PTSB offers business current accounts to sole traders, partnerships and limited companies in Ireland. The correct application and documents depend on the legal customer, so start by deciding whether the account belongs to you personally as a sole trader or to a separate incorporated company.
This guide summarises PTSB's current published process as of August 2026. Product features, fees, forms and eligibility can change, and every account remains subject to identity, address and customer due-diligence checks. Confirm the live requirements on PTSB's website before submitting personal information.
Current application route
PTSB says sole traders, partnerships and limited companies can apply through its online business current-account process. Its business team can also assist by phone or through the branch network. Approval is not automatic, and the bank may ask for more evidence than the standard checklist.
Choose the correct business type
A sole trader is the account holder personally, even if a registered business name is used. A partnership has its own mandate and partner information. An Irish LTD is a separate legal person and applies in the company's name after incorporation. Do not use a personal-current-account application to try to open the company's operational account.
The official PTSB Business Current Account page links separate application forms for sole traders, partnerships and limited companies or incorporated charities. Select the form that matches the legal structure shown in the CRO records.
PTSB document checklist for a limited company
PTSB's business-account document guidance lists standard items by customer type. For a limited company, the published list includes:
- Proof of identity and proof of address for all account signatories.
- Proof of address for all people who will use internet banking.
- A bank mandate, available through the bank.
- The company's Certificate of Incorporation.
- A Certificate of Registration of Business Name if the company trades under a different registered name.
The same guidance says the bank must be notified of shareholding changes and may require confirmation of the ultimate beneficial owner where a shareholder with at least 25% is not an individual. In practice, prepare a current cap table and ownership chart even where the immediate shareholders are individuals.
Additional information the application may ask for
PTSB's business application materials ask about the nature of the business, source of funds, turnover, expected transaction types, international payment countries and signatories. Prepare accurate answers before starting:
- What the company sells and how it earns revenue.
- Expected annual turnover and monthly account activity.
- Whether it expects cash, cheques, card receipts or electronic transfers.
- Countries outside the EU or UK from which money will arrive or to which it will be sent.
- The source of the opening funds and later founder or investor funding.
- Who may sign and how many signatures are needed for payments.
- The natural persons who ultimately own or control the company.
Keep these answers consistent with the company website, contracts, CRO activity, tax registration and RBO record. A precise description is more useful than “services,” “ecommerce” or “consulting” without detail.
Step-by-step PTSB application plan
- Review the current PTSB product, fees and eligibility for your business type.
- If applying for an LTD, complete Irish company formation and obtain the certificate and company number.
- Prepare the identity and residential-address file for every signatory and internet user.
- Prepare the ownership chart, activity summary, source-of-funds explanation and transaction forecast.
- Use the matching online application or arrange help with PTSB's business team.
- Respond to requests for extra documents without changing the underlying business explanation.
- Wait until the account is approved and operational before publishing it as the company's payment route.
Fees and account features
PTSB describes online access through Business24, a Business Visa Debit Card, payments, optional overdraft applications and other business-banking services. It also states that transaction fees and quarterly charges apply. Review the current charges booklet and terms rather than relying on an old fee quotation from a comparison site.
Compare costs against your real payment pattern: euro transfers, international payments, cash or coin lodgements, cards, multiple users and accounting exports. An account with a low fixed charge may not be the lowest-cost choice once transaction and foreign-exchange costs are included.
What non-resident founders should confirm
The general PTSB product page does not promise that every overseas-director structure will qualify. Before relying on PTSB, give the bank the exact director, shareholder, signatory and operating countries and ask about remote identification, branch attendance, acceptable foreign proof of address and certified documents.
Prepare evidence of the Irish commercial connection and read our non-resident banking guide. Neither a registered office nor a non-resident formation package guarantees account approval.
Form the company and prepare banking in parallel
StartCompany.ie can prepare the company documents PTSB may need, while PTSB remains solely responsible for onboarding and approval. Compare Irish company formation packages and build the identity, ownership and activity file at the same time to avoid waiting until after incorporation to discover missing evidence.