After the departures of Ulster Bank and KBC Bank, what’s left for Irish consumers?

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There are a growing number of banks and emoney providers providing payment services in Ireland. Here's what you need to know

But, unlike with deposits perhaps, there are a growing number of banks and emoney providers providing payment services in Ireland. However, the offerings do differ from provider to provider, and due caution is needed before making a switch to ensure that a) you actually end up saving money; and b) you get the banking service you need.With the departure of Ulster and KBC, just three traditional or “pillar” banks remain in Ireland. First up is AIB, which has a quarterly fee of €4.

Again, you’ll have to pay up-front for it with a flat fee of €6 a month, although this does mean there are no fees on daily transactions. As with AIB, you can get an overdraft, chequebook or personal loan, as well as newer services such as Apple Pay etc. You also have access to a branch network. In Ireland, the biggest fintech player remains Revolut. More than a million Irish people now have a Revolut account but many use it primarily for sending or receiving payments.

If you sign up for a standard account, you won’t be hit with any monthly fees; but you will have to rely on web chat for support if things go wrong. “Our goal is to offer all prospective customers the ability to sign up for an N26 account of their choice as soon as possible,” she says.

 

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