Remote Bank Account Opening As Part Of Your Company Formation
Once you have started your company in Ireland, opening a bank account is usually one of your next steps, but it needs to be completed in a correct order in association with your incorporation and compliance. Here you will discover the best business bank account for startups in Ireland.
Its critical to have a high quality company formation with all procedures checked so the bank account opening goes smoothly. Its our job to ensure that your company is positioned well to approach the bank without you tripping up in the process of opening a bank account in Ireland. We are happy to discuss your options with you on the phone prior to incorporation.
The Banks will do due diligence on your company to ensure its ready for the application and that’s where we come in. We ensure that your filings post incorporation are complete.
Looking for Banking Options
Talk to us today about your Banking requirements. We would be happy to talk you through it.
Must I have a Bank Account in Ireland?
No. There is no requirement stating that you must have a bank account in Ireland. This opens up many options for banking both within Ireland using online banks for Non-Resident Directors, and also banking abroad for your Irish Company.
You may have already set up banking abroad for other companies, talk to your banking partners about a Euro bank account for your newly incorporated Irish Company. We will ensure a high-quality incorporation and constitution of your company, positioning you well for this.
What to consider when looking for the best business bank account for startups in Ireland
- What is the online facility like?Banking online has become very popular in the last 15 years. Main stream banks have caught up with very good online facilities. Ask if you can see the online facility before you sign up online. This is a facility you will be using every day or every other day and you should be able to navigate your way around it easily.
- How do the banking fees work?
A common question especially for startups is what the fees are like? If you know your projected income and its volume online then you may be able to predict the fee structure cost with the bank. Many traditional banks offer no fees within the start up period. Online banks tend to have more simple easier to understand fee structure for banking fees. - Is the application cumbersome?
The process for applying for a bank account generally is more streamlined with online banks. Ask how long the process generally takes. Many banks have a online chat facility where you can get many questions answered about the bank account opening process. - Is there a banking app for multiple platforms?
All the banks listed on this page have an app for personal banking but some are more user friendly than others. Some do not have an app for corporate banking which means banking on the go is a little more cumbersome. - Does the Bank support startups?
Talk to your proposed bank about supports for startups. Many of the banks support start up companies with free bank accounts for a period. Ask them about this. What supports are there for fledgling businesses? - Are there credit facilities?
What credit facilities are there within the bank? Many traditional banks will have more credit facilities than online banks, but online banks like Revolut can assist you with overdrafts, and lines of credit. - Can I bank from Abroad?
Yes you can. There are options to apply for accounts from abroad, and also use a bank account outside Ireland. - Do Ulster Bank have a Presence in Ireland?
No. Ulster Bank who were part of Nat West Group UK left the Irish Market Place in 2023 after a prolonged wind down period. If you are based in the UK and you have relationships with Nat West you can talk to them about the opportunity of a Euro account for your newly incorporated Irish Company.
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What Kind Of Bank Accounts Are Available?
What Our Customers Are Saying
“I hate paperwork and for that reason, the company formation process gives me the heebie jeebies! Irish Formations were incredibly patient and helpful in breaking down the work flow needed to get the job done. With good humour and grace they hunted me down for the inputs I needed to make, and then seamlessly delivered on the project. I can’t imagine ever setting up a company with anyone else – there can be no better testament to their approach.”
Frank Hannigan
8674 registered users trust our process since 2009
Don’t hesitate to register a company today! We are happy to help you any step of the way.
What is Required To Open A Bank Account In Ireland
- RBO (Register of Beneficial Owners Registration)
The RBO filing is essential to have completed prior to approaching many of the banks below. We include this within our Premium Package for Irish Resident Directors, and Premium Package for Non-Resident Directors. The RBO filing is key to the success of your bank application. Talk to us about how to position yourself for the best options for banking in Ireland. - Full online or offline bank application form
More traditional banks like Bank of Ireland or AIB Bank will require a traditional application in the form of physical paper or a PDF application. If we a re Nominee Secretary we can assist with the application. We are partners with Revolut and Fire.com and have authorised them with our information if we are the Secretary of your company. - Identification
Photo ID and Proof of address are required for all banks. Online banks can have a very efficient process to accept these. Photo ID should be in the form of a Passport, and Address ID can be a Bank document, or a Utility bill. - Compliance
The bank will check your incorporation online to ensure that the information not only matches your application, but they will also check the standard of the Incorporation. When you choose Irish Formations we will ensure that your data for the incorporation is correct. You get a chance to review it and amend it if required before we submit the data to the Companies Registrations office. Your Constitution of your company is a key document for compliance and we have a Corporate lawyer to ensure high standards of this key information.
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What Banks Can I Consider For Bank Account Opening?
Traditional Brick & Mortar Bank
You might need to visit but many banks have remote opening facilities.
Banks with Savings Facilities?
If saving is important to your company then consider the facilities available.
Online banks with low charges?
Speak to the banks about the services you need and the transaction volume of your business.
Customer Support
Critical to most businesses, customer support is key. Talk to the bank about a key contact that you can call when needed.
Can I Bank Outside Ireland?
Yes. There is no reason why you need to bank within Ireland unless you need to or have been advised to. You should link your current bank account for the company to your Limited company however. In this article we will go through all your options including banking within and outside Ireland.
Which Banks provide the best business bank account for startups in Ireland?
You have lots of choice including the following bricks and Mortar traditional banks and online banks based in Ireland.
AIB Bank
AIB Provide all the services of a traditional bank:
About AIB
AIB Bank have been present in Ireland since 1966 and were known as one of the “Big Three” until Ulster Bank which was part of Nat West Group Left. AIB Group plc is owned by the State of Ireland which, nonetheless, since the start of 2022 has begun to gradually sell part of its shareholding.
How do you open a business bank account with AIB?
Step One: you will need to attend a meeting at a branch to open a bank account with AIB. One Director and other Authorised persons will need to be present at the initial meeting.
Step Two: Make the application on the AIB forms and ensure that the Directors and the company Secretary sign the documents. Authorised persons with access to teh account will also need to sign and are separate to the Directors if needed.
Step Three: Submit the application ensuring it is fully complete with your Certificate of Incorporation and Constitution and wait for further instructions.
Bank of Ireland
Services Bank of Ireland include:
About Bank of Ireland
Bank of Ireland Group plc is a commercial bank operation in Ireland and one of the traditional Big Three Irish banks. Historically the premier banking organisation in Ireland, the bank occupies a unique position in Irish banking history.
How do you open a business bank account with Bank of Ireland?
Step One: Go to the Bank Of Ireland website and apply online if you are a limited company or a Sole Trader. Foreign non resident companies may need to travel to Ireland for a meeting with Bank of Ireland.
Step Two: Go to the Bank of Ireland website. There is an online process for Limited Companies and Sole Traders and they use docusign, an online document signature facility in many cases for signature which is very efficient.
Step Three: Follow the instructions online to finalise the opening of the business bank account. If you are a foreign company, we may request that you visit Ireland.
Permanent TSB (PTSB)
Services PTSB provide are as follows:
About PTSB
Permanent TSB Group Holdings plc, formerly Irish Life and Permanent plc is a provider of personal financial services in Ireland. Irish Life Assurance plc and the Irish Permanent Building Society merged to form the Irish Life and Permanent Group in 1999 and the merged entity acquired the Trustee Savings Bank in 2001.
How do you open a business bank account with PTSB?
Step One: You will need to make an appointment with a member of the business team and file the appropriate applications. Choose a Branch on the PTSB website close to your Business address.
Step Two: Bring Photo ID in the form of a Passport and proof of address in the form of a Utility Bill. Bring your application and your certificate of Incorporation and Constitution.
Revolut
Revolut provides the following:
About Revolut
Revolut is a global neobank and financial technology company that offers banking services. Based online Revolut has many free every day benefits for personal banking and Irish Formations are channel partners for Business Banking.
How do you apply to Revolut?
Step One: Irish Formations, as Channel Partners, follow a unique referral procedure issued by Revolut. We will automatically send you an email once your company is incorporated, enabling you to open a bank account with Revolut.
Step Two: Apply through the link provided and process the application following the instructions issued by Revolut.
Step Three: Watch your application online and its progress. Follow any other instructions issued to you. You can complete this application entirely online using the Revolut app for Android or iOS or by following the link we provide once your company is incorporated. The Revolut application process operates seamlessly, and they actively provide you with necessary information throughout the process..
Fire Financial Services
Fire provides the following:
About Fire
Fire are an award winning payments provider who help businesses set up accounts for personal and business use. Fire help businesses to manage payments with digital accounts and debit cards, supporting a range of payment services all accessible via a powerful API.
How do you apply to Fire?
Step One: We are a referrer through their channel partner program and can email you an application link which relates to our process. This creates efficiencies in the process and Fire know our business and the quality of the Constitution of the company.
Step Two: Process your application online following carefully the instructions by Fire.com They will require your application in full and also supporting documents like the Constitution, Cert of Incorporation both which we issue to you.
Wise
Wise provides the following:
About Wise
Wise was launched in 2011 with the vision of making international money transfers cheap, fair, and simple. Today, our multi-currency account helps millions of people and businesses manage their money across the world.
How do you apply to Wise?
Step One: Go to the website and start the process. Wise offers an online process that has received compliments for its ease of use. All the information you provide to Wise and the banks must be verified against the data supported by our Incorporation.
Step Two: Wait for wise to return to you by email or online verifying your information.
Need To Talk To Us
We know Banking is a critical part of your new start up. Speak to our Managing Director today about the options and the Incorporation Process to find the best business bank account for startups in Ireland. We will guide you through all your options. We can go through your circumstances and then give you the best quotation and way forward for your incorporation.
What Do I Need To Do Before Opening My Business Bank Account?
Before you set up your business bank account you will of course firstly need to complete your company registration in Ireland. There will be a number of documents the bank will require which you can only obtain from a company formation. This is our area of expertise and we can conveniently get you started on your incorporation journey today. Here at Irish Formations we aim to make the process as simple and straightforward as possible. Our team are experts in the area of company set up and we can ensure accuracy, quality and efficiency to all our clients. See below for a step by step guide of how we set up your company and everything you need to get to the point of incorporation.
Company Formation Checklist:
Our process:
- Have a chat with Our Managing Director to discuss your options
The first step will be a call with our managing director for every new client. He will talk you through all your options and the necessary specific requirements for you and your company. Prices and requirements vary depending on a number of factors such as company type or residency. - Placing your order
After your discussion and having decided on how to proceed you will make an account with us and place your order for your company. The following information will be required:
- Checking of documents and confirmation of information given
Our team will then check all your information and correspond with the CRO to have your company name approved. We will liaise back and forth with them until everything is 100% accurate. This generally takes around 5 – 6 working days but can vary depending on CRO processing times. During this time you will also be emailed by a member of our team to provide us with a trading address and to confirm your PPS number. - Confirmation of PPS number/ VIF Application
Once all information is checked and approved by the CRO we then generate the official documents for submission. At this point we also ask for confirmation of your PPS number. This is a new incentive brought in by the CRO and has become a legal obligation for all company directors. If you do not have a PPS number then you will need to obtain a VIN (Verified Identity Number). We include this service as part of your company formation package and can handle all paperwork and filings for you. It is important to note that you can not form a company without obtaining this number. We then cross check everything and once everything seems in order we will then upload your final submission and await your incorporation. - Submission to CORE to await your official incorporation
After all documentation is processed, the CRO will then issue your certificate of incorporation. Our team will then draw up your official company documents which will then be added to your account for digital viewing. The physical documents will also be posted out to you.
Our Company Formation Packages
Irish Resident Director Package
Choose from our packages for Irish Resident Directors, offering tailored options to meet your specific needs.
Starting from
€219(+VAT)
Accountant/Legal
Package
Register a company for your client if you’re an accounting or legal practice in Ireland, ensuring compliance and efficiency.
Starting from
€199(+VAT)
Non-Resident Director Package
Special package for directors abroad to register a company in Ireland, ensuring compliance and ease of setup.
Starting from
€445(+VAT)
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