There are a number of reasons you might want to switch your bank account; your fees are too high, your bank doesn’t offer services to fit your needs or maybe your bank is closing down. Whatever the reason may be, once you have decided on your new provider, you will be relieved to know that the process of changing your bank in Ireland isn’t too much hard work – especially when you know where to begin.
We have covered everything you need to know about how to switch bank accounts in Ireland, including how to transfer your account to another bank and what documents you will likely need.
How do I change my bank account in Ireland?
Before you go ahead and make the switch to a new bank, it’s important to consider a few things to make sure you choose the bank that’s right for you, these include:
- Your preferred method of making payments (cash withdrawals from an ATM or directly through a card?)
- Your preferred method of communicating with the bank (in person, online or over the phone?)
- What fees you may be liable to pay with a certain bank (these can include maintenance fees, ATM withdrawal fees or overdraft fees)
Once you have chosen the bank that suits your needs, you can begin the switching process! In Ireland, there are two methods you can use to switch bank accounts.
1. Switching service
The Central Bank of Ireland switching code was established to help make switching bank accounts between Irish banks a lot easier. The process is pretty simple – choose your new provider and open up a current account with them. Fill out an account transfer form (sometimes referred to as a switcher form) and agree on a switching date with your new provider and your current bank.
2. Switch yourself
If you would prefer to have complete control over the switching process, you can choose to make the switch yourself. This process is slightly more complex and will require you to make a list of regular payments that are due, any direct debits that come through your account and take note of any standing orders or overdrafts. Once you have switched to your new account, remember to update any payments or direct debits with your new bank details.
Make sure to keep note of the time of the month when activity in your account is generally quite low, this will be the best time to switch.
Can I transfer my account to another bank?
Nearly every bank will have a dedicated switching team who will be able to walk you through the step-by-step process of switching your bank account to your chosen provider. The switching process is probably the easiest way to approach this.
What documents do you need for switching bank accounts?
Most banks will require all new customers to provide the following documents:
- Identification (a current passport or driving license to verify your name)
- Verification of your permanent address (a current household or utility bill or a financial statement)
If you do not have access to the above documents, speak with the customer service team in your chosen bank who should be able to guide you through your other options.
Which bank is best for a current account?
There are plenty of options for current account providers in Ireland and unfortunately, there is no straight answer to which is the ‘best’ – this will entirely depend on your individual needs and wants from your bank. When looking through the various options, remember to think about how you generally prefer to make payments, how you like to communicate with your bank and what fees you expect to pay.
If you tend to do all your banking online, it might be worth considering an alternative to a traditional bank account such as the digital account with Money Jar. You can find out more here.
Money Jar is a simple and straightforward approach to a digital account. We make things like setting up a bank account a lot more simple with just a few simple steps. First, download the Money Jar app, next, register your personal details and finally simply verify your identity using a standard form of identification such as a passport or driving licence.
We provide lots of ways to help you stay on top of your spending and make the process of setting up an account easy. Find out more about how we can help you have the freedom to be better with money and everything else you need to know about signing up for a digital account with Money Jar here.
We recognise the importance of an Irish-backed business for safeguarding your money. Your money is always secure and held in Tier 1 Irish bank. Your Money Jar Prepaid Mastercard is issued by PFS Card Services (Ireland) Limited pursuant to a license from Mastercard International Incorporated.
