Rates last updated: 29 October 2026 · How we verify
The Best Business Bank Accounts in Ireland (2026): AIB, Bank of Ireland, Revolut, Wise and More
Open your Revolut Business account here
There's no single best business account in Ireland: the cheapest one for a company that pays suppliers online in euro is not the cheapest for one that deals in dollars, takes cash, or has just been incorporated and qualifies for a free start-up offer. This guide compares the accounts open to Irish businesses in 2026, sets out who can open each one, and works out a year's cost for a typical small company. Fees are from each provider's published schedule, checked on 29 October 2026.
- AIB charges €4.50 a quarter plus €0.20 per automated transaction, and its start-up account waives both for 2 years; Bank of Ireland charges €15 a quarter plus €0.10.
- Revolut Business starts at €10 a month with 10 free local transfers, for companies: open your Revolut Business account here.
- For a small euro-only company, a free start-up offer beats every app; for multi-currency payments, Revolut Business or Wise usually wins.
Business accounts in Ireland compared
- High-street accounts charge a quarterly fee plus a fee per transaction; app-based accounts charge a monthly plan with a transfer allowance.
- Cash and cheques are only practical at the high-street banks.
| Account | Who can open it | Account fee | Transaction fees | IBAN |
|---|---|---|---|---|
| AIB Business | Companies, sole traders, partnerships | €4.50 a quarter | €0.20 automated (contactless waived for now), €0.35 self-service, €0.39 paper or staff-assisted | IE |
| AIB Business Start-up | New businesses (AIB's criteria) | Waived for 2 years | Waived for 2 years | IE |
| Bank of Ireland Business | Companies, sole traders, partnerships | €15 a quarter | €0.10 automated, €0.01 contactless, €0.60 paper or staff-assisted, €0.25 ATM | IE |
| PTSB Business | Sole traders, partnerships, limited companies | Quarterly charge, amount not published online | Transaction fees, not published online | IE |
| Revolut Business | Companies (not Irish sole traders) | €10 to €35 a month, or from €30 to €90 billed annually | Allowance by plan, then €0.20 local, €5 international | IE |
| Revolut Pro | Self-employed individuals | Follows your personal plan, €0 on Standard | Personal plan allowances | IE |
| Wise Business | Companies and sole traders | €60 once, no monthly fee | Conversions from 0.2%; free to receive local euro | BE |
| bunq Business | Companies and sole traders | €0 (sole traders) to €23.99 a month | By plan | Check with bunq |
| N26 Business | Self-employed individuals only | €0 to €16.90 a month | By plan | DE |
Sources: AIB business fees (from 1 July 2026), Bank of Ireland business fees (from 1 August 2025), PTSB, Revolut Business plans, Wise Business pricing and bunq Business plans. Government stamp duty on debit cards also applies at the high-street banks.
Worked example: a year's cost for a small company
- At 30 transfers and 30 contactless payments a month, a company pays about €90 a year at AIB, €99.60 at Bank of Ireland, €168 on Revolut Basic, and €0 on AIB's start-up offer.
- Add one dollar invoice a month and Revolut's Grow plan, or Wise, pulls ahead.
Starting data (assumptions): Niamh's marketing company is a new Irish LTD. Each month it makes 30 online transfers to suppliers and staff and 30 contactless card payments, all in euro, and deposits no cash or cheques. We count only these 60 outgoing payments; incoming payments are left out. Fees as published on 29 October 2026.
| Account | Calculation | Cost for the year |
|---|---|---|
| AIB Business | €4.50 × 4 = €18, plus 30 × 12 × €0.20 = €72 for transfers; contactless fee waived | €90 |
| Bank of Ireland | €15 × 4 = €60, plus 30 × 12 × €0.10 = €36 for transfers and 30 × 12 × €0.01 = €3.60 for contactless | €99.60 |
| Revolut Business Basic | €10 × 12 = €120, plus (30 − 10) transfers × €0.20 × 12 = €48; card payments have no fee | €168 |
| Revolut Business Grow | €35 × 12, all transfers inside the 100 allowance | €420 (from €360 billed annually) |
| AIB Business Start-up, years 1 and 2 | Maintenance and transaction fees waived | €0 |
Now add one invoice from a US supplier each month, paid in dollars and worth €4,600. Revolut Basic includes €1,000 a month of exchange at the interbank rate and charges 0.6% above that, so (€4,600 − €1,000) × 0.6% = €21.60 a month, plus €5 for the international transfer; Grow's €15,000 allowance and 5 free international transfers cover it, which is when Grow starts to pay for itself. At the high-street banks, foreign payments and currency conversion are charged separately on their fee schedules. Bank fees are an allowable business expense either way, so they reduce the company's taxable profit.
Sole trader or limited company: which accounts can you open?
- Irish sole traders can open a business account at AIB, Bank of Ireland, PTSB, Wise, bunq or N26, or use Revolut Pro; Revolut Business is for companies.
- A limited company must bank in its own name: the company's money isn't yours, even if you own all of it.
- Sole traders. Revenue doesn't require a separate business account, but one account for business income and costs makes your Form 11 and VAT returns much faster to prepare. Revolut's comparison page doesn't list Ireland where freelancers can open Revolut Business, so Revolut's route is Pro, inside the personal app (Revolut). Our Revolut review covers the personal plans.
- Limited companies. The account is opened with the CRO number, the certificate of incorporation and details of directors and shareholders over 25%. What you take out is salary, a dividend, a director's loan or an expense repayment, each taxed differently on your Form 11. Our Revolut Business review has the full onboarding checklist.
- Companies registered abroad. Revolut Business accepts companies registered elsewhere in the EEA; Irish high-street banks generally expect an Irish presence.
Deposit protection and interest on company money
- The high-street banks are covered by the Irish scheme, Revolut by Lithuania's and bunq by the Dutch one, each to €100,000; Wise is safeguarded, not guaranteed.
- Interest on company deposits is exempt from DIRT if the company has given the bank its tax reference number, and is taxed in the company at 25%.
- Company deposits count per company. The €100,000 cover applies to each depositor per bank, so a company with large balances spreads them across banks.
- No DIRT, but 25% corporation tax. Revenue exempts companies within the charge to corporation tax from DIRT once the bank has their tax reference number (Revenue). Deposit interest is passive income, taxed at 25% rather than the 12.5% trading rate. Revolut Business savings paid between 1% (Basic) and 1.75% (Enterprise) AER on 29 October 2026.
Which account should you choose?
- Just incorporated and euro-only: check whether you qualify for AIB's 2-year fee-free start-up account or Bank of Ireland's start-up package first.
- Paying or getting paid in other currencies, or wanting an account open within days: Revolut Business, with Wise alongside for large transfers.
- New company, euro only, some cash: AIB Business Start-up or Bank of Ireland's start-up package for businesses under 36 months; ask the bank for the current terms.
- Online business, suppliers abroad, team cards: Revolut Business, on Grow once you exceed Basic's 10 free transfers and €1,000 of exchange a month; the Revolut Business review has the detail.
- Sole trader, mostly euro: Revolut Pro or a high-street business account; for occasional foreign invoices, Wise Business has no monthly fee.
- Taking card payments in person: compare Revolut's Reader and Terminal with your bank's card machine offer, on the rate per transaction rather than the device price.
Once the account is open, the tax side is the part that costs money if it's wrong. If you're a director or self-employed, our Form 11 guide and the complete guide are the place to start.
Related reading
Questions we get asked
What is the cheapest business bank account in Ireland?
For a new business, AIB's Business Start-up account waives maintenance and transaction fees for 2 years if you qualify. After that, for a euro-only company making 30 transfers and 30 contactless payments a month, AIB came to about €90 a year in our example, Bank of Ireland €99.60 and Revolut Business Basic €168. AIB's contactless fee is waived until further notice, so check the current schedule.
Does a sole trader need a business bank account in Ireland?
Revenue doesn't require one, but keeping business income and costs in a separate account makes your Form 11 and any VAT returns far easier. Irish sole traders can use a high-street business account, Wise, bunq, N26 or Revolut Pro; Revolut Business itself is for companies.
Can I open a business bank account online in Ireland?
Yes. Revolut Business, Wise Business, bunq and N26 open fully online, and PTSB lets you apply for its business current account online. Revolut says its Irish review takes up to 5 business days.
Do companies pay DIRT on business savings in Ireland?
No, if the company is within the charge to corporation tax and has given the bank its tax reference number. The interest is then taxed in the company at 25%.
Referral links. Some links on this page are referral links: if you open an account through one, Irish Tax Mate may receive a reward from the provider, at no cost to you. It never changes what we write. We're a tax agent, not a bank or a financial adviser, and we compare accounts on fees, deposit protection and tax.