB but decided it’s too risky with all their monkey business lately…

    Am hoping PTSB won’t be ringing me every minute trying to sell me things over the phone like AIB,

    Good luck!!!

    Trisha

  6. It is outrageous that AIB have introduced these charges. The banks are mostly (I am being generious) to blame for the current economic suitation and instead of trying to help people during these hard times they actually bring in charges to hinder people further. I, as would many other people do not have €2,500 or anywhere near that resting in my account at any time. As the banks are aware that many people won’t qualify they know the charges are going to be guarnteed income for them. I got my first bill last week €30 for taking out cash from the ATM and checking my internet banking. Plus the admin fee, so it is looking to be around €120 for the year, I thought the Debit card charge was bad enough ! I am going to change to PTSB as €48 a year seems the best option out there. Although I am sure they will follow suit and eventually bring in the changes per transaction. Just as you think things cannot get any worse !

  7. I am AIB’s customer for years but with the new fees policy, as many others I guess it’s time for a change.
    Does anyone know, is the Ulster Bank charging for standard online international transfers? As AIB doesn’t (except the usual 0.20 transaction fee).
    Thanks

  8. Ulster Bank have promised no fees until at least July 2013 – so it’s a possible saving of about €100 .

  9. I am shocked and disgusted at AIB. After nearly 20 years as a customer, I am now considering moving elsewhere. They won’t even take into account if you have any sort of savings accounts with them at all. If you happen to go below the €2500 at 3.30pm one day by just 10euro and forget to lodge money in to bring you balance back up, they will charge you fees not just for that day but for the whole quarter. I think that is very unfair.

    What about Permanent TSB? I know their criteria is much more manageable. Does anyone know if they are about to change soon.

  10. Hi All
    I had suspected that these charges would be enormous. I think people should move and there is power in numbers. It is crazy what the banks are doing crippling people.

    I have a few questions. Is it safe to bank with Ulster bank taking in all the problems they had during the year? and Could it happen that the bank will close suddenly and money would be lost? I would perfer to mover to Ulster and had planned to mover before the banking problems earlier this year.

  11. Was just on the phone with BOI, didnt eve know the conditions changed. Going to Ulster for a chat tomorrow, not even for the sake of the savings, in all fairness, the minimum number of transfers online was doing me headache (used to joggle money between BOI and AIB accounts, just to get free banking), its just for the sake of argument. Its the banks that make big money by just holding our money, and when they messed up, they got more money, that we have to work for now! Extra taxes, extra charges…Its like, a common person getting attacked -that’s bad, but take a bad ass gangster getting shot -its a kind of workplace hazard. Live by the sword… I work in an office -I get to sleep at nights, take a taxi driver -sleepless nights, internal clock broken, but that’s the job he picked, right? Now, I work a normal job, I don’t expect sudden bursts of income, unlike a banker or a stock broker -they are up for quick gains, and when they do get it, it’s not like they would knock me or you a few bobs. The danger of their line of work is, they can also loose, it comes with the job. Well, they lost, big time. Gambled on all the wrong horses… and when they did -my taxes increased. Your taxes increased. Did I get a massive bonus when the economy was booming? Did you get one? The big fish, when they got it, did they share? Yet when they lost it, we have to cover for it. We loose our savings, loose our houses, cars and other comforts. They are all still well off. Run them all!!!

  12. I am very unhappy with the new fees introduced by AIB without any notice. I will be shopping for a new bank for all my saving account because it happens that my interests in the mortgage went UP and my savings account interest WENT DOWN. If interests go UP THEY should go up for both mortgage and saving right? this and the fees AIB and BOI are just looking around to steal as much money as they can

  13. I have been with AIB for the last 20 years. In the last 6 months I have been charged €100 in fees as I do all my banking online. Who has €2500 spare every month….. Oh yeah…their overpaid directors.
    I’ve just changed to Ulster Bank. You can apply online. Took 10 minutes.
    If every AIB customer moved, the bank wouldn’t be a bank anymore.
    However, as a society we are very apathetic. We will whinge and moan and then….do nothing.

    COME ON EVERYONE……DITCH THE BANK WE BAILED OUT!!!!

    • Same here, was with AIB since a kid, so much for loyalty, I got done for charges last month, my balance was below their 2,500 limit for just 2 days, yet I had to pay fees for the whole quarter, Guess its either the mattress, cookie jar or Ulster Bank for my hard earned cash.

  14. I recently received a letter from AIB stating that effective 1 June 2013 maintenance and transaction fees will apply to my account. Although a little concerned about the levels of service I will be switching my account to Ulster Bank on the 20th anniversary of opening my AIB account in May this year. 20c for every automated transaction including salary payments, direct debits, ATM withdrawals and Laset/debit card payments! Plus €4.50 quarterly fee on top of that. Daylight robbery! Good luck and good riddance to them!

  15. Has anyone ever done a comparison of banks versus credit unions (in Ireland)? It seems that few credit unions offer a current account… Why would you keep your savings in a bank? To pay fees? The interest rates are minimal.

    • The best instant access rates are around 3% – so after DIRT that works out at 2%. On 3000 Euro – that would be €60 a year or €15 a quarter. So with Ulster Bank – keeping 3000 in the account would save you €48 a year in fees but you could potentially get €60 in interest if you kept it in a deposit account.~
      A “saving” of €12 a year .

      Re Credit Unions – the few that have “current accounts ” don’t seem to have cheque books or debit cards – so they might not be a useful alternative for comparing with banks?

  16. Ulsterbank are just like the rest of them… Charging the underpaid customers who do not get paid more then 3000 a month and let the customers who can clearly afford the fees go free of charge.
    Garvan I am with you, I am planning on closing my Ulsterbank account this week but who to go with… Does anyone know anything about the online banks?

    • The next best option is PTSB – but you still have to lodge €1500 a month to get free banking.
      If you stay with ulster – you could try moving money back and forwards between a savings account and the current account. If the incoming total into the current account is €3k a month they shouldn’t charge you fees.

      • I can’t help but think that the Ulster Bank would get wise to that trick pretty sharpish. I’ve been enjoying free banking with them for the last couple of years since I moved from the AIB when they went bananas with their outrageous charges. I don’t have any savings, so can’t juggle money around, and have a low, unsteady steady income (self employed) so I guess it’s cough up time: from reading this site it seems UB still offer the best deal.

      • old cynic – the PTSB new account is similar – but they have less branches .

  17. Ulster bank have a bloody nerve after last year’s debacle, amazingly even though it caused me a huge pain the ass at the time I found I didnt qualify for their ooooh so generous compensation, so I’m off and was thinking of moving to PTSB – question – if I have the PTSB current account and meet their fee free criteria (as I fortunately do) will I get charged fees on a second account with them if I use it for saving etc???

  18. See, here’s the part where I draw a line in the sand.

    Banks screw up: we bail them out, no hope of getting the money back either. What they gonna do, write us all a check? C’mon, you’re not that naive.

    In return, what are they doing? Hiking their rates. The money they make is tiny in comparison to their targets: in fact, I’d be surprised if they even scratch the surface compared to lending.

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