Should I Close My Bank of Ireland Account as a Non-EU Revolut user?

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noonamer

Registered User
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Hey everyone,

I'm originally from Ukraine but have been living in Ireland for over three years now. During this time, I've been using Bank of Ireland (BOI) as my primary salary bank and Revolut as my daily banking option.

Recently, I decided to transfer a significant portion of my funds from BOI into a savings account. Now, I'm wondering if it's still worth keeping my BOI account active. My main concern is that, as a non-EU citizen, there's a chance that Revolut could suspend my account at any time, especially if I experience delays in renewing my Irish Residence Permit (IRP). Additionally, if I were to move to another EU country, there might be further complications with Revolut.

I'm looking for insights or suggestions from anyone who might have a better understanding of this situation. Thanks in advance!
 
You might want to read this thread.

Use Revolut as my main bank, but my account is frozen and I can't get them to fix it

I decided to choose Revolut for my daily banking needs (having been a KBC customer until now). Last week I had my salary paid into my Revolut account for the first time. They put a block on my account to verify identity. I didn't notice at first because I tap for most things using my phone and...
www.askaboutmoney.com
 
The consensus for the likes of Revolut and most or all of the new online/Fintech banks seems to be to use them but always have a "regular" bank account as a backup. Why wouldn't you just keep your BOI account open?
 
ClubMan said:
The consensus for the likes of Revolut and most or all of the new online/Fintech banks seems to be to use them but always have a "regular" bank account as a backup. Why wouldn't you just keep your BOI account open?
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well, probably the main reason is the quality of what they give for their fees.
 
noonamer said:
well, probably the main reason is the quality of what they give for their fees.
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What specifically is lacking quality in terms of the service that they provide?

If you don't like the BOI fees then, as @S class mentioned above, you can get transaction fee free banking from EBS.
www.ebs.ie

EBS MoneyManager Account & Debit Card

The EBS MoneyManager is an account that focuses on the essentials - so managing your money becomes simple and straightforward. With this account you can also track your account online – register for our online banking facility and manage your account anywhere, anytime.
www.ebs.ie www.ebs.ie
 
ClubMan said:
What specifically is lacking quality in terms of the service that they provide?

If you don't like the BOI fees then, as @S class mentioned above, you can get transaction fee free banking from EBS.
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S class said:
Do you want a free Irish account to get your salary paid into ?
If so you could open a moneysaver account with EBS.
It's very basic but would do fine for transferring money to revolut.
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thanks guys
 
I’m just reading as AIB charges per transaction, if I move all my transactions to Revolut and keep AIB just for salary, should I be charged mostly nothing? or it is better to go with EBS then?
 
noonamer said:
or it is better to go with EBS then?
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It really depends on how you use the AIB account.
If you ever incur any day to day transaction charges on it then you'll probably be better off with the EBS account.
But there may be current account services offered by AIB that you use that are not provided by EBS.
 
ClubMan said:
It really depends on how you use the AIB account.
If you ever incur any day to day transaction charges on it then you'll probably be better off with the EBS account.
But there may be current account services offered by AIB that you use that are not provided by EBS.
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I have BOI for years with only a few:
1. Rent payment, which I can move to Revolut
2. Electricity, which for reliability I’ll have to keep I guess
3. Sending money to Revolut
So, I’m curious whether I should just move to AIB due to low standing charges.
Also, I dunno how hard is to move between banks in IRL
 
noonamer said:
So, I’m curious whether I should just move to AIB due to low standing charges.
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Why not just move to EBS who offer zero transaction charges?
Why AIB which does have transaction charges?
noonamer said:
Also, I dunno how hard is to move between banks in IRL
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Switching your bank account - CCPC

If you are unhappy with the service you are getting from your bank, or think you are paying too much for your current account, you can easily switch banks.
www.ccpc.ie www.ccpc.ie

Switching your bank account

Find out how to switch your bank account to a different bank.
www.citizensinformation.ie www.citizensinformation.ie
 
ClubMan said:
Why not just move to EBS who offer zero transaction charges?
Why AIB which does have transaction charges?
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EBS requires to go to the branch in order to open account and switch, also, I imagine to send money I have to do SEPA transfer.
In case my revolut got frozen (locked) there won't be any backup with EBS because no cards, etc
 
noonamer said:
My main concern is that, as a non-EU citizen, there's a chance that Revolut could suspend my account at any time, especially if I experience delays in renewing my Irish Residence Permit (IRP
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I don't think you need to worry about that. Banks don't seem to be interested in visas or residence permits once they have opened the account and obtained proof of address.
 
tomdublin said:
I don't think you need to worry about that. Banks don't seem to be interested in visas or residence permits once they have opened the account and obtained proof of address.
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that’s not entirely true, as I got asked few times already promising to suspend my account during delays with IRPs. But they have never actually done that, only asked
That was Revolut
 
noonamer said:
that’s not entirely true, as I got asked few times already promising to suspend my account during delays with IRPs. But they have never actually done that, only asked
That was Revolut
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I stand corrected then. Did Revolut ask for a copy of the new residence permit?
 
noonamer said:
yeah, asked me to upload through the app
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So Revolut knew that the residence permit you initially submitted when opening the account had expired and wanted to see a new one? I'm surprised they take this so seriously.
 
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