Consider Switching to Free Digital Banks as Traditional Fees Persist
Irish consumers are urged to compare free current-account options from neobanks with fee-charging traditional banks.
New digital banks are entering the Irish market with basic current accounts that carry no monthly fees, challenging the traditional banks that still levy annual charges of €48-€96. Monzo, Revolut, Bunq and N26 operate solely through apps and are licensed by European central banks, offering Irish IBANs and deposit protection up to €100,000. While they eliminate maintenance fees, they impose limits on free ATM withdrawals and may charge for cash deposits or cheque handling.
Traditional banks continue to provide branch access and cash-back services, which some customers still need. The piece advises consumers to assess whether a hybrid strategy—keeping a low-fee brick-and-mortar account alongside a neobank—or a full switch to a free digital account best suits their habits.
