Monzo in Ireland: the licence is the story
Monzo arrived in April 2026 as the first digital bank with a full Irish banking licence, and that changes more than the marketing. Irish guarantee, DIRT deducted for you, no foreign paperwork. The 1.8% rate is mid-table; the simplicity is not.
Every rate on this page was read from the provider's own site. Last verified 1 August 2026.
- MonzoInstant Access Savings Pot1.80%
- Term / access
- Instant access · Instant access, interest paid monthly
- DIRT
- 33%withheld for you
- Limits
- max €100,000
- Protection
- Irish DGS · €100,000
Needs a free Monzo current account. The first digital bank with a full Irish banking licence: Irish guarantee, DIRT handled for you.
Ranked by AER, highest first. Nobody can pay for position or inclusion. How we rank, and how we get paid
Monzo's best lump sum rate
1.80%
Instant Access Savings Pot
The market's best
3.23%
Raisin · BluOr Bank, fixed term deposit
What the Irish licence actually changes
Every other neobank serving Irish savers passports in from somewhere else: Revolut from Lithuania, N26 from Germany, bunq from the Netherlands. Monzo holds a full Central Bank of Ireland licence, so its deposits sit under the Irish Deposit Guarantee Scheme and it deducts DIRT at source like a pillar bank. Among app banks, it is the only one where the tax simply never becomes your problem.
The rate, honestly
Instant Access Savings Pots pay 1.8% AER variable, paid monthly, no minimum, up to €100,000 per pot type (€200,000 across personal and joint). You need a free Monzo current account first.
At 1.8%, Monzo beats every pillar-bank demand account by a distance and sits below Revolut’s paid tiers, Trade Republic’s new-customer offer and the Raisin marketplace. What those pay extra for is a foreign guarantee or your own tax return; whether that trade is worth 0.2% to 1.2% is a fair question with no universal answer.
Related: how DIRT works · the best deposit rates · State Savings
Monzo questions, answered straight
- What interest does Monzo pay in Ireland?
- 1.8% AER variable on Instant Access Savings Pots, paid monthly, with no minimum deposit and up to €100,000 per pot type. A free Monzo current account is required. Verified on monzo.com/ie on 1 August 2026.
- Is Monzo regulated in Ireland?
- Yes, fully. Monzo was the first digital bank to secure a full banking licence from the Central Bank of Ireland, and deposits are protected by the Irish Deposit Guarantee Scheme up to €100,000 per person.
- Does Monzo deduct DIRT?
- Yes, automatically, before interest is paid, like an Irish bank. It is the only app bank in the Irish market where deposit interest requires no Revenue paperwork at all.