AIB Business Current Account vs Fire Business Account in Ireland (2026) - Full Comparison

AIB Business Current Account vs Fire Business Account - Feature Comparison

Feature	AIB Business Current Account	Fire Business Account
Monthly Pricing	From EUR 4 per quarter maintenance fee plus per-transaction charges. Two-year fee waiver for Business Start-Up customers (excluding cash handling).	EUR 10 flat monthly fee plus EUR 0.29 per SEPA or domestic transfer. No free tier.
Regulatory Type and Deposit Protection	Fully licensed credit institution regulated by the Central Bank of Ireland (C21174). Customer deposits covered by the Irish Deposit Guarantee Scheme up to EUR 100,000.	Payment Institution regulated by the Central Bank of Ireland (C58301). Customer funds safeguarded under PSD2 rules but not covered by the Irish Deposit Guarantee Scheme.
Irish IBAN Issuance	Issues Irish (IE) IBANs as standard. Fully supports ROS Direct Debit for VAT3, PAYE, and Corporation Tax instalments.	Issues genuine Irish (IE) IBANs from the Irish entity (Fire Financial Services Limited). ROS Direct Debit compatibility not confirmed.
Currency and Cross-Border Payments	Euro accounts only as primary current account. SWIFT outbound available. FX margins materially higher than specialist providers.	Dual EUR and GBP accounts under one login. Irish (IE) IBAN for euro; UK sort code and account number for sterling. UK Faster Payments and Bacs on the GBP side. SWIFT outbound with FX conversion.
Payments API and Automation	Bulk payment file upload via Internet Business Banking using pain.001 and pain.008 SEPA XML formats. No public developer API.	Documented Fire Payments API plus Open Banking PISP and AISP APIs for programmatic payouts, batched supplier runs, and webhook-driven reconciliation.
Accounting Platform Bank Feeds	Native direct bank feeds to Xero, Sage Business Cloud Accounting, QuickBooks Online, and BrightBooks.	No native first-party bank feeds. Reconciliation via OFX or CSV statement export, the Fire API, or partner connectors.
Lending and Credit Facilities	Full lending suite: overdrafts, term loans, asset finance, merchant services, and SBCI Growth and Sustainability Loan Scheme access.	No overdrafts, term loans, merchant acquiring, or credit facilities of any kind.
Revenue and PAYE Integration	No native Revenue or PAYE Modernisation integration. ROS Direct Debit supported via Irish IBAN.	No native Revenue or PAYE Modernisation integration.

Irish Compliance and Pricing Matrix

A side-by-side data comparison of pricing and Irish regulatory compliance for AIB Business Current Account and Fire Business Account. Values are derived from each vendor's published data and verified weekly.

Requirement	AIB Business Current Account	Fire Business Account
Pricing
Starting price	From €4/month	From €10/month
Pricing model	Monthly flat rate	Monthly flat rate
EUR pricing guaranteed	✓	✓
Free trial	✗	✗
Irish Compliance
Revenue (ROS) integration	✗	✗
PAYE Modernisation	✗	✗
Irish bank feeds	✓	✗
Bank compatibility	SEPA Credit Transfer, SEPA Direct Debit, Pain.001, Pain.008	SEPA Credit Transfer, SEPA Direct Debit
SEPA direct debit	✓	✓
Irish IBAN support	✓	✓
VAT handling	✗	✗
EU data residency (GDPR)	EU only	EU only
Irish support	✓	✓
Revenue-approved	✗	✗
CBI regulated	✓	✓

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 Fire Business Account compare on the requirements that matter most to Irish SMEs.

Revenue Integration

Neither AIB Business Current Account nor Fire Business Account 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. Fire Business Account supports SEPA Credit Transfer, SEPA Direct Debit. AIB Business Current Account has broader Irish bank compatibility, which matters if you bank with Pain.001 or Pain.008 - you will get automatic bank feeds or SEPA payment file support that Fire Business Account cannot offer.

GDPR Data Residency

Both AIB Business Current Account and Fire Business Account 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 Fire Business Account 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 Fire Business Account 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 weekly, 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 →

Fire Business Account

€10 /mo

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

View Fire Business Account 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 from €4/month
✓ Businesses banking with SEPA Credit Transfer, SEPA Direct Debit, Pain.001, Pain.008 who want reliable bank feed or payment file support
✓ Those who value: branch network across ireland and irish-hours telephone support

Who Should Choose Fire Business Account

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

✓ Those who prioritise user satisfaction - Fire Business Account has a higher editorial rating (4/5)
✓ Those who value: irish-founded and dublin-headquartered, with a central bank of ireland payment institution authorisation since 2010
✓ Those who value: issues genuine irish (ie) ibans from the irish entity, not belgian or german ibans

Our Verdict

AIB Business Current Account wins for established Irish SMEs that need a full banking relationship: overdrafts, term lending, SBCI scheme access, cash handling, and an Irish (IE) IBAN that works cleanly with ROS Direct Debit for VAT3, PAYE, and Corporation Tax instalments. Fire Business Account wins for tech-enabled Irish SMEs that need dual EUR and GBP operations under one login, predictable per-transaction pricing, and a documented Payments API for programmatic payouts and reconciliation, all from a Central Bank of Ireland regulated, Irish-founded provider. The sharpest Irish-specific differentiator is deposit protection: AIB balances are covered by the Irish Deposit Guarantee Scheme up to EUR 100,000, while Fire, regulated as a Payment Institution rather than a licensed bank, safeguards client funds but does not carry that statutory deposit insurance.

Neither vendor offers native Revenue integration or PAYE Modernisation support, so businesses automating ROS filings must handle that outside both platforms. AIB carries higher monthly costs once transaction fees are counted, and its digital experience lags behind Fire's API-first design, but for any Irish SME that needs credit facilities or handles significant cash volumes, AIB remains the necessary primary bank.

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.

Not sure which is right for you?

Our AI-powered recommendation engine analyses your business size, sector, and priorities to suggest the best software stack for your Irish business - in under 60 seconds.

Try Our Free Recommendation Tool →

Frequently Asked Questions

Is AIB Business Current Account or Fire Business Account better for Irish SMEs?

AIB Business Current Account wins for established Irish SMEs that need a full banking relationship: overdrafts, term lending, SBCI scheme access, cash handling, and an Irish (IE) IBAN that works cleanly with ROS Direct Debit for VAT3, PAYE, and Corporation Tax instalments. Fire Business Account wins for tech-enabled Irish SMEs that need dual EUR and GBP operations under one login, predictable per-transaction pricing, and a documented Payments API for programmatic payouts and reconciliation, all from a Central Bank of Ireland regulated, Irish-founded provider. The sharpest Irish-specific differentiator is deposit protection: AIB balances are covered by the Irish Deposit Guarantee Scheme up to EUR 100,000, while Fire, regulated as a Payment Institution rather than a licensed bank, safeguards client funds but does not carry that statutory deposit insurance. Neither vendor offers native Revenue integration or PAYE Modernisation support, so businesses automating ROS filings must handle that outside both platforms. AIB carries higher monthly costs once transaction fees are counted, and its digital experience lags behind Fire's API-first design, but for any Irish SME that needs credit facilities or handles significant cash volumes, AIB remains the necessary primary bank.

Which is cheaper, AIB Business Current Account or Fire Business Account?

AIB Business Current Account starts at From €4/month, while Fire Business Account starts at From €10/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 Fire Business Account have better Irish bank feeds?

AIB Business Current Account supports SEPA Credit Transfer, SEPA Direct Debit, Pain.001, Pain.008. Fire Business Account supports SEPA Credit Transfer, SEPA Direct Debit. AIB Business Current Account has broader Irish bank support.

Which has better GDPR compliance, AIB Business Current Account or Fire Business Account?

AIB Business Current Account stores data in EU data centres (GDPR-friendly). Fire Business Account 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 Fire Business Account?

Yes, migrating between AIB Business Current Account and Fire Business Account 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.

Not sure which one fits?

Share your email and we'll send tailored guidance based on this comparison.

AIB Business Current Account vs Fire Business Account - Irish business-banking Software Compared