Traditional Banks
EBS
EBS originally stood for ‘Educational Building Society’ as it was established as a building society in 1935. In 2011, it was acquired by Allied Irish Banks (AIB) and became incorporated as a bank under EBS. Today, it remains a wholly owned subsidiary of AIB, trading as its own bank, with 66 physical EBS branches across the country.
Reading time: 8 min
Last updated: March 31, 2026
Table of Contents:
Written by:
Dan Malone
At a Glance:
The only traditional bank that offers a free current account for daily banking.
Web-only banking experience with no mobile app.
Debit card available but no digital wallet capabilities.
Is EBS Safe for Irish Customers in 2026?
EBS is a fully regulated Irish bank making it perfectly safe for use. The bank is authorised by the Central Bank of Ireland. EBS manages over €5 billion worth of deposits for its 0.5M+ customers. Deposits are protected up to €100,000 per depositor under the Irish Deposit Guarantee Scheme.
How Secure Is EBS?
| Security Feature | Available on Bank of Ireland? |
|---|---|
| Two-Factor Authentication (2FA) | Yes |
| SEPA Instant Limits | Yes |
| Personal Access Code (PAC) | Yes |
| Verification of Payee (VoP) | Yes |
EBS does not have a dedicated mobile app for daily banking. This means that much of the mobile security features found on modern current accounts are not available. These include one-tap card freeze, biometric security, quick balance and localised card protection among many others. You can still cancel and replace your card if it’s stolen, lost or damaged, but you’ll need to call EBS customer support to do so. For Strong Customer Authentication (SCA), EBS relies on a combination of unique identification numbers and two mobile authentication apps for online banking logins and debit card purchases.
Customer Support
EBS Internet Banking support is available from Monday to Friday (excluding public holidays) from 9am-5pm. Lost or stolen cards as well as fraudulent or suspected fraudulent activity can be reported 24 hours a day, 7 days a week.
How To Open An EBS Account (Est. Time: 2-3 Weeks)
Opening an EBS Money Manager Account, which is EBS’ current account, is a somewhat lengthy process. First, you need to fill in the ‘Contact Us’ form on the EBS website with your name, email, contact number, preferred time for a callback and your most convenient EBS branch. You will then need to book an appointment at your nearest EBS branch in order to open the current account. At this appointment, you’ll need to provide:
Proof of Identity: A valid passport or driving license
Proof of Address: A utility bill, bank statement or insurance renewal document issued within the last 6 months. Your proof must have your full name and address on it
Proof of Personal Public Service Number (PPSN): A P60, P45, P21, payslip including employer’s name or tax number, drug payment scheme card, european health insurance card, tax assessment, tax return form, PAYE notice of tax credits, child benefit award letter or pension book.
After the current account has been set up, you’ll be sent your EBS debit card in the post. This could take 3-7 working days. Once you’ve received your card, you’ll need to activate it by calling EBS. Then, you’ll need to register for online banking. Unlike most other banks, EBS does not offer a dedicated mobile app for daily banking. Instead, EBS customers must use ‘EBS Your Accounts Online’ for online banking services. This service can be accessed via mobile browser, although the bank admits that it’s a better user experience on a laptop or computer.
To register for online banking, you need to print an application form from their website, fill it out and send it to them by post. Once EBS has received your application, they will send you out three different numbers:
- 1Your Customer ID
- 2A 6-digit One-Time Code (OTC)
- 3Your Personal Access Code (PAC)
All-in-all, this part of the process could take between 6-14 working days. When you receive your PAC, you’ll need to contact the EBS support team to activate it. Once that’s done, you then need to download the ‘EBS Authenticator’ app from the App Store. The app will ask you to enter your Customer ID, PAC and 6-digit OTC. This will pair your smart device to your online banking profile. EBS online banking cannot be used without a paired smart device that has the EBS Authenticator app. Only one device can be paired to your online banking profile.
The EBS Authenticator app is needed to verify login attempts made to your online banking profile. Once you’ve paired your device, you can enable notifications for fast authentication of online banking logins. Alternatively, a new OTC can be generated in-app for authentication. Then, you go to ‘Your Accounts Online’ via web browser, enter your Customer ID and complete the login with your authenticator.
You’re not done yet. You’ll then need to download a separate app called the ‘EBS CardManager’ from the App Store. The purpose of this app is to authenticate online purchase attempts made using your debit card. After downloading the app and entering your details, you’ll be shown an ‘Activation Passphrase’. You need to call EBS support, answer some security questions and then tell them the passphrase shown on screen. You’ll then be sent an OTC to your mobile device which you’ll need to enter into the app. Finally, you need to set your own 4-digit passcode that’ll be needed to authenticate online purchase along with push notifications.
EBS Current Account Fees
| Fee | Description |
|---|---|
| Foreign Exchange Fees | 1.00% of euro value (€0.30 minimum, €6.00 maximum) |
| Non-Euro ATM Withdrawal Commission | 1.00% of euro value (€1.91 minimum, €6.00 maximum) |
| Foreign Exchange Fees | €5 |
| Unauthorised Overdraft | €6.35 |
| Unpaid Cheque | €4.44 |
EBS does not charge any monthly maintenance or transaction fees, making it a largely free banking experience with the exception of foreign currency transactions.
EBS Current Account Features
| Feature | Available on EBS? |
|---|---|
| SEPA Instant Transfers | Yes |
| Direct Debits | Yes |
| Standing Orders | Yes |
| Pay A Bill | Yes |
SEPA Instant Credit Transfer
EBS 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, ensure that your payment type 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.
Frequently Asked Questions
No, your EBS debit card cannot be added to a digital wallet like Apple Pay or Google Pay.
EBS MoneyManager is a free current account, but you get what you pay for. There’s no mobile banking, the onboarding process is lengthy, features are limited, there’s manual processes and no digital wallet.
Certain customers are apprehensive about moving their day-to-day banking to a fully digital bank. The EBS MoneyManager account could be used as a traditional backup account to store emergency funds at no cost should a customer experience an account restriction with a neobank.
To set up a standing order with EBS, you must fill out their Standing Order Form and either post or email it to an EBS office. The same process must be followed for amendments or cancellations of standing orders, which can then take up to 3 business days to take effect.
When logged into EBS online banking, select ‘Manage’ and then ‘New Bill’. You then choose the provider, reference number and a nickname for the bill.
When logged into EBS online banking, click the payments and transfers section and select ‘Pay a Bill’. Choose your payment account, the bill that you wish to pay as well as the amount and whether you want to use a SEPA Instant or Standard transfer.
When logged into EBS online banking, select ‘Manage’ and then ‘New Payee’. You then add the payee’s details and authenticate the action with your Personal Access Code (PAC).
Yes, you can’t use EBS online banking without the EBS Authenticator and you can’t verify online debit card purchases without the EBS CardManager.
This is a common issue faced by EBS customers with older devices. The EBS Authenticator app will only work on devices that support Android 8 and iOS 15 or higher. If your device isn’t compatible with these operating systems, you won’t be able to use EBS online banking.
If you’ve lost your registered device you’ll need to call EBS customer support. They can unpair your device and request a new one-time code (OTC) that can be used to pair to your new device.
You can transfer up to €5,000 to other bank accounts each day through EBS online banking.
EBS allows you to withdraw up to €600 from ATMs each day. A further daily withdrawal of €1,300 is permitted via over-the-counter cash at EBS offices, bringing the total to €1,900.
The maximum cashback transaction with EBS is €100 and may be lower at certain point-of-sale machines.
As EBS doesn’t support payments via digital wallet, the maximum contactless payment you can make is €50. Any payments in excess of that will require a chip and PIN.
EBS isn’t included on Zippay because the bank doesn’t offer a mobile app.
