Most Crypto-Friendly Banks in Ireland

Finding a bank that works well with cryptocurrency exchanges is not difficult as in Ireland they are generally crypto-friendly.

While some banks are friendly towards crypto transactions, others maintain restrictive policies. We've contacted the major Irish banks directly to bring you accurate, up-to-date information about their crypto policies.

This is info we have worked hard to collect, there are no affiliate links here, this is all solid research and some spending time on hold!

Here's what you need to know about the main Irish banks' approaches to cryptocurrency. Please note that cryptocurrency investments can be very volatile and experience extreme price volatility within short periods.

Permanent TSB

Crypto-Friendly Rating: 4/5

Permanent TSB takes an open approach to cryptocurrency transactions. Customers can transfer money from their PTSB accounts to crypto exchanges. There are no blanket restrictions on crypto-related transfers.

Key points:

-Allows transfers to crypto exchanges

-No specific bans on crypto transactions

-Standard fraud protection measures apply

-May contact customers about suspicious transactions

-Subject to standard daily transfer limits

The daily limit for online transfers to non-PTSB accounts is €10,000.

Bank of Ireland

Crypto-Friendly Rating: 4/5

Bank of Ireland allows cryptocurrency transactions. Their fincrime team might intervene if they think it might be a suspicious transaction, and require a conversation to proceed.

Key points:

-Permits transfers to crypto exchanges using SEPA via IBAN for current account holders Enhanced monitoring of crypto-related transactions

-May contact customers to verify suspicious transactions

-Standard €20,000 daily transfer limit applies

-Additional verification may be required for crypto payments

-For a new payee, within the first 48 hours, you can only transfer €1000 per day. After that it goes to €20,000.

AIB

Crypto-Friendly Rating: 1/5

AIB maintains the strictest stance on cryptocurrency among major Irish banks, effectively blocking direct transfers to crypto exchanges.

Key points:

-Does not allow direct transfers to crypto exchanges

-Customers must use intermediary services and one suggested by AIB was Revolut. However in CoinJar Ireland's experience Revolut does not work this way as intended. Even if successful, these intermediaries are still subject to monetary limits, usually around [€10,000] (https://aib.ie/ways-to-bank/transaction-limit-information).

-Additional steps required to move funds to crypto platforms

-Most restrictive policy among major Irish banks.

Revolut: Crypto-Friendly Rating 1/5

When considering crypto-friendly banking options in Ireland, it’s important to note recent challenges with certain institutions. Allied Irish Banks (AIB) maintains a blanket ban on cryptocurrency transactions.

Some customers have tried to transfer funds to intermediary services like Revolut for deposits to CoinJar Ireland. However, AIB has recently begun blocking transfers to Revolut when used for this purpose, citing internal compliance checks without providing specific reasons.

Additionally, Revolut has indicated that some transfers to cryptocurrency exchanges, including CoinJar UK Limited, may be rejected by the recipient's bank or due to Revolut's own restrictions on certain recipients. Revolut themselves sell crypto to their customers, so that may be a factor.

As a workaround, customers can consider using the above crypto-friendly Irish banks that permit direct transfers to licensed crypto exchanges like CoinJar.

Unfortunately, alternative services like Wise do not support transfers from their platform to crypto exchanges, though they do allow deposits from licensed exchanges in the UK or EU. For the most seamless experience, we recommend using one of the two Irish banks known to support crypto transactions.

Daily transfer limits

All three banks maintain a standard daily transfer limit of between €10,000 to €20,000 for electronic transfers, including those to crypto exchanges. Customers may be able to arrange higher limits through direct consultation with their bank.

Our recommendation

For Irish customers looking to trade cryptocurrency, Permanent TSB and Bank of Ireland offer the most straightforward options for funding your CoinJar account. While both banks maintain standard security measures, they allow direct transfers to crypto exchanges without requiring intermediary services.

If you're an AIB customer, you'll need to take additional steps such as using services like Revolut to fund your crypto accounts.

Remember that all banks maintain security measures to protect customers, and you may be contacted to verify suspicious transactions regardless of which bank you use.