Banking in Ireland 2023 – What’s available? What’s new?

What types of banks are operating in Ireland?

If you are looking to open a business bank account for your company in Ireland, you can rest assured that Ireland has a vibrant and modern banking sector.

Traditional banks:

The three primary traditional banks operating in Ireland are the Bank of Ireland, Allied Irish Bank, and TSB. 
The Irish government has a minority share in the Bank of Ireland at 9.3%. It has majority stakes in two banking groups, with Allied Irish Banks controlling 71% and TSB holding 75%. 

Digital banks:

There has been a trend in recent years for more bank customers to move away from traditional brick-and-mortar banks and toward digital or online banks. This is largely due to the convenience and flexibility that these banks offer. Digital banks like Revolut, Fire, and N26 have entered the Irish market. 

Digital and online banks can be easier to use than traditional banks, with user-friendly interfaces and features such as mobile app support. Some can also offer competitive interest rates on savings accounts and loans.

The use of mobile payments is on the rise, with people increasingly comfortable paying for goods or services at stores by simply tapping their phone screen.

With a selection of digital banks and traditional banks Ireland’s banking system is offering a number of options for businesses looking to open a bank account in Ireland.

If you are trying to find out which bank would best suit your business, click here to learn more, or you can contact a member of our team using the form below: