Financial institutions and identification

Rules

If you are opening an account in a bank or other financial institution in Ireland for the first time or you are someone who does not maintain an account at the institution in question but wants to carry out a transaction through the institution (usually in excess of 10,000 euro), you must produce the following evidence of identification:

Documents providing evidence of your name

• A current valid passport
• A valid driver's licence
• A current identity card with photograph from a known employer
• A current student identity card with a photograph issued by a known third-level college
• An identification card with a photograph issued by the Garda Siochana.

Documents providing evidence of your address

• A recent household bill such as a gas, electricity or telephone bill
• A current driver's licence
• An identification card with a photograph issued by the Garda Siochana
• A pension/benefit book issued by the Department of Social Protection
• A recent original bank or building society statement in your name
• An entry in the electoral register or a telephone or street directory
• An An Post savings or investment document with a street name marked on it.

There are alternative arrangements for people who do not possess the documentation outlined above. These arrangements can vary from one institution to another and everyone's case is looked at on an individual basis. Examples of alternative forms of identification include:

• Evidence of an existing account or previous business with the bank
• A letter from an employer that is an existing customer of the bank stating the address of the new customer
• For people living with their parents and who do not receive household bills, a letter in one or both of their parents' names is sufficient
• A letter of reference from another bank that you have an account with or have done business with in the past
• Student cards with photo identification may be accepted from people under 25.

Copies of all documentation used to establish the true identity of the customer must be retained for five years after an account is closed. Also, copies of transactions must be kept for five years after the date of the transaction.

Bank staff are required to know the nature of their customers' business and can ask for information about the level and type of business that is likely to be transacted through the account. Customers can also be asked to provide confirmation of the source of their funds and to give reasons for carrying out certain transactions.