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Open bank account in Ireland for not-residents
Banking sector in the Republic of Ireland has a long-term history and is considered as one of the most modern and stable systems. This country has branches of many largest international banks as well as local Irish banks that operate in the Republic of Ireland for decades. Irish banks are well-known as one of the safest banks in Europe. The legislation of this country enables stability and transparency for its clients. Top banks in Ireland offer loans, mortgages, investment options, corporate services, financial planning, wealth management and other banking products. There are one of the oldest banks in Europe which makes this country a well-known destination for high-net worth individuals and global corporations.
Irish banks follow the rules on preventing anti-money laundering and other illegal activities. Clients’ identities are verified as part of AML/KYC checks. Personal presence is required for the account opening procedure. However, most of the banks accept applicant’s documents online for preliminary review.
Irish banks’ clients benefit from excellent banking and customer services, extensive banking products and attractive returns on their investment. Many Irish banks support businesses through special programs that are designed for start-ups, small and medium-size companies. Local banks are dedicated to partner with businesses in many technological and innovative industries that makes a positive impact on its services.
What type of accounts is it possible to open in the Republic of Ireland?
Banks in Ireland offer all types of accounts. Companies may open corporate accounts with an extensive range of services, including internet banking, international transactions, currency exchange, loans, cards. Individuals open private accounts and get access to such banking products as mortgages, credit cards, savings, asset management. Banks in Ireland support most of the world currencies and provide convenient tools for managing accounts online.
What are the requirements for opening a bank account in Ireland?
Personal meeting with a bank officer is always required if you are an oversea client. Before you visit a bank, you may send your documents online for preliminary verification. Usually banks request the following documents:
- Passport or ID;
- Proof of residence, including utility bill, bank statement, driver’s license.
Together with company formation in Ireland, clients think about opening a business bank account with one of the Irish banks. Corporate clients submit the following document:
- Corporate documents, including articles of association;
- Certificate of good standing and other documents requested by a bank.
All documents should be in English or accompanied by notarized translation into English.
An applicant fills in a questionnaire about its business, customers, annual turnover. Irish banks are perfect at customer services as they are ready to provide with the most suitable banking products for individual or business needs.
What are the major banks in Ireland?
There are several international banks in Ireland that have a major presence in the country:
- Bank of Ireland Group
It is one of the largest banks in Ireland offering a full range of banking products, including mortgages, credit cards, savings, personal loans, current accounts, foreign exchange services, prepaid cards, and business banking products. The banking services are easily accessed through online and electronic channels.
- Allied Irish Bank
Having been operating since 1825, Allied Irish Bank is one of the leading retail and commercial banks in Ireland with over 200 branches. Its products include loans, investment and pension plans management, foreign exchange, online and mobile banking services.
- Ulster Bank Ireland
Ulster Bank is a well-known bank in Ireland being a subsidiary of Royal Bank of Scotland Group. The bank is favoured for its modern and convenient digital banking services, private banking services and insurance products.
Other major banks in Ireland include DePfa Bank, EBS d.a.c, KBC Bank, UniCredit Bank, Permanent TSB Group, Danske Bank, CitiBank (Ireland), etc.
How can I close a bank account in Ireland?
To close your account, you need to send a termination notice to your bank manager. Make sure that you paid all outstanding amounts to your bank and that you transferred funds to another bank. Once your termination notice is processed, your account is closed.