So what is the Best Bank ? – All 9 available banks in Ireland reviewed and compared for fees, interest rates, service and more.
Picking a bank can make a big difference. If you pick the right one, you’d get good service and even a return on your savings. But if you pick the wrong one, you’ll be hit with a lot of unnecessary hassle and fees.
Our pick for the Best Bank Ireland is Revolut. This is after ranking each bank in Ireland in the following categories: Interest rates, fees, ease of use, FX rates, access (ATM) and features.
| Rank | Overall | Recurring Fees | Interest Rate | Ease of Use | Features | Access | FX Rates | RATING |
| 1 | Revolut | 5 | 2 | 5 | 5 | 2 | 4 | 3.75 |
| 2 | N26 | 5 | 3 | 4 | 5 | 0 | 4 | 3.35 |
| 3 | Bunq | 3 | 5 | 4 | 3 | 2 | 1 | 2.95 |
Here’s how we rank on a score of 0-5:
- Interest rates: What rate the bank offers for instant savings accounts.
- Recurring fees: What annual or monthly fees you must pay to have an account.
- Ease of use: What’s quality is of their banking app, is it easy to do business with them.
- FX (Foreign Exchange) rates: How expensive is it to mover money to different countries.
- Access (ATM): What fees the bank charges to use the ATM, locally, in the EU and outside the EU.
- Features: What can they offer outside of traditional banking, investments, crypto etc.
Different banks suit different people. So we didn’t just rate the banks overall, but also which bank is best depending on the type of person you are by weighting our rankings accordingly. Including the best bank for Savers, Frequent Travellers and Students. For example:
- As a Saver, you prioritise the Interest rates.
- As a Frequent Traveller, you prioritise the FX (Foreign Exchange) Rates.
- As a Student, you prioritise the overall costs & fees.
Read on to find out, whose the best bank for you and how you can sign up.
Best Bank Ireland for Overall?
Our pick for the Best Bank Ireland overall is Revolut.
Revolut is the best bank Ireland has overall. It’s free unlike all other bank current accounts and ranks above average in all other categories, making it the strongest bank by a mile overall.
Here’s how our rankings breakdown:
| Rank | Overall | Recurring Fees | Interest Rate | Ease of Use | Features | Access | FX Rates | RATING |
| 1 | Revolut | 5 | 2 | 5 | 5 | 2 | 4 | 3.75 |
| 2 | N26 | 5 | 3 | 4 | 5 | 0 | 4 | 3.35 |
| 3 | Bunq | 3 | 5 | 4 | 3 | 2 | 1 | 2.95 |
| 4 | AIB | 4 | 2 | 2 | 0 | 4 | 2 | 2.6 |
| 5 | Raisin | 5 | 4 | 0 | 2 | 0 | 0 | 2.35 |
| 6 | Credit Union | 3 | 3 | 0 | 0 | 4 | 0 | 1.95 |
| 7 | An Post | 1 | 3 | 2 | 0 | 3 | 3 | 1.5 |
| 8 | BOI | 1 | 1 | 0 | 0 | 4 | 1 | 1.05 |
| 9 | PTSB | 1 | 0 | 1 | 0 | 3 | 0 | 1 |
RECURRING FEES: Paying a monthly fee for a current account isn’t attractive. We have researched and ranked the banks available in Ireland on what they charge per annum or month for their entry account. With Revolut being completely free, and BOI charging €72 per year.
ACCESS (ATM): Taking out cash from an ATM can be quite costly per transaction. We’ve looked at the Irish banks and what they charge per transaction. Revolut gives 5 free transactions per month, with min 1€ per transaction after, compared to AIB who charge a 0.35c of all withdrawals or even An post, charging 0.6c per withdrawal.
EASE OF USE: For day-to-day banking, you’d like the least hassle right? The Revolut app is bang up to date. You can send money quickly, and the app runs smoothly. Unlike the BOI app, which is slow and glitchy and can take days to send money for example.
Best Bank Ireland for Savings?
Our pick for the Best Bank Ireland for a saver is Bunq.
Bunq is the best bank Ireland has as a saver. As the Interest rates they offer are better than their competitors. Making it the best choice for a saver.
| Rank | Saver | Recurring Fees | Interest Rate | Ease of Use | Features | Access | RATING |
| 1 | Bunq | 3 | 5 | 4 | 3 | 2 | 4.15 |
| 2 | Raisin | 5 | 4 | 0 | 2 | 0 | 2.95 |
| 3 | Revolut | 5 | 2 | 5 | 5 | 2 | 3.35 |
| 4 | AIB | 4 | 2 | 2 | 0 | 4 | 2.2 |
| 5 | An Post | 1 | 3 | 2 | 0 | 3 | 2.2 |
| 6 | Credit Union | 3 | 3 | 0 | 0 | 4 | 2.15 |
| 7 | N26 | 5 | 3 | 4 | 5 | 0 | 3.55 |
| 8 | BOI | 1 | 1 | 0 | 0 | 4 | 0.85 |
| 9 | PTSB | 1 | 0 | 1 | 0 | 3 | 0.5 |
This is what’s important for a Savers account:
INTEREST RATES: When Saving, you’d like to have a good interest rate whilst also keeping your money in one place. We looked at the best Interest rates on Instant savings accounts in Ireland. Bunq offers a 3.11% bonus interest rate for new users. Its standard base interest rate is 1.61% on the first €10,000 of your balance, while any portion above €10,000 earns 1.51%. The bonus rate is subject to eligibility and applicable conditions.
Bunq standard base interest rate is 1.61% on the first €10,000 of your balance. Any portion above €10,000 continues to earn 1.51%. The 3.11% bonus interest rate is available to eligible new users, subject to Bunq’s applicable conditions.
RECURRING FEES: As a saver, you want to keep your money and not spend it. So having to pay a monthly or yearly fee to keep your money is not ideal. We looked at all the fixed fees on instant savings accounts. Then ranked them on how fair the fees are. With Bunq who’s Easy savings account which is free, compared to BOI, charging €72 per annum.
EASE OF USE: When Saving, you want to be able to put money into your account easily. Without having to go through any long protocol or delays. We looked at the banks in Ireland, and rated them on how easy it is to use their services. With the Bunq app you can easily access your money, putting your money in and taking it out with ease and safety. Unlike the BOI app, which runs far from smoothly with a lot of delays.
| Best Instant Saving Accounts | Bunq | Raisin | AIB | N26 | Trade Republic | Revolut |
| Savings Rate (AER) | 3.11% | 2.07% | 0.25% | 1.3% | 2.5% | 1.70% |
| Term | Instant | Instant | Instant | Instant | Instant | Instant |
| Conditions | upto €100,000 | upto €100,000 | no limit | no limit | upto €50,000 | upto €100,000 |
| Best Fixed Term Saving Accounts | Bunq | Raisin | AIB | Bank of Ireland | PTSB | State Savings |
| Savings Rate (AER) | 3.11% | 2.77% | 2.75% | 2.50% | 2.5% | 1.32% |
| Term | Instant | 1 Year | 1 Year | 1 Year | 1 Year | 3 Year |
| Conditions | upto €100,000 | upto €100,000 | €15,000 – no limit | €5,000 – no limit | €5,000 – no limit | €50 – €120,000 |
Best Bank Ireland for Frequent Travellers?
Our pick for the Best Bank Ireland for a Frequent Traveller is Revolut.
Revolut is the best bank Ireland has for a Frequent Traveller. That is because the FX rates they offer are the best, and it’s straightforward and easy to use.
| Rank | Overall | Recurring Fees | Ease of Use | Features | Access | FX Rates | RATING |
| 1 | Revolut | 5 | 5 | 5 | 2 | 4 | 3.75 |
| 2 | N26 | 5 | 4 | 5 | 0 | 4 | 3.1 |
| 3 | An Post | 1 | 2 | 0 | 3 | 3 | 2.6 |
| 4 | AIB | 4 | 2 | 0 | 4 | 2 | 2.5 |
| 5 | Bunq | 3 | 4 | 3 | 2 | 1 | 1.9 |
| 6 | BOI | 1 | 0 | 0 | 4 | 1 | 1.55 |
| 7 | Credit Union | 3 | 0 | 0 | 4 | 3 | 1.15 |
| 8 | PTSB | 1 | 1 | 0 | 3 | 0 | 0.95 |
| 9 | Raisin | 5 | 0 | 2 | 0 | 0 | 0.35 |
This is what’s important for a Frequent Traveller account:
FX (FOREIGN EXCHANGE) RATES: When travelling, and having to change between currencies. You’d like do so with a bank that charges the least in exchange. We looked at the banks in Ireland and what they charge. Revolut have an FX rate of €1:£0.85 charging 1% after their €1,000 limit is reached. Compared to BOI who have an FX rate of €1:£0.84, charging 3.5% of the value.
ACCESS (ATM): When travelling abroad, and having to take cash out of an ATM, the extra fees may vary. So we looked at what the Irish banks charge when taking out money abroad. When using ATMs abroad, Revolut are the same, they offer 5 free transactions per month, then minimum €1 after for both EU and non EU ATMs. BOI, charge 0.12c per transaction abroad in taking out euros, and minimum €3.17 per transaction, non-euro.
EASE OF USE: Travelling can be stressful. So you should choose a bank which lets you do your day-to-day banking with ease. For example, contactless payment for buses and trains. We have ranked the banks with this in mind, to make your travelling experience stress-free. With Revolut you can send money quickly and the app runs smoothly. Unlike the BOI app, which isn’t up to date, which is a very slow and glitchy app and can sometimes take days to send money.
Best Bank Ireland for Students?
Our pick for the Best Bank Ireland for a Student is Revolut.
Revolut is the best bank Ireland has for students. Easy to use, quite convenient, and free! Making this the best choice for students.
| Rank | Overall | Recurring Fees | Ease of Use | Features | Access | RATING |
| 1 | Revolut | 5 | 5 | 5 | 2 | 1.75 |
| 2 | AIB | 4 | 2 | 0 | 4 | 1.5 |
| 3 | Bunq | 3 | 4 | 3 | 2 | 1.4 |
| 4 | Credit Union | 3 | 0 | 0 | 4 | 1.15 |
| 5 | An Post | 1 | 2 | 0 | 3 | 1.1 |
| 6 | N26 | 5 | 4 | 5 | 0 | 1.1 |
| 7 | BOI | 1 | 0 | 0 | 4 | 1.05 |
| 8 | PTSB | 1 | 1 | 0 | 3 | 0.95 |
| 9 | Raisin | 5 | 0 | 2 | 0 | 0.35 |
This is what’s important for a Student account:
RECURRING FEES: As a student, you want an account for your day-to-day banking. Without having to pay a monthly or yearly fee. So we looked at the Irish banks and their recurring fees. With Revolut being the only bank offering a current account for completely free, and the likes of BOI charging €72 per year.
ACCESS (ATM): As a student, taking out cash would be a common occurance. So we have looked at the Irish banks and what they charge per ATM transaction. Revolut gives 5 free transactions per month, with min 1€ per transaction after, compared to AIB who charge a 0.35c of all withdrawals or even An post, charging 0.6c per withdrawal.
EASE OF USE: As a student, you want your banking to be simple. Like contactless payment for day-to-day banking, or even when commuting by bus or train. So we looked at the Irish banks, and their ease of use. As the Revolut app is modern. You can send money quickly, and the app runs smoothly. It also has a lot of different features, in which you can invest your money. Unlike the BOI app, which isn’t up to date, as it can take days to send money, and is a very slow and glitchy app.
Alternatives
These are some alternatives to find the best bank Ireland, if you typically:
- BANK ONLINE: If you’re somebody that banks online. Our best bank option for you is Revolut. It is free to use, has the same features as other banks + more. It is one the most advanced online banking platforms out there. You can send money quickly, and the app runs smoothly. The other features would include the ability to invest and trade.
- LOCAL & CASH: If you’re somebody that uses cash and prefers to bank locally. Our best option for you is a Credit Union. They offer reasonable rates, and lower fees and rates for loans. As for a personal loan, the Credit Union have an APR rate of 8.99% in comparison to BOI who have an APR rate of 6.8% for a personal loan.
- ROI (Return on Investment): If only want a good ROI, our best option is Bunq. The saving interest rates are better than their competitors, making it the best choice.
In a Nutshell
We ranked these different categories to find the best bank Ireland: Interest rates, recurring fees, ease of use, FX rates, access (ATM) and features. The result being that Revolut is the best choice.
So our best pick overall is Revolut. As it’s above average in all the categories, making it the best option available. Even if you’re a frequent traveller or student.
Other alternatives are always available such as the Credit Union. That’s if you prefer to bank locally, or use cash. If your primary goal is to get a good ROI, we recommend Bunq, due to its interest rates. Again, if you’re a saver, Bunq is the best option as the Interest rates are superior to the other banks in Ireland.
Next Steps – Best Bank Ireland
Our best choice for a Savings account is Bunq.
Our best choice for a Current account is Revolut.
If you’re a Saver and want to find more information on Savings Accounts, click here about Best Savings Account: Ultimate Review.
