Software Comparison

AIB Business Current Account vs Bank of Ireland Business - Irish business-banking Software Compared

Choosing between AIB Business Current Account and Bank of Ireland Business is one of the most common decisions Irish businesses face when evaluating business-banking software. This comparison breaks down everything an Irish SME needs to know, from Revenue integration and GDPR data residency to pricing and ease of use.

View AIB Business Current Account View Bank of Ireland Business

Last verified: 25 May 2026 data verified to the older of the two vendor profiles Methodology

Quick Verdict

AIB Business Current Account vs Bank of Ireland Business - Feature Comparison

Feature	AIB Business Current Account	Bank of Ireland Business
Monthly Pricing (approx.)	From EUR 4 per month (equivalent of quarterly maintenance fee for a small account); per-transaction fees apply on top	From EUR 6 per month; per-transaction fees apply on top
Start-Up Fee Waiver	Two-year waiver on maintenance and transaction fees for Business Start-Up customers (cash handling fees excluded)	No equivalent start-up fee waiver
Irish IBAN Issuance	Irish (IE) IBAN issued as standard; supports ROS Direct Debit set-up for Revenue VAT3, PAYE, and Corporation Tax	Irish (IE) IBAN issued as standard; SEPA Direct Debit supported
SEPA and Bulk Payments	SEPA Credit Transfer, SEPA Direct Debit, pain.001 and pain.008 via Internet Business Banking (iBB)	SEPA Credit Transfer, SEPA Direct Debit, pain.001 and pain.008 via Business On Line (BOL)
Lending and SBCI Access	Overdrafts, term loans, asset finance, merchant services, and SBCI Growth and Sustainability Loan Scheme on-lending	Overdrafts, term loans, merchant services, and full lending suite; no confirmed SBCI scheme participation in available data
Irish Bank Feeds	Direct feeds to Xero, Sage Business Cloud Accounting, QuickBooks Online, and BrightBooks	Direct feeds to Xero, Sage, QuickBooks, and BrightBooks
Deposit Guarantee	Irish Deposit Guarantee Scheme; eligible deposits covered up to EUR 100,000	Irish Deposit Guarantee Scheme; eligible deposits covered up to EUR 100,000
Revenue and PAYE Integration	No native Revenue ROS integration or PAYE Modernisation at bank level	No native Revenue ROS integration or PAYE Modernisation at bank level
Pricing
Starting Price	From €4/month	From €6/month
Free Trial	✗	✗
Irish Compliance
Revenue Integration	✗	✗
PAYE Modernisation	✗	✗
Irish Bank Feeds	✓	✓
GDPR Data Residency	EU	EU
SEPA Direct Debit	✓	✓
Irish IBAN Support	✓	✓
VAT Handling	✗	✗

Irish Compliance Comparison

For Irish businesses, compliance with Revenue, GDPR, and local banking standards is non-negotiable. Here is how AIB Business Current Account and Bank of Ireland Business compare on the requirements that matter most to Irish SMEs.

Revenue Integration

Neither AIB Business Current Account nor Bank of Ireland Business offers native Revenue Online Service integration. Irish businesses in business-banking may not need this feature directly, but should ensure their accounting software handles Revenue compliance separately.

Irish Bank Feeds

AIB Business Current Account supports SEPA Credit Transfer, SEPA Direct Debit, Pain.001, Pain.008. Bank of Ireland Business supports SEPA Credit Transfer, SEPA Direct Debit, Pain.001, Pain.008. Both support the same Irish banks, so bank compatibility is not a deciding factor here.

GDPR Data Residency

Both AIB Business Current Account and Bank of Ireland Business store data in EU data centres, providing strong GDPR compliance out of the box. Irish businesses can use either platform without worrying about cross-border data transfers to the US or other non-EU jurisdictions.

SEPA and IBAN Support

Both AIB Business Current Account and Bank of Ireland Business support SEPA Direct Debit and Irish IBAN format. This means you can process euro payments, set up direct debits, and handle bank transfers in the standard European format without any manual workarounds.

VAT Handling

Neither AIB Business Current Account nor Bank of Ireland Business handles Irish VAT directly. This is expected for business-banking tools - your accounting software should manage VAT compliance.

Pricing Comparison

All prices below are in euro. Pricing can change - we verify vendor pricing monthly, but always confirm on the vendor's website before purchasing.

AIB Business Current Account

€4 /mo

Pricing model: Flat rate
Free trial: No
EUR pricing guaranteed: Yes

View AIB Business Current Account pricing →

Bank of Ireland Business

€6 /mo

Pricing model: Flat rate
Free trial: No
EUR pricing guaranteed: Yes

View Bank of Ireland Business pricing →

At entry level, AIB Business Current Account is the more affordable option. However, total cost of ownership depends on the number of users, add-ons, and features your business requires. Always calculate the full annual cost for your team size before committing.

Who Should Choose AIB Business Current Account

AIB Business Current Account is the better fit if your business matches one or more of these profiles:

✓ Budget-conscious businesses - AIB Business Current Account starts at just €4/month
✓ Those who value: branch network across ireland and irish-hours telephone support
✓ Those who value: irish deposit guarantee scheme protection up to eur 100,000

Who Should Choose Bank of Ireland Business

Bank of Ireland Business is the better fit if your business matches one or more of these profiles:

✓ Those who prioritise user satisfaction - Bank of Ireland Business has a higher editorial rating (4.1/5)
✓ Those who value: nationwide branch network
✓ Those who value: irish deposit guarantee scheme coverage

Our Verdict

A key difference is price: AIB's quarterly maintenance fee works out to approximately EUR 4 per month for a small account versus Bank of Ireland's EUR 6 per month starting point, and AIB offers a two-year fee waiver for Business Start-Up customers that Bank of Ireland does not match. Neither bank provides native Revenue ROS integration or PAYE Modernisation at the account level, so both will need to be paired with dedicated payroll or accounting software for those obligations.

Ultimately, the best choice depends on your specific business needs, team size, and priorities. We recommend taking advantage of free trials from both vendors before making your final decision. If you are working with an Irish accountant or payroll bureau, ask which platform they prefer - their familiarity with the software can save you significant time and hassle during setup and ongoing support.

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Frequently Asked Questions

Is AIB Business Current Account or Bank of Ireland Business better for Irish SMEs?

AIB Business Current Account is the stronger pick for Irish SMEs that need a full lending relationship from day one, particularly those planning to draw down SBCI Growth and Sustainability Loan Scheme facilities, run ROS Direct Debit mandates against an Irish IBAN, or manage significant cash volumes through a branch counter. Bank of Ireland Business is a credible alternative for established businesses in construction, agri-food, and hospitality where Bank of Ireland's sector-specialist relationship managers add practical value, and for founders who already hold a personal Bank of Ireland account and want consolidated banking. Both banks issue Irish (IE) IBANs, participate in the Irish Deposit Guarantee Scheme up to EUR 100,000, support SEPA Credit Transfer and SEPA Direct Debit including pain.001 and pain.008 bulk-payment files, and offer direct bank feeds to Xero, Sage, QuickBooks, and BrightBooks. A key difference is price: AIB's quarterly maintenance fee works out to approximately EUR 4 per month for a small account versus Bank of Ireland's EUR 6 per month starting point, and AIB offers a two-year fee waiver for Business Start-Up customers that Bank of Ireland does not match. Neither bank provides native Revenue ROS integration or PAYE Modernisation at the account level, so both will need to be paired with dedicated payroll or accounting software for those obligations.

Which is cheaper, AIB Business Current Account or Bank of Ireland Business?

AIB Business Current Account starts at From €4/month, while Bank of Ireland Business starts at From €6/month. AIB Business Current Account is the more affordable option at entry level, though total cost depends on the number of users and features you need.

Does AIB Business Current Account or Bank of Ireland Business have better Irish bank feeds?

Which has better GDPR compliance, AIB Business Current Account or Bank of Ireland Business?

AIB Business Current Account stores data in EU data centres (GDPR-friendly). Bank of Ireland Business stores data in EU data centres (GDPR-friendly). Both offer EU data centre options, though configuration may be required.

Can I switch from AIB Business Current Account to Bank of Ireland Business?

Yes, migrating between AIB Business Current Account and Bank of Ireland Business is possible. Most business-banking platforms allow you to export your data in CSV or standard formats. We recommend working with your accountant or IT provider to plan the migration, ideally at the start of a new financial year or payroll period to minimise disruption.

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