Traditional Banks
Bank of Ireland
Bank of Ireland was established in 1783, making it the oldest Irish bank in operation today. It is one of the largest banks in the country, with a valuation of around €14 billion and over 160 physical branches across the country.
Reading time: 11 min
Last updated: March 31, 2026
Table of Contents:
Written by:
Dan Malone
At a Glance:
The oldest Irish bank still in operation today.
Extensive physical branch network.
Physical Security Key gives customers an extra authentication tool.
Is Bank of Ireland Safe for Irish Customers in 2026?
Bank of Ireland is a fully regulated Irish bank making it perfectly safe for use. The bank is authorised by the Central Bank of Ireland. The Bank of Ireland Group manages over €107 billion worth of deposits for its 4M+ customers. Deposits are protected up to €100,000 per depositor under the Irish Deposit Guarantee Scheme.
How Secure Is Bank of Ireland?
| Security Feature | Available on Bank of Ireland? |
|---|---|
| Two-Factor Authentication (2FA) | Yes |
| Biometric Login | Yes |
| Passcode | Yes |
| 365 PIN | Yes |
| User ID | Yes |
| Payment Limits | Yes |
| Freeze Card | Yes |
| Device Manager | Yes |
| Verification of Payee (VoP) | Yes |
When you register and activate online banking with Bank of Ireland, you’ll set a 365 PIN which is a 6-digit code. For security reasons you cannot use your date of birth, 6 of the same digits or a sequence like 123456. Bank of Ireland have made this code less important, but it may still be required when registering a new device to online banking, re-registering an existing device or regaining access to a locked account.
The first device that you use to log into the Bank of Ireland app becomes your registered device. You’ll need to set a 6-digit passcode for each registered device that uses the app. This passcode is separate to your 365 PIN. This is the code that you’ll use to login, authorise transactions, add payees and approve everyday banking actions. If you haven’t set a passcode, you’ll need your 365 PIN to log into online banking.
If you want to log into the mobile app without entering your passcode you’ll need to enable biometric logins (i.e. Face ID & Touch ID). When in the Bank of Ireland app, click the profile icon in the top right corner of the screen and click ‘Biometrics and Passcode’. From here, enable biometrics. If you need to freeze your card at any time, this can be done within the ‘Cards’ section of the app.
Bank of Ireland Physical Security Key (PSK)
If you don’t use the Bank of Ireland mobile app, you’ll need a Physical Security Key (PSK). A Bank of Ireland PSK is a physical device that generates unique codes to authenticate login attempts as well as other banking activities like adding a new payee, making payments and changing contact details. You’ll need both your 365 PIN and the code generated by your PSK to log into online banking without a registered device.
You can order a PSK over the phone, in-branch or online by completing a Physical Security Key Order Form. The PSK will arrive within 5-7 working days. When you receive your PSK you’ll need to:
- 1Turn the device on by pressing ‘OK’
- 2Enter 1254
- 3Create a 4-digit PSK PIN
- 4Activate the PSK online using the last 4 digits of the serial number found on the back of the device
When you log into online banking with your 365 PIN, you’ll need to turn on your PSK, enter your PSK PIN and press ‘1’ when ‘SELECT OPT’ appears on the device. You’ll then take the 6-digit code from the PSK and enter it into the relevant field in your web browser.
When adding a payee with 365 Online, after you’ve entered your 365 PIN, turn on your PSK, enter your PSK PIN and press ‘2’ when prompted to do so. A 4-digit code will appear on 365 Online which you’ll need to enter into your PSK. After that, a 6-digit code will appear on the PSK which you’ll need to enter into 365 Online.
When making a payment with 365 Online, after you’ve entered your 365 PIN, turn on your PSK, enter your PSK PIN and press ‘3’ when prompted to do so. A 6-digit code will appear on 365 Online which you’ll need to enter into your PSK. After that, an 8-digit code will appear on the PSK which you’ll need to enter into 365 Online.
Key Insight: If you get your PSK PIN wrong five times in a row your PSK will be blocked and you’ll need to request a new one from Bank of Ireland.
Customer Support
Bank of Ireland Online & Mobile Banking support is available from Monday to Friday from 9am-6pm (9am-5pm on bank holidays) and from 10am-2pm on Saturday. Lines are not open on Sunday. Lost or stolen cards as well as fraudulent or suspected fraudulent activity can be reported 24 hours a day, 7 days a week through the Freephone Emergency Number.
In addition, the Bank of Ireland social media team is available Monday to Friday from 9am-6pm on Facebook and from Monday to Sunday from 8am-8pm on X. Bank of Ireland also has a webchat service operating Monday to Friday from 9am-5pm (except bank holidays).
How To Open A BOI (Est. Time: 1 Week)
To open a Bank of Ireland current account, complete the online application process on the website. To do this you will need:
Proof of Identity: A valid passport, passport card, Irish or UK driving license or an EU National Identity Card.
Proof of Address: A utility bill, Revenue correspondence, bank statement, letter from an approved university, CAO letter, letter from Department of Social Welfare, health or home insurance document or a screenshot of the National Electoral Register. Your proof must have been issued within the last 6 months and have your full name and address on it.
Proof of Personal Public Service Number (PPSN): A P21, tax assessment, notice of tax credits, letter from Revenue showing your PPSN, employee detail summary, receipt for a social welfare payment, letter from the Department of Social Protection showing your PPSN, medical card, Drug Payment Scheme (DPS) card, European Health Insurance Card (EHIC), Payslip or a P45. This is required to apply for Bank of Ireland credit.
Bank of Ireland will ask you to confirm whether you’re applying for a sole or joint current account. You’ll also be asked if you’re a resident in the Republic of Ireland, a full-time student/recently graduated and aged 18 or over. Then, you’ll provide your mobile number, verify your email address, provide personal details and consent to a selfie to collect your biometric data. Once complete, you’ll scan your proof of identity and record a video of your face. This can be done using your mobile by scanning a QR code or using a link.
You’ll then upload your proof of address, confirm your employment details, your intentions with the account, the source of your funds, the branch where your account will be based, how much you expect to lodge each month, whether you’ll make international transfers and whether you’re a US citizen or tax resident in any other country.
Once you’ve submitted your application and it’s been accepted, Bank of Ireland will text you your BIC and IBAN within three days. Your debit card will be sent within 5-7 working days. The card PIN is sent separately. To activate online banking, you’ll need to call Bank of Ireland with your account number, verify your identity and set up a 365 PIN. The last 8 digits of your IBAN is your account number. You’ll then be given your user ID which you’ll use alongside your 365 PIN, and later your passcode, to log into your account.
Bank of Ireland Current Account Fees
| Fee | Description |
|---|---|
| Monthly Fee | €6.00 per month |
| ATM Withdrawal Fee | None |
| Foreign Exchange Fees | 2% of euro value (€11.43 maximum). |
| Non-Euro ATM Withdrawal Fee | 3.50% of euro value (€3.17 minimum, €11.43 maximum). |
| SEPA Bank Transfer Fee | None |
| Euro Bank Transfer: Non-EEA/UK | €12 |
| Non-Euro Bank Transfer: EEA/UK | Foreign exchange margin |
| Non-Euro Bank Transfer: Non-EEA/UK | €5 plus foreign exchange margin |
| Cash & Cheque Lodgement Fee | None |
| Non-Cash Lodgement Fee | None |
| Debit Card Transaction Fee | None |
| Direct Debit Fee | None |
| Standing Order Fee | None |
| Automated Direct & Credit Transaction Fee | None |
| Contactless Transaction Fee | None |
| Staff Assisted Transaction Fee | None |
| Unpaid Direct Debit, Standing Order & Cheque Fee | None |
Bank of Ireland Current Account Features
| Feature | Available on Bank of Ireland? |
|---|---|
| SEPA Instant Transfers | Yes |
| Direct Debits | Yes |
| Standing Orders | Yes |
| Apple Pay/Google Pay | Yes |
| Pay to Mobile | Yes |
Bank of Ireland now facilitates SEPA Instant Credit Transfer which allows you to send money to another bank account in ten seconds. SEPA Instant works 24/7 365 days a year and comes at no additional cost to you. To transfer using SEPA Instant, after your payee has been selected, enter the transfer amount and ensure that ‘When To Pay’ is set to ‘Instant’.
There is no reason to use ‘Standard’, which is a regular SEPA Credit Transfer, unless SEPA Instant isn’t accepted by the receiving bank account. This may be the case where you’re transferring money to a non-payment account such as a mortgage, loan or savings account.
You can use the Bank of Ireland app to navigate to a number of different Bank of Ireland product applications including personal loans, mortgages, credit cards, insurance, pensions, investments, savings accounts and more. In the Bank of Ireland app, simply click the ‘Apply’ tab to access these.
Frequently Asked Questions
You can transfer up to €20,000 to other bank accounts each day. This includes transfers to SEPA and non-SEPA bank accounts, but excludes direct debits, standing orders, card payments and transfers between your own Bank of Ireland accounts.
No, you can’t bypass Bank of Ireland’s overall payment limit of €20,000 by setting a daily SEPA Instant Limit greater than €20,000. SEPA limits can be set in the ‘Payments’ tab by clicking ‘Payment Limits’ and then ‘Set Instant Payment Limit’. You can set both a daily and per transaction limit.
Yes, in the ‘Payments’ tab, click ‘Payment Limits’ and then set a new overall payment limit. It will be set at €20,000 by default. You can only set an overall payment limit that’s less than or equal to €20,000.
To add a new payee, on the ‘Payments’ tab, click ‘Manage Payees’ and ‘Add Payee’. Enter the payee location, name, IBAN and reference.
You can transfer up to €1,000 in the first 48 hours to a new payee on Bank of Ireland.
To add a new payee, on the ‘Payments’ tab, click ‘Manage Payees’ and ‘Add Bill’. Select or set the bill name and enter your bill account number.
To set up a standing order, on the ‘Payments’ tab, click ‘Standing Orders’ and ‘Set Up A New Standing Order’. Enter the payee’s name and IBAN as well as the frequency of the standing order (weekly, fortnightly, monthly or yearly) and the start date for payments.
You can transfer up to €5,000 at a time with each standing order from your Bank of Ireland current account to SEPA bank accounts.
To set up a direct debit with Bank of Ireland, give the merchant (i.e. utility provider) your bank details (i.e. IBAN, BIC etc.) and they will send the request to Bank of Ireland for you.
Find the direct debit transaction on your statement, select ‘+’ or ‘View Details’ and click ‘Cancel’. Additional options are included in the ‘Payments’ menu of the app under ‘Direct Debits’. From here, you can cancel the direct debit mandate, refuse next/all direct debits, reactivate next/all direct debits or block/unblock the account to direct debits.
To make a future dated payment, after your payee has been selected, enter the transfer amount and ensure that ‘When To Pay’ is set to ‘Future Dated’. Select the date that the payment should be made.
Yes, go to the ‘Payments’ menu and select ‘Pay to Mobile’. Once you’re registered, you can receive money from other Bank of Ireland users via mobile. To send money, the recipient must be a Bank of Ireland customer registered for Pay to Mobile.
You can activate your Bank of Ireland debit card for online purchases in the ‘Cards’ section of the app. The physical card can be activated by making a chip and PIN purchase or withdrawing money from an ATM.
You can view your debit card PIN in the ‘Cards’ section of the Bank of Ireland mobile app by clicking ‘View Card PIN’.
Yes, you can open a joint account with Bank of Ireland. To do this, you must complete Bank of Ireland’s online application form.
Yes, Bank of Ireland offers four types of student accounts. The Smart Start Account (age 7-15), Second Level Current Account (age 12-20), Third Level Current Account (age 18+) and Graduate Current Account (age 18+). Conditions apply to each account.
Bank of Ireland allows you to withdraw up to €700 from ATMs each day, but this can be increased to €1,300 in-app, online or over the phone. Separate lower limits apply to withdrawals abroad depending on the country and ATM type.
