Switching your current account

What to know before you switch current accounts

Switching your current account in Ireland can be done either by managing the process yourself or by using the Central Bank’s Code of Conduct on Switching Accounts. Before you begin, think about what you need from your new provider, including fees, branch access, digital wallets and overdraft facilities.

You’ll need to update your payments, set up your new account correctly and notify anyone who pays into it. This page explains both switching methods and gives practical guidance to help you move your account safely and avoid common pitfalls.

How can you switch your current account in Ireland?

Whether you choose to use the DIY Method or the Code of Conduct on Switching Accounts, the first thing you need to do is ask yourself what you require from your new provider:

• Do you need access to a physical branch for services like cash lodgements, or is your banking entirely online?
• Do you use digital wallets?
• Do you currently have an overdraft?
• Does the prospective new bank offer an overdraft facility, and if so, at what interest rate? Do you have to clear your old overdraft before you move?

Understanding how you use your account with your current provider can help guide you in choosing the best option for you. Always read the terms and conditions of a new bank account and don’t be afraid to contact the new bank to ask questions so that you make the most informed decision possible. 

The DIY Method of current account switching – what to know before you start

Step 1: Get ready to switch

Before opening a new account, take time to:

• Review your bank statements and list all regular payments – including direct debits (e.g. electricity, gas, mortgage), standing orders (e.g. rent), and recurring card payments (e.g. streaming services, gym memberships).
• Note incoming payments like your salary, Department of Social Protection payments or transfers from friends or family.
• Think about your banking needs – do you need access to a physical branch for cash lodgements, or is online banking enough? Can you use digital wallets?

Once you’ve mapped your account activity, choose a quiet time of the month to switch – ideally when no major payments are due. Then, contact the provider that best suits your needs.

Step 2: Pick a new provider

Reach out to your chosen bank to learn how to open a new account. This may be done online, via an app or in person.

Before opening a new account, you will require:

• Proof of identity: For example, a passport, an EU driving licence, a travel document, a national ID card or a public service card.
• Proof of address: For example, a utility bill, financial provider correspondence, a government letter, an insurance document or a Tax Credit Certificate.
• Your ID: This must be valid and match your proof of address. Your proof of address should be less than six months old, or 12 months for insurance and mortgage documents.
• You may need bank statements from your old bank account.

If you have an existing overdraft, discuss transferring it with your new bank. You may need to apply for a new overdraft facility. If it’s not approved, you may need to clear your balance before switching.

Not all banks offer overdrafts, so check in advance. If they do, ask about the interest rate and any conditions.

Step 3: Start switching

Once your new account is open:

• Begin updating your payment details.
• For recurring card payments, notify providers (e.g. streaming subscriptions or your gym) and give them your new card details – these are not direct debits and won’t transfer automatically.
• Set up any direct debits or standing orders (e.g. rent or bills) with your new bank – this can usually be done online.
• Share your new BIC and IBAN with anyone who pays into your account, such as your employer, the Department of Social Protection or transfers from friends or family.

Code of conduct on the switching of payment accounts

Another way of switching is using the Central Bank of Ireland's Code of Conduct on the Switching of Payment Accounts with Payment Service Providers (sometimes known as the Switching Code).

There are a number of things to consider first:

1. The Code of Conduct on Switching Accounts applies only to banks operating in Ireland that offer full current accounts and are signed up to the scheme. This includes: AIB, Bank of Ireland, Permanent TSB and credit unions offering current accounts.
2. Fintech/digital banks are not part of this scheme, so they do not offer switching packs or participate in the formal switching process. 
3.  A switch can fail if your account has too much activity on it.
4. The Code of Conduct on Switching Accounts doesn’t switch card payments – recurring card payments (e.g. streaming subscriptions or your gym) are not transferred automatically and must be updated manually.        

Note: The Code of Conduct is a statutory requirement (not voluntary), and financial service providers must follow it. It is enforced by the Central Bank of Ireland, which has the power to investigate breaches and take enforcement action where necessary. 

For more information, visit the Central Bank of Ireland website.

Using the code of conduct on switching accounts

Start with your existing account and take note of all the payments you receive and make on a regular basis, the fees you pay your current account provider and all the services you currently avail of.

This means you will have a clear list to make a comparison against other providers. 

• Use the CCPC’s independent Current account comparison tool to compare all fees and services for providers in Ireland, as regulated by the Central Bank of Ireland. 
• Think about all the services you need, such as branch access or online banking or an overdraft facility. 
• Consider how you usually pay for things – for example, using a digital wallet, or with your smartphone or smartwatch. 
• Make sure your new bank supports these payment methods if you already use them.
• Visit each bank’s website for full details on what they offer and then contact the provider that suits your needs.

Go to our dedicated page on choosing a current account for more information. 

Step 1: Opening a new account with a new bank  

Before opening a new account, you will require the same documents as with the DIY Method. 

• Proof of identity: For example, a passport, an EU driving licence, a travel document, a national ID card or a public service card.
• Proof of address: For example, a utility bill, financial provider correspondence, a government letter, an insurance document or a Tax Credit Certificate. 
• Your ID: This must be valid and match your proof of address. Your proof of address should be less than six months old, or 12 months for insurance and mortgage documents.
• You may need bank statements from your old bank account.

If you have an existing overdraft facility and want to transfer it, you should discuss this with your new bank as you will need to make an application. 

Step 2: Get a switching pack from your new bank

When using the Code of Conduct on Switching Accounts, your new bank will give you a switching pack:

• Account options and switching guide
• Terms and conditions
• Fees and interest rate guides
• Account transfer form
• Contact details for appointments

Keep in mind that not all banks offer an overdraft facility, so make sure to check with your new bank. If you have an overdraft:

• Discuss transferring it with your new bank or you may need to clear your balance first.
• Choose a switching date when your account has low activity (e.g. no major direct debits due).
• Your new account must be active within 10 working days of the agreed switching date.
• Decide whether to keep or close your old account – keeping it may mean paying fees or stamp duty on cards associated with that account.

Step 3: Making the switch 

Your new bank will send the switching pack/form to your old bank.

Your old bank will:

• Notify companies with direct debits of your new details 
• Note that they may not notify international companies, so we recommend you double-check these personally 
• Send your standing orders to your new bank

You should:

• Inform payers: Send your new BIC and IBAN to anyone who pays into your account, such as your employer or the Department of Social Protection. 
• Record payments: Note down all direct debits, standing orders and recurring payments linked to your old account. 
• Notify any providers that charge recurring card payments (such as streaming services, gyms or subscriptions). These are not direct debits, so you’ll need to give them your new card details directly.
• Double-check that standing orders are set up correctly.
• Leave enough money in your old account to cover any fees.
• Avoid using your old debit card during the switch.

Your new account is up and running

You have now switched using the Code of Conduct on Switching Accounts or the DIY Method. Once the switch is complete:

• Your new account will be active
• Your old account will be closed or left open, depending on your choice

If you didn’t register for online banking, do so now to monitor payments and salary, deposits, etc.

Once you’ve confirmed that all payments have moved to your new account, you can transfer the balance from your old account to your new one and close your old account.

Each bank has its own process for closing an account and you may need to either send a written instruction to them or go into a branch to close your account.

When you open your new account, you will receive a new debit card. Destroy your old ones.

If you are closing a joint account, you may need to go into the branch and it may require both account holders' signatures.

This won’t be the case for digital banks/fintechs. You can find out how you can close your digital bank account by going to their website.

Before you close your old account

Finally, whether you use the Code of Conduct on Switching Accounts or the DIY Method, before switching, it’s a good idea to download and save your recent bank statements.

You may lose access to your old account’s online banking once the switch is complete, so having a record of your transactions can help with budgeting, tax returns or resolving any payment queries later on.