Opening a business bank account is one of the first things you should do after registering your company in Ireland. It's a legal requirement for limited companies to keep business finances separate from personal finances. This guide covers everything you need to know — from which banks to choose, to what documents you'll need, and how long it takes.
Why You Need a Separate Business Account
- Legal requirement — limited companies must maintain separate financial records
- Liability protection — mixing personal and business funds can undermine your limited liability
- Tax compliance — Revenue expects clear business records for corporation tax returns
- Professional credibility — clients and suppliers expect to pay a company account
- Easier accounting — clean bank feeds make your accountant's job simpler and cheaper
Irish Banks Offering Business Accounts
AIB
- Ireland's largest business bank
- Free business banking for 2 years for startups
- Full branch network across Ireland
- Good online and mobile banking
- Application can take 2–4 weeks
Bank of Ireland
- Strong SME support programmes
- Business banking packages from €6/month after initial free period
- Extensive branch network
- Business advisors available
- Application typically takes 2–3 weeks
Permanent TSB
- Growing business banking offering
- Competitive fee structures
- Smaller branch network but good digital capabilities
Digital Options
- Revolut Business — fastest setup (can be same-day), multi-currency accounts, good for international businesses
- N26 Business — German digital bank with Irish presence
- Wise Business — excellent for international payments and multi-currency
- Note: some suppliers, landlords, and government bodies may require a traditional Irish bank account
Documents Required
Most Irish banks require the following to open a business account:
- Certificate of Incorporation — issued by the CRO after company formation
- Company Constitution — your Memorandum and Articles of Association
- Directors' photo ID — passport or driving licence for each director
- Directors' proof of address — utility bill or bank statement less than 3 months old
- Board resolution — authorising the opening of the account and naming signatories
- Details of beneficial owners — anyone holding 25%+ of shares
- Description of business activities
- Projected turnover — an estimate of expected annual revenue
How Long Does It Take?
| Bank | Typical Timeframe |
|---|---|
| AIB | 2–4 weeks |
| Bank of Ireland | 2–3 weeks |
| Permanent TSB | 2–3 weeks |
| Revolut Business | 1–3 days |
| Wise Business | 1–5 days |
Tips for Non-Resident Directors
If you've formed your company as a non-resident, opening an Irish bank account can be more challenging. Here are some tips:
- Start with Revolut Business or Wise — they have simpler KYC for non-residents
- Apply in person if visiting Ireland — traditional banks prefer face-to-face verification
- Have all documents apostilled — our apostille service can help
- Be prepared for enhanced due diligence — banks may ask additional questions about the source of funds
Next Steps After Opening Your Account
- Register for tax with Revenue — you'll need your bank details for tax payments and refunds
- Set up accounting software (Xero, Sage) and connect your bank feed
- Appoint an accountant
- Register for VAT if applicable
Form Your Company First
You can't open a business bank account without a Certificate of Incorporation. Register your company from just €240 with StartCompany.ie — typically ready within 3–5 business days. View our packages.