Opening a business bank account in Ireland: Documents, process and options

When you run a business there's so many things to decide, one of which is what business bank account to use. When you do decide which account is right for you, you then need to start the process of opening it, but what’s involved with that?

We’re going to answer that question for you, explaining what there is to know about opening a business bank account in Ireland. We’ll let you know the general process, frequently asked for documents, and some of the options that are out there.

We’ll also let you know about the Wise business account, a great option if you need a hassle-free international account that will allow you to manage multiple currencies.

Wise Business: Manage +40 currencies
in one account 💼

What are the business bank account types in Ireland?

In Ireland, there are two common forms of business accounts on offer:

• Current account
• Savings account

Each type serves a purpose, but the Current account could be considered more critical to daily operations. As a result, that’s the account we’re going to focus on.

How to open a business bank account in Ireland

The exact process may vary slightly between banks but there’s a general process you'll encounter when opening an Irish business bank account:

1. Complete an application form relevant to the type of account you want to open and the form of business entity you have;
2. Submit the application to the bank for review;
3. When notified, visit the branch to complete any final requirements such as identity verification.

Depending on the type of business you have or the account you want to open, some banks may want you to meet with a business advisor instead of submitting an application form.

What are the necessary documents to open a business bank account in Ireland?

To open a business account in Ireland the bank will ask you to provide information about the company and key people involved in it. The specifics may vary depending on the business structure, but these are the common things you’ll be asked for:

• Proof of the Company name and Company registration number
• Certificate of Registration if trading under a different name to the Company
• Valid photo identification and proof of residential address of the directors
• The relevant Beneficial Ownership Registers.²

Can I open a business bank account online in Ireland?

There are some banks that offer the option to start opening an account online, but they may need you to visit a branch to complete the identification process.

Whether or not you can open a business account online in Ireland can also depend on what type of business you have. For example, Bank of Ireland allows sole traders to apply online but all other business types need to organise a meeting with a business advisor.¹

Can I open a business bank account in Ireland as a non-resident? 🌎

If one of the people involved in the business is a non-resident then you need to speak to the bank to see if they need to provide any additional information to be able to open the account.²

In the case of a foreign business wanting to open an account in Ireland, it can be possible but it will very much depend on circumstances. The best thing to do is choose a few banks whose business accounts seem suitable, then reach out to customer service or make an appointment with their business advisor to see what’s possible and what you’d need to do to make it happen.

Business bank accounts in Ireland: Comparison of features and fees 💰

Choosing which bank to go with can seem a daunting task, so one of the best places to start is by comparing the features and fees. Ultimately, what you want is a service that gives you access to all of the essential features you need, at the most cost-effective price.

To help you get an idea of what’s out there and how things compare, here’s some of the fees and services offered by AIB and Bank of Ireland. We’ve also included information for the Wise Business account, as an option available in Ireland.

* No fee from Wise. Correspondent banks might charge fees we have no control over .

Wise: An international business account with no monthly fees

The Wise business account delivers a smart solution for businesses looking for convenience and ease transacting in multiple currencies. With no monthly fees, no hidden charges or complex fee schedule, Wise in Ireland is not a bank but a payment institution offering payment accounts. This makes it simpler for your business to spend, send and receive money.

Once you have an account, you can order a Wise Business debit card, as well as additional cards for your team, and pay a single fixed card-creation fee per card with no monthly fees applied.

Able to integrate with most major APIs, the Wise Business Account also facilitates better cash flow management and consistent, reliable reporting across all additional cards.

The benefits of the Wise business account:

• Send money to 160+ countries
• Manage your business balance in 40+ currencies
• Access account details in 8 currencies (such as EUR,, GBP, CAD, and more), allowing you to receive international payments like a local business
• Make payments with Wise’s physical and virtual business debit card
• Convert your money using the mid-market exchange rate
• No annual or account maintenance fees
• Plus much more, like batch payments, download monthly statements, automate payments, connect with Xero and QuickBooks.

Open your Wise business account online 🚀

Sources used:

Sources last checked on date: 15 November 2024