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BPFI – Personal Current Account Opening August Update

Latest figures show some 365,000 personal current accounts opened by BPFI members to date in 2022

  • Over 68,000 personal current accounts opened in the four weeks ending 5 August

Wednesday 24th August 2022 – The latest account opening figures published today by Banking & Payments Federation Ireland (BPFI) show 68,000 personal current accounts (PCAs) were opened by the main retails banks, An Post Money, CUSOP and Payac* in the four weeks ending 5th August with some 365,000 personal current accounts opened so far in 2022. The figures are part of a BPFI’s personal account opening data series, which are updated on a monthly basis.

Speaking on the latest update Brian Hayes, Chief Executive, BPFI said: “Our latest monthly figures show continued strong activity in terms of the numbers of personal current accounts being opened across the three remaining banks as well as by An Post and the Credit Unions. And while we’ve seen a slight slowdown in July with about 68,000 PCAs opened in the four weeks ending 5 August, down from 71,000 in the previous four weeks, this is not unexpected given this is a period during which many customers will have been taking their summer holidays.”

“In total BPFI members have now opened 365,000 PCAs so far this year, that’s an average about 11,800 PCAs  opened each week in the year to date. As September approaches and the holiday period comes to an end BPFI and its members will continue to drive additional information and awareness campaigns for consumers and businesses. We are encouraging anyone who is going through this process to visit our website where they can find a wealth of in-depth information and advice including a step-by-step guide on how to move or switch an account and how to manage other services such as direct debits, standing orders, overdrafts and card payments.”

*Payac is a member-owned Credit Union Service Organisation “CUSO”, the largest of its kind in Ireland, representing 50 Credit Unions – both community and industrial, large and small.


Banking & Payments Federation Ireland (BPFI) represents the banking, payments and fintech sector in Ireland.  Together with its affiliates, the Federation of International Banks in Ireland and the Fintech & Payments Association of Ireland, BPFI has 100 member institutions and associates, including licensed domestic and foreign banks and institutions operating in the financial marketplace here.

Contact: Jillian Heffernan, Head of Communications, 087 9016880

The Account Opening Updates August 2022 is available for download below in PDF format.