Best Business Bank Accounts in Ireland 2021


If you are starting a company in Ireland it is not a legal requirement to have a separate bank account. However, it is best practice to use a separate bank account and it will make your accountant’s job easier. Having business and personal transactions mixed together is very messy and will cost you more money in higher bookkeeping fees.

This article will show you some of the best business bank accounts available to you. As a startup the core services each bank provides are generic. The main things I would focus on are transaction fees, ease of payments, ability to generate user friendly reports.


Criteria Checklist

When choosing a business bank account you should consider the following criteria

  • Cost – Monthly fees and transaction fees
  • Reporting – Year end reporting & VAT returns 
  • Channels – Online banking & Mobile App
  • Restrictions – Is there a limit on transfers. Non EU payments & cost?
  • Startup Supports – Free desk, advice, support line for technical issues etc
  • Security
How to setup a company in Ireland if you are a non EEA resident

What you will need to open a business bank account

  • At least one proof of address, possibly 2 issued within the last 6 months
  • Photo ID
  • Certificate of Incorporation if a limited company.
  • Copy of the constitution
  • Confirmation of source of any funding
  • If trading under a different name to the company you need to show proof of registration
  • Share certificate confirming share ownership
  • Completed bank form (sample questions in appendix below)
  • In general, you will need to visit the branch in person

Bank of Ireland

My business bank account is with Bank of Ireland. To setup the account was very straight forward, the branch manager was very helpful. They have a business portal (Business Online) which is terrible for reporting. You also have to pay €10 per month. I wasn’t able to get statements beyond 3 or 4 months. It was painful, useless for year end reporting. I called them and they set me up on 365online which works perfectly and it’s free. It’s exactly the same as the version you use for personal banking. If you do go with Bank of Ireland ask for the same because their business bank website is dreadful. There is also no mobile app. Max transfer of €20,000 per day.

How do I open a startup business bank account with Bank of Ireland?

If you would like to open a startup account with BOI please click here. If you are a sole trader you can complete the process online. If you are a company or partnership you will need to arrange a meeting. 


AIB offers a start-up package for businesses which have been in existence for less than 3 years.They offer the first 2 years free of certain transactions fees. They have two banking online options, one is free the other costs €250 per year. The free version is aimed at small businesses while the premium version is more suitable to medium companies. They also have a mobile app. They have a transaction history of up to 24 months and a statement history of up to 7 years. Max payments of up to €30,000.

How do I open a startup business bank account with AIB?

To apply for an AIB startup business bank account click here. You will need supporting documents (details). A director and one authorised person will need to present themselves to an AIB branch with ID and proof of address. Non-residents may need to provide additional information.


KBC offers a range of services to support businesses. They include: Current accounts, loans, deposit, debit and credit cards. KBC also have a mobile app to help manage your business easier. Unlike AIB & BOI who offer 2 years free banking KBC apply transaction charges. The maximum transfer is €15,000 per day. Currently, KBC don’t offer a package specifically for startups.

How do I open a business bank account with KBC?

In order to open a business bank account with KBC you first need to talk to one of their business partners. You can start the process by clicking here.  They also require the identification of those who control / own the business as well as all legal documents related to the business such as certificate of incorporation and the company constitution. 

Ulster Bank

Ulster bank offer a core banking service. Their startup package is available to companies who have been formed within the last 3 years and have a turnover of less than €1m. They don’t provide detailed information on exactly what service they provide and what information is available from their app or online banking website.

How do I open a startup business bank account with Ulster Bank?

To open a business bank account with Ulster bank click here. If you are a company they need to verify who are and where you live. This can be done with a passport and a utility bill. They will also need a copy of your certification of incorporation and a copy of your constitution. There are three steps, 1. Gather all documents, 2. Complete a form online and 3 visit your branch. It takes 7 working days to process your application.

Permanent TSB

Permanent TSB don’t offer business bank accounts specifically for startups and there are transaction fees. They have online banking and a mobile app. As they don’t have a start-up package there doesn’t appear to be any additional benefits beyond a standard service. 

How do I open a startup business bank account with Permanent TSB?

To open an account as a company they require similar documents already discussed such as proof of identity and legal documents relating to your company such as certificate of incorporation. They list “Memorandum and Articles of Association” but this has been replaced by a company constitution. In addition they also require on company headed paper a list of all directors and their details as well as a list of all shareholders who own 25% or more of the company.


N26 specialises in banking for the self-employed and freelancers. They do not offer bank accounts to companies. You can sign up online, the process takes apparently takes 8 minutes. From there website the app they have makes it very easy to track and categorise all transactions. You can also export all these transactions to a CSV file for your accountant.They also have a desktop version so you’re not limited to your mobile.

How do I open a startup business bank account with N26?

To open a business bank account with N26 click here. Everything seems to be online. You provide your email, download the app, verify your identity and then you get your debit card.


Revolut for Business is a business account platform for domestic and international payments. If you make a lot of cross currency payments Revolut aims to get you the best possible exchange rate and reduce costs associated with foreign currency transactions. They also try to reduce paper work as much as possible making your accounting process more streamlined. 

How do I open a startup business bank account with Revolut?

To open a business bank account with Revolut click here. You will need to provide similar information mentioned above but everything can be done online. As per their website the process only takes a few minutes. 

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