Opening an Irish bank Account

Seanybhoy68

I have joint British/Irish citizenship and hold both passports. Is it possible to open an Irish bank account if I live permanently in the UK?

My main reason is I read they're looking at scrapping 85k guarantee by the FSCS. I would still like to open an EU account anyway.

wmb194

Seanybhoy68 said:

I have joint British/Irish citizenship and hold both passports. Is it possible to open an Irish bank account if I live permanently in the UK?

My main reason is I read they're looking at scrapping 85k guarantee by the FSCS. I would still like to open an EU account anyway.

Where did you read that? Given that people like and expect it that's exceptionally unlikely.

You can open accounts based abroad if they have the right permissions to operate here and want to. However, if you just want a euro denominated account it would probably easier to go with Fineco, an Italian bank that definitely will open accounts for UK residents.

Aidanmc

Seanybhoy68 said:

I have joint British/Irish citizenship and hold both passports. Is it possible to open an Irish bank account if I live permanently in the UK?

My main reason is I read they're looking at scrapping 85k guarantee by the FSCS. I would still like to open an EU account anyway.

I was able to open a Permanent TSB account a few years ago being a UK resident. Had to provide 2 forms of ID (passport & DL) and proof of address. Was able to do it all online/email.

I'm not sure whether PTSB still offer accounts to non residents though.

Looks like Bank of Ireland and AIB do though, but additional ID/proof or address requirements also.

https://www.bankofireland.com/help-centre/faq/open-non-resident-account/

https://aib.ie/our-products/savings-and-deposits/non-resident-personal-identification-requirements

As wmb194 suggested, Fineco is probably your best option, good for exchange also.

Katiehound

Definite yes for Bank of Ireland.

proof of identity as above, opened in branch earlier this year when Ulster Bank pulled out. Passport or DL plus proof of address (in UK)

be aware there are bank charges unless you are a 'golden oldie'

I'm also not sure about PTSB- I went into branch to discuss it with them but they were fully booked for appointments at the time I was there ,so I went went with BOI who said I didn't need an appointment.

ColdIron

Seanybhoy68 said:

My main reason is I read they're looking at scrapping 85k guarantee by the FSCS.

Seems extraordinarily unlikely. Do you have a link to where you read that?

Seanybhoy68

ColdIron said:

Seanybhoy68 said:

My main reason is I read they're looking at scrapping 85k guarantee by the FSCS.

Seems extraordinarily unlikely. Do you have a link to where you read that?

Can't recall but I'm not normally one to believe rumours but it must have came from a credible source if I took heed to it. 

Seanybhoy68

Katiehound said:

be aware there are bank charges unless you are a 'golden oldie'

Can you tell me what the bank charges are?

Aidanmc

Seanybhoy68 said:

Katiehound said:

be aware there are bank charges unless you are a 'golden oldie'

Can you tell me what the bank charges are?

Most if not all Irish banks charge a 'maintaining the account' monthly fee for current accounts. I see the Bank of Ireland one is 6 euro per month.

Although the Basic bank account there has no fees.Edit - for first 12 months

The account i have with PTSB is a savings account, no charges. I only have a cashcard (not debitcard)for the account the account that only works at PTSB atm's. Have full online access and services though.

Band7

Euro account at Starling Bank or at Fineco Bank are the obvious choices for a UK resident who wants a Euro account. I would go possibly opt for Starling because it is a lot more modern and easy to use than Fineco but if larger amounts of money are involved, Fineco might be a better choice as they have slightly better exchange deals. Why not open both, then you can decide for yourself which one suits you better. 

Both have the £85k FSCS protection. I don't think there is any reason to think this protection will change anytime soon.

No hard credit file search at Starling, but Fineco will do one.

Seanybhoy68

I have a UK account with Starling atm but haven't been impressed with them lately. Their CS seems to have gone down the pan with them of late. 

[Deleted User]

Seanybhoy68 said:

I have joint British/Irish citizenship and hold both passports. Is it possible to open an Irish bank account if I live permanently in the UK?

My main reason is I read they're looking at scrapping 85k guarantee by the FSCS. I would still like to open an EU account anyway.

Bank accounts are based on residency not what citizenship you hold.

Even for Danske Bank which is considered a UK bank you have to be resident in Northern Ireland to apply, they will not open accounts for GB/ROI residents.