Key Post Which bank makes it easiest to open a new current account?

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Tintagel

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We are aged over 66 and currently bank with Ulster Bank. Free banking with uFirst Gold benefits.

We decided to call to two Bank of Ireland and two AIB bank branches, close to where we live, to see about opening a new joint account.

We were told that we could bring our documentation with us to the AIB and they would open our account on an iPad. No form filling.

In one Bank of Ireland branch we were told that we would have to open our account online and upload all the required documents. In the second BOI branch we were told to bring our smart phones in to their branch and if we were having difficulty opening the accounts, they would help.

Both staff were helpful but we thought that the AIB were more knowledgeable and helpful than BOI. Also, both AIB branches had a cashier service. One BOI of the two had a cashier service.
 
We decided to open an AIB current account pending the closure of our Ulster Bank account. We were opening an Advantage account.

I asked the lady that was opening the account if they actually wanted us as customers....she replied "not really" "there is nothing in it for us".
 
almostthere said:
We decided to open an AIB current account pending the closure of our Ulster Bank account. We were opening an Advantage account.

I asked the lady that was opening the account if they actually wanted us as customers....she replied "not really" "there is nothing in it for us".
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Might not have come across well, but you have to respect her honesty!
 
2 weeks ago I was wondering what all the fuss was about opening current accounts "sure you just do it online" I thought. Then I was speaking with my own parents, UB customers with a joint current account. They don't have a smartphone, and rarely use the internet. Both over 65 and qualify for free banking with the banks.

So to answer the question "Which bank makes it easiest to open a new current account", the answer is it depends on circumstances.

All Banks & Credit Unions will open a current account in person. However, you might need to make an appointment, and not all branches or some banks provide an account opening service. As per the opening post, some branches might direct you to the online options in the first instance. Some branches do not offer a full account opening service; for example the AIB 'Hub' in Dundrum shopping centre can open sole accounts, but not joint accounts.

Regarding the online options for Personal Current Accounts, here's what I've found so far (I will edit for any corrections pointed out):

For online opening all of the banks require you to be Irish Resident, and the holder of a passport issued in the EEA. If you don't have a passport, other forms of photo ID might be accepted in branch.
An Post also accept driving licence online.

AIB:
You MUST download their App, and complete application through that.
Only sole accounts can be opened: joint accounts require a visit to branch. Currently, appointments are recommended, and there's a bit of a wait to get an appointment in some branches.
Only people aged between 16 + 65 can open account online. (I'm not sure why there's an upper limit; maybe to do with free banking?).

BOI:
You can complete online through a web browser so long as you have a camera. Use of a smartphone App is not mandatory.
Sole, joint and 2nd level (aged 14+) accounts can be opened online. There doesn't seem to be an upper age limit, but only a standard current account can be opened. You then need to contact the branch and get a "Golden Years Conversion Form" as detailed by @Freelance below.

PTSB:
You MUST download their App, and start the application through that.
Only sole accounts can be opened. I didn't go much further with this, so if anyone else has they might expand.

Credit Unions:
There are 2 separate offerings of current accounts from Credit Unions, depending on which one your Credit Union has signed up to.
www.currentaccount.ie or www.mycu.ie
Some credit unions offer a free account to students and those aged 66 and over, but you should check with your Crefit Union if these concessions apply.
You must first become a member of the Credit Union if you aren't already. If you're already a member, and your CU offers current accounts, it looks like a fairly seamless process to open a current account.

An Post Current Account:
For opening online, they appear to be 'App first', so you download the App to register. However, without a Smartphone, you can complete a paper application, and drop into any Post Office to open.
Joint accounts can only be opened in person at a Post Office.
Banking available through Post Offices, Online, or App. The App is not mandatory.
There's a monthly charge of 5 euro, and I don't think there is a free option for over 65s?

N26:
Currently N26 are restricting the number of accounts they are opening for Irish customers, and have a waiting list. This is a temporary measure while they upgrade their onboarding platform.
N26 do not currently offer joint accounts.
 
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Hi Red

That is very useful. I see you say "for online opening".

But can you walk into a bank branch these days and open an account?

Brendan
 
Brendan Burgess said:
But can you walk into a bank branch these days and open an account?
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Yes, which is what my parents will end up doing if they're not comfortable doing it online. But some banks will require an appointment; probably best anyhow where you've 2 older people opening a joint account rather than having to wait around.

I'm sure the experience / helpfulness of staff will vary by bank & branch though.
 
RedOnion said:
The reason I didn't consider Credit Unions is I understand the 4 euro per month charge applies even to pensioners? Open to correction though.
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From the terms and conditions on www.currentaccount.ie
Concessions (where applicable)
Students aged 16 to 25 years inclusive may be eligible to apply for a fee concession if they are pursuing a verified full-time (21+ hours per week) course of study for one or more years.
Senior members aged 66 years and over may receive a fee concession where there is a verified date of birth on their account.
Where applicable, fee concessions may include a reduction in any of the monthly account maintenance fee, account transaction fees, debit card charges and certain service charges. Approved fee concessions are applied in the first full quarter following an accountholders application or eligibility. In the case of a joint account, both joint accountholders must be eligible for the fee concession for the fee concession to apply to the joint account.
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From the terms and conditions on www.mycu.ie
Concession Banking
From time to time we may provide concessions to Account Services and Account Transaction charges.
You may be eligible for these concessions if you are:
• Aged 16 or 17 years.
• Aged between 18 and 24 years inclusive and are engaged in full time education, for a minimum duration of 1 year.
• Aged 66 years or older.
If a concession is made available by the credit union in which you are an account holder and you meet the above eligibility criteria you may apply for this concession.
If your application for concession is accepted by the credit union your MYCU Current Account will be exempt from Account Services and Account Transaction charges.
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I wouldn't blame you for not finding it, you have to dig to to get to it. Also note that there is a separate Fees and Charges document for each and every CU Branch so presumably this could vary from one CU to another and even from one branch to another. Frankly, the wording is atrociously uncertain. But it does suggest that charges will not apply to those over 65.
 
RedOnion said:
My parents Credit Union doesn't mention it at all on their website.
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Just for the record, if the credit union offers a current account, the fees should be visible online, if not on the credit union's own website then it should be on the current account platform website.

To find the Fees & Charges on www.currentaccount.ie open the site and navigate as follows:
  • Click on Support (on the top line) and select Fees & Charges (from the dropdown)
  • Three quarters of the way down the page under the heading “Overdraft Fees” look for “For a full schedule of fees and charges for your Credit Union please click here” and click on the link.
  • This will open a new page. Scroll down to your Credit Union / Branch and on the right hand side click on “View Fees & Charges”
  • This will open a 2 page PDF; the Concessions appear at the bottom left of the second page.

To find the Fees & Charges on www mycu.ie open the site and navigate as follows:
  • Click on Help & Guidance (on the top line) and select Fees & Charges (from the dropdown)
  • Scroll down to your Credit Union / Branch and click on the + symbol next to the Credit Union/Branch name to expand the details
  • Click on the + symbol next to “MYCU Fees and Charges”
  • Click on the link to “Download PDF”
  • This will open a 6 page PDF; the Concessions appear in the centre of the fourth page.
Intuitive or what !!
 
I'm unsure between AIB and the Credit union current account offerings. Today we met with AIB to discuss switching from UB. We weren't impressed. The lady who met us at the door when we turned up for our appointment couldn't have been ruder if she tried. The lady who then met with us was better but took 40 minutes to say something that could have been done in ten. We ended up providing them with everything they need to open an account but didn't sign anything as TBH we are less inclined to go with them after this experience. Next up we'll call into the credit union.
 
Ceist Beag said:
I'm unsure between AIB and the Credit union current account offerings. Today we met with AIB to discuss switching from UB. We weren't impressed. The lady who met us at the door when we turned up for our appointment couldn't have been ruder if she tried. The lady who then met with us was better but took 40 minutes to say something that could have been done in ten. We ended up providing them with everything they need to open an account but didn't sign anything as TBH we are less inclined to go with them after this experience. Next up we'll call into the credit union.
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So we made another attempt with AIB and once again they put more obstacles in our way, mainly related to the proof of address and id requirements. The main reason we tried again was that ideally we would like one place for our bank and credit card accounts.
In the end we decided to try the credit union and the difference was night and day. We walked into our local branch with no appointment ( we were told we wouldn't need one) and the account was open within 20 minutes. There were no issues with either our proof of address or id. We'll transfer the direct debits ourselves and we should have our bank cards next week and also should be able to access our account online in a day or two. As we know the staff it was all informal and friendly.
Now to politely tell AIB that we got the hint and won't be proceeding with an account opening with them.
 
I am a customer of PTSB for several years and have some savings accounts with them. I have been using their app since the beginning.
They state on their webpage that the way to open a current account with them is online.
However after several attempts I failed . I then rang and was advised that even though I was a long standing customer with them I must visit a branch in order to open my account. They offered to make an appointment for me in 2 weeks but I declined and said I would not make a 40km round trip to do something that they are advertising can be done on line.
 
So I've started the process with BoI (mainly because they are the only one with a branch very near to us, although I appreciate that may well change).

After a month or so (I started on Dec 21st), I have a new Credit Card and a Current account setup. It's generally been pretty simple, but has taken longer due to holidays, Covid absences etc. I applied for a deposit account yesterday too, apparently ready by tomorrow which is good.

I've had to make a few calls as part of the process, and I have to say I've been very impressed with the staff I've spoken to, very efficient and friendly.

My disappointment so far is the mobile app - it has no FaceID on iPhone so it's much clunkier than the UB experience. It looks several years old tbh, doesn't have a modern user interface design. Even basic stuff, like the UB app having your name on it makes it so much more personal.

Either way, it's fine so far. Next is to set up a Joint Account!
 
I applied online on Thursday evening to open a new BoI current account (currently with Ulster Bank). I received an email confirmation stating that if approved, they would text me my new IBAN etc within 'one working day'. It's now Wednesday and still nothing. Just wondering did anyone else experience delays or is it just me?
 
Sweet Pea said:
I applied online on Thursday evening to open a new BoI current account (currently with Ulster Bank). I received an email confirmation stating that if approved, they would text me my new IBAN etc within 'one working day'. It's now Wednesday and still nothing. Just wondering did anyone else experience delays or is it just me?
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Took 3 or 4 days for mine to come through. Biggest delay for me was in getting the PIN for my card, that came a week after the card came.

I used the App to open my account, have to say it was very easy and straightforward
 
Same here, it said next day, it’s taken more like 4-5 days to complete for both my sole account and newly opened joint account.
 
Wiresandmore said:
Same here, it said next day, it’s taken more like 4-5 days to complete for both my sole account and newly opened joint account.
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You would wonder why they tell people it will be one day......better to tell them it will take four days and produce the goods after three days.
 
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