By Shannon Power, 6th November 2025

When you are starting a company in Ireland, there are several things you need to consider. One important aspect is figuring out how and where to set up the best bank account for an Irish startup. There are many options available to entrepreneurs nowadays, meaning you just need to decide which is the right fit for you!

Who Needs a Business Bank Account?

If you have or plan to register a limited company in Ireland, you are required to have a company bank account, as this is a separate legal entity from those who own it. In contrast, individuals registered as Sole Traders or Partnerships in Ireland are not mandated to have a separate business account; they can use their personal account for business transactions. However, it is highly recommended that they maintain a separate business account to simplify tracking of funds flowing in and out of their business.

What Do I Need to Open a Business Bank Account in Ireland?

Sole Trader/ Self-Employed:

1. Photo ID
2. Proof of address
3. Bank mandate form confirming you have the right to open a bank account on behalf of the business
4. Sample signature at a branch
5. Certificate of Business Name (If trading under a different name to your own.)

Limited Company:

1. Photo ID
2. Proof of address and ID of signatories
3. Certificate of incorporation
4. Certificate of Business Name (if applicable)
5. Company Constitution
6. Account Mandate form
7. Details of the beneficial owners registered with the RBO

What Bank is the Right Choice for My Business?

When considering your banking options, it’s essential to have a clear idea of what you are looking for and what your business requires. You want to avoid selecting a bank only to discover later that it doesn’t provide a specific service essential for your operations.

Here are several key considerations to keep in mind when exploring your options:

• Do they offer Start-Up support?
• Are there any account restrictions?
• What features come with the account?
• What are their fees like?
• What does the application process entail?
• Do they offer online or mobile banking?

Irish Business Bank Account Options

There are several business bank account options available to companies today, making it easier to find the one that best suits your needs. In Ireland, the two main types of banks are High Street Banks and Online Payment Accounts.

High Street Banks

This is the most popular option for business bank accounts. High Street Banking means there is a physical branch that you can visit in person. With these types of accounts, you can bank electronically, along with cash, cheques, and coins. This type also allows you to apply for company loans and overdrafts if needed. Setting up a bank account through a High Street Bank usually takes 10-14 business days.

Bank of Ireland

Bank of Ireland is a well-established Irish bank which offers a wide range of services to support businesses. They provide a specific Startup package designed for businesses that have started in the last three years.

Features:

• No maintenance or transaction fees for 2 years
• Contactless payment – Offers contactless payments through Apple Pay and Google Pay
• Deposit options – Business accounts benefit from having various deposit options, including access to business notice accounts and fixed-term deposits.
• Complementary BOL Subscription – For 2 years, account owners can access Business Online, BOI’s dedicated online banking service for businesses, for free.
• 365 Online – Customers can make online payments of up to €20,000 a day and access their account whenever necessary.

How to Apply:

For Sole Traders, you can apply online through their website. However, for Limited Companies, Partnerships, and all other types of business current accounts, you will need to arrange a meeting with their advisors.

Visit Bank of Ireland

AIB

Another popular choice, AIB offers a Business Startup Package for those who have been operating for less than three years and are opening their first AIB Business Startup Current Account.

Features:

• Waived maintenance and transaction fees – For the first 2 years, you do not have to pay fees on any maintenance or transactions on your account. This does not include cash handling fees. However, customers benefit from up to €100 off quarterly cash handling fees.
• Easy Payment Methods – Customers can make payments through direct debit, card, standing order, online, and cheque.
• Finance Insights – Provides detailed transaction records and regular statements.
• Merchant Accounts – Offers a Merchant Service, which allows you to accept payments in-store, online, or over the phone.
• Business Support – The website boasts a library of support and helpful insights under its Sector Expertise section.

How to Apply:

Unlike Bank of Ireland, AIB takes online applications from Sole Traders, Partnerships and companies (limited companies, DACs, and CLGs). All other entity types require you to schedule an appointment with your local branch.

Visit AIB

Permanent TSB

Permanent TSB cater their business services more towards Sole Traders and established businesses, making its Startup Supports fewer than those previously mentioned. However, there are still many benefits from choosing this High Street bank.

Features:

• No transaction fees in Europe – Businesses benefit from no fees on transactions conducted within Europe, including countries outside of the Eurozone.
• Multiple ways to bank – Offers many ways to bank, such as through online banking with Business24, in-branch banking with their dedicated business banking team, Quickbank branches, bulk payments, and mobile payments.
• Integration – Accounts can integrate easily with accounting services such as Xero.
• Overdraft facility – You have the option to apply for a Business Overdraft to manage your business’s cash flow when needed.

How to Apply:

Like AIB, Sole Traders, Partnerships, and limited companies can all apply for a Business account on the Permanent TSB website. Depending on the type of account you are opening, you may be required to make an initial deposit.

Visit Permanent TSB

Online Payment Accounts (Neobanks)

These are bank accounts which are solely online. These banks have no physical location and do not have any branches you can visit in person. These types of accounts can be limited in the services they offer as they cannot take cash or cheque payments, and may not offer overdraft, direct debit or loan facilities.

Revolut

Established in 2015, Revolut has become one of the biggest online business banks in the world with a very strong reputation. A Revolut business account offers a fully digital account in over 30 currencies.

Features:

• Prepaid business cards – Each employee can get a physical or virtual prepaid business card that is connected to the company’s main account. This makes it easier to track expenses and set spending limits on the go.
• Card Readers – Companies can order a physical card reader for their business for a fee of €49+shipping, or they can access a card reader app on their devices.
• Integration – Allows you to sync your business’s transactions to accounting software such as Xero, QuickBooks, and FreeAgent.
• Discounts & Perks – Revolut has many business partners, like Apple and Google, who offer attractive discounts to Revolut Business Account Holders.
• Open API – Their open API allows you to merge your Revolut business account with your business software and processes.
• Multi-Currency Use – You can hold, receive, and exchange money in up to 24 currencies with no added fees from Revolut. You can also hold business cards for multiple currencies.
• Revolut Pro – Ideal for freelancers, contractors, and self-employed individuals to manage their business finances. Offers a dedicated IBAN, 1% cashback debit card, and multi-currency payment acceptance using QR codes, payment links, and invoice templates.

How to Apply:

As it is a completely online bank, all applications must be done digitally and through their website. Once they have received your online application, they will review your application, and approval can be granted within just a few hours.

Visit Revolut

N26

Created for freelancers and Sole Traders, N26 offers an easy-to-use, low-cost online banking service. While it does not provide options for companies, it can be a great choice for those starting out, as it comes with several benefits.

Features:

• Business MasterCard – You will get a business Mastercard, which gives you cashback on transactions of 0.01%. You all have no fees on cashless payments with Mastercard and Maestro Card in all currencies around the world.
• Remote Banking – All banking services are accessed through your mobile banking app on your smartphone, allowing you to easily access and manage transactions.
• Multiple Account Options – N26 provides four distinct business account plans to meet various needs. This includes the free Standard plan and three paid options: Smart, Go, and Metal, each offering increasing benefits and costs.
• Savings & Budgeting – Get interest on savings every 3 months through the N26 partner bank. Plus, N26 allows you to create rules to set aside funds for different projects or future bills in up to 10 savings “spaces”.
• Card Readers – You can purchase a card reader for your business as N26 is partnered with SumUp, giving you a 35% discount on card reading devices.

How to Apply:

All bank applications must be done online through the N26 website. Once on the site, you can view and select the four account options so you can choose the best plan for your situation. Please note that you need to be a citizen in a European country where N26 is operating to apply for an account. Since Brexit, N26 has closed all UK accounts.

Visit N26

Fire

Designed specifically for e-commerce businesses, a Fire business account allows Irish and British-registered companies to manage their finances entirely online. Whilst not a traditional bank, it is still a great option for those looking to automate and monitor their financial operations.

Features:

• Multiple Users: Account holders can set up multiple users with different access levels, so all team members can access what they need. You can also order multiple MasterCard debit cards, which are linked to both a Sterling and a Euro account.
• Sterling and Euro Accounts: You will have access to both a Sterling and a Euro account, allowing you to process seamless bank transfers to and from your account.
• Integration: Fire integrates easily with your existing systems with the Fire Business API. Regardless of whether you use Xero, QuickBooks, or Sage, you can automate the reconciliation process and receive real-time updates on your accounts.
• Real-Time Features: Get instant notifications for payments, card usage, and any other account activity. You can conduct real-time foreign exchange transfers between your accounts and view fees before committing.
• Fire API: Make large volume batch payments to suppliers and partners through the Fire Payments API.

How to Apply:

You can apply for a Fire business account through their website. In most cases, you can expect to have an account open within 24 hours.

Visit Fire

Wise

Particularly great for freelancers, SMEs and e-commerce businesses, a Wise business account allows for multi-currency, international transactions at low costs.

Features:

• Free Transactions – With a Wise account, it is free to receive money in EUR, USD, GBP, PLN, AUD, NZD, CAD, HUF, RON, SGD, and TRY (non-wire, non-Swift). You can also get your own UK, Eurozone, New Zealand, Australian, and US bank details for free without having a local address.
• Open API – Wise’s API allows you to automate and generate payments and get in real-time notifications from connected platforms.
• Integrations – Wise can integrate and sync with your accounting software, such as Xero or QuickBooks.
• Batch Payments Tools – You can process up to 1,000 payments easily, without manually paying each vendor or employee individually.
• Mobile App – Wise has a mobile app that allows you to view your transaction history, manage orders, control your PIN, freeze cards, and monitor your spending, whether sending or receiving money.

How to Apply:

Similar to the previously mentioned online payment accounts, the Wise bank registration process is entirely digital. Setting up a Wise business account requires a one-time fee of €50, and the verification process typically takes 2 to 3 days.

Visit Wise

How We Can Help

As you can see, there are many factors to consider when searching for the right bank account for your business. Company Bureau has helped numerous businesses find bank accounts that meet their specific needs. We have excellent relationships with key contacts within Ireland and Europe’s highest banking institutions.

We can ease some of the stress associated with this process and assist you in applying through our Company Bank Account Service.

Contact the Company Bureau team online today to learn more!

Disclaimer: This article is for guidance purposes only. It does not constitute legal or professional advice. No liability is accepted by Company Bureau for any action taken or not taken in reliance on the information set out in this article. Professional or legal advice should be obtained before taking or refraining from any action as a result of this article. Any and all information is subject to change.