Charges on Current Bank Accounts in Ireland

The majority of the banks in Ireland now have some sort of transaction fees or admin charges on current bank accounts.

The options for current accounts in Ireland will be shrinking over the next couple of years as Ulster Bank and KBC are both pulling out of Ireland.

We have compared current bank account charges in Ireland to find out how much an average customer could be paying each year.

Bank Charges Compared

We carried out a comparison of current bank account charges in Ireland to help you decide which is the best bank for you if you want to reduce the bank fees you pay.
(We have included some charges for non-Euro debit card purchases – which is fairly common now with online shopping in the UK etc) . (See more about Non Euro Charges here).

We have included N26 , the online bank. We have not included Revolut because it is not a bank . Read More About the Revolut Card .

Summary of  Charges on Current Bank Accounts in Ireland 

The figures below were checked on April 5th 2021.


N26 have no Admin fees on their current account. The only transaction fee is on Irish ATM withdrawals if you use them more than 3 times in a month. (€2 charge a time).
There are no fees with N26 for card spending in foreign currencies.

Based in Germany, N26  is an “online-only”  bank with a full EU banking licence. Funds are covered by the German deposit guarantee scheme (up to €100,000).
N26 are 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 in cash or cheques, but you can set up Direct Debits. No overdrafts. N26 only charge 1.7% fee on Non-Euro cash withdrawals. More on N26 Here

EBS (Moneymanager Account)

EBS doesn’t currently have any charges on current bank accounts.  However, this is an account with basic features, chequebooks are not issued and overdrafts are not allowed. No Apple Pay or Google Pay.

PTSB (Explore Account)

The  PTSB Explore account has an €18 quarterly account maintenance fee but no day to day transaction charges. The account also offers cash rewards such as 10c for every time you use your debit card. This reward is capped at €5 a month.(You would need to use the debit card 50 times in a month to get the maximum €5 cashback.)
PTSB offer cashback on payments of bills to specific companies by direct debit.  More about the PTSB Cashback Current Account here.

Ulster Bank

Ulster Bank charges a €2 per month admin fee which cannot be avoided.
Plus – if the balance on the account goes below €3000 in any month they will charge transaction fees on top for that month as follows:

ATM withdrawals  35c
Cheque Processing 80c
Debit Card Transaction  20c
Contactless 1c
Over the Counter and in-branch Machine Transactions  80c
Automated Transactions (Internet/ Direct Debit/ Standing Orders)  20c.

Ulster Bank will be pulling out of Ireland in the near future.

Allied Irish Bank

AIB charges Admin Charges and Transaction Fees .
The admin fee is €4.50 per quarter. (€18  a year).

AIB also charge the following amounts for transactions :
Automated Transactions (Direct Debit/ Standing Orders)  20c.
Internet or Phone transaction 20c
ATM withdrawals  35c
Machine Lodgements 35c
Cheque Processing 39c
Debit Card Transaction  20c
Over the Counter Transaction  39c

More on AIB Charges

Bank of Ireland (BOI)

Bank of Ireland current accounts have a flat fee of €6 per month. (€72 a year). This fee cannot be avoided. More details about the Bank of Ireland Charges .

(No fees on Golden Years, Graduate, 3rd Level student or 2nd Level student current accounts).


All KBC transaction and admin fees are avoidable. if you lodge at least €2000 in the account each month.
KBC will charge customers who don’t lodge €2000 at any time in the quarter as follows :
A €6 per quarter maintenance fee
30c for each ATM transaction
30 cent per cheque lodged in the quarter.
Fees on non-Euro purchases are not avoidable.

KBC have revealed plans to pull out of Ireland in the near future. (Apr 2021)

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 week is free)
ATM withdrawals  60c
Lodgements at branch  50c
This account no longer pays rewards.

Credit Union Current Accounts

Credit Union accounts have a monthly Account Maintenance Fee of €4 charged quarterly ( €12 per quarter). There is also a 50c charge per ATM withdrawal once you go over five in a month. If you use the card for spending outside the Eurozone there is a 2% charge, capped at €12.

Comparison of Bank Charges 

These figures are based on the following annual transactions:

Debit Card Purchases (Euros) :  365 (1 a day)
Contactless 365 (1 a day)
Debit Card Non-Euro Purchases of €100 equivalent. 12 : (1 a month)
ATM withdrawals: 36 (3 a month)
Online transactions – 52 (1 a week)
Direct Debits 72 (6 a month)
Standing Orders : 12 (1 a month)
Counter transactions – none
Cheques Lodged 0

We have not included any cheque lodgement fees or fees for counter transactions. ( AIB and Ulster will charge extra for these)

Sample Annual Bank Charges

For all the transactions listed above: –

  • N26 would charge you nothing.
  • EBS would charge €12  (just for the non-euro purchases.)
  • PTSB would charge €33 (with the 10c reward for twice-daily debit card purchases included)
  • KBC would charge €55.80 (Reduced to €21 if you lodged €2000 per month)
  • Credit Union would charge €72
  • BOI charges would be €96.
  • An Post would charge €117.60
  • AIB would charge  €151.80
  • Ulster Bank would charge €160.80 (Reduced to €48 if you kept a balance of €3000 or more)

The best way of getting FREE banking in Ireland.

One method of getting free banking is to have an account at N26 and at EBS.

You can use the EBS account for ATM withdrawals, paying in cash and cheques. You can use the N26 debit card to get Apple Pay, Google Pay and fee-free non-euro purchases.
Salaries can be paid into either bank and money transferred between them as required. (You will not get a chequebook).
Having more than one bank account will also reduce the risk of having no access to funds in the situation of a bank or card provider experiencing IT problems.

If you don’t need to pay in cash or cheques – then an N26 account on it’s own will work fine.

If you can be sure of lodging at least €2000 a month – then KBC will also be free of charges. (for now). But KBC won’t accept cash and they plan to close down in Ireland in the near future,

Stamp Duty on Debit Cards

Note:  There is also a government stamp duty of 12c per ATM cash withdrawal at all banks.
More details of Debit Card Stamp Duty

There is also a 50c stamp duty charged by the government on each cheque. This charge is payable when a chequebook is issued. ( €20 for a book of 40 cheques). If you have unused cheques your bank should refund you the stamp duty if you send them in. .

Are Irish Banking Customers being ripped off?

In the UK-
charges on current bank accounts are rare.  Most of the major banks do not charge day to day transaction fees.

Unlike its Irish current account customers – Bank of Ireland’s current account customers in the UK have fee-free banking – 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 in the UK 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 switch to a bank that does not charge fees.

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