Business Banking in Ireland: Best Accounts for Small Business (2025)

Choosing the right business bank account is one of the first practical decisions for any new business in Ireland, whether you're a sole trader in Limerick or a limited company scaling in Dublin. Traditional banks and newer fintech challengers each offer different trade-offs on fees, speed, and features.

What do AIB and Bank of Ireland offer small businesses?

AIB and Bank of Ireland (BOI) remain the two dominant traditional banks for Irish SMEs, both offering business current accounts with monthly maintenance fees typically in the €20–€30 range plus per-transaction charges, though introductory fee waivers are common for the first 6–12 months. Their strength lies in access to business lending, overdraft facilities, merchant services, and in-branch support, which matters if your business regularly handles cash or needs a relationship banker for loan applications. Account opening for a limited company can take 2–4 weeks and typically requires company registration documents, proof of address, and in-person identity verification at a branch.

How does Revolut Business compare?

Revolut Business has become popular with Irish freelancers, startups, and e-commerce businesses for its fast online setup (often same-day approval), multi-currency accounts, and lower fees than traditional banks on plans starting free or from around €9–€29 per month for higher tiers. It integrates well with accounting software and offers virtual and physical cards for expense management. The trade-off is that it doesn't offer traditional business loans or overdrafts in the same way as AIB or BOI, and customer support is primarily digital rather than branch-based.

Is Wise Business a good option for international businesses?

Wise Business is particularly strong for Irish businesses that trade internationally, thanks to its transparent, low-cost currency conversion and the ability to hold and receive money in multiple currencies with local account details (including euro IBANs). There's no monthly fee — you pay only for what you use, such as currency conversion (typically 0.4%–2% depending on the currency pair) and transfers. It's less suited to businesses needing cash handling, lending, or a merchant terminal for in-person card payments.

What should I actually consider when choosing?

Ask yourself: do I need a physical branch and lending relationship (favours AIB/BOI), do I need fast, low-cost account setup and digital tools (favours Revolut Business), or do I trade heavily in foreign currencies (favours Wise Business)? Many growing Irish businesses actually use a combination — a traditional bank account for loans and larger transactions, paired with Revolut or Wise for day-to-day international payments and expense management.

What documents do I need to open a business account in Ireland?

Typically you'll need your Certificate of Incorporation (for a limited company) or business name registration (for a sole trader), a copy of your Memorandum and Articles of Association, proof of identity and address for all directors/signatories, and details of the nature of your business. Fintech providers like Revolut and Wise usually only require digital uploads, while traditional banks often still require an in-branch appointment.

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