Really happy to be onboard with this new bank. Tis awesome to have some competition in Ireland, especially since KBC left a few years ago
I know this be a bit of a abstract topic at present as Budget 2027 hasn’t been announced as of yet. However the likely hood is that the government will be announcing an Savings and Investment Account for potential go live of 2027. Is Monzo looking into this? I’ve seen bits and pieces on this that Revolut for example has been providing some inputs back to the relevant parties as part of industry engagement. I know that you do offer ISA for UK residents so I assume that once things clear up we can get access to the upcoming irish version?
Like you say, a bit early in the day and the details around the announcement aren’t there yet but I’m watching this too and interested to know how this will work in practice and which various providers will get involved and what they will offer
Aye it’s exciting, been investing for a few years now and the current taxation landscape is an absolute joke so it’s finally great to see this potential option coming. I do hope Monzo follow up with this once it’s announced anyways. Good to have a new bank in the market and upcoming easier investment options
I know, in between deemed disposal, low capital gains allowance, high taxation on investment products, it’s not easy to be a retail investor in Ireland
I don’t doubt that Revolut are going to be all over this, didn’t they say there’s something like €170 bn sitting in low interest accounts right now that folks don’t know what to do with?
I expect what we’ll get from the legacy banks will be a mediocre offering as usual, but there’s most definitely a massive gap going to open up here for whoever moves first. Revolut spotted the gap after the Ulster / KBC exit and effectively cleaned up and I’m sure they’ll do the same when this product (in whatever form) is released; there’s a big opportunity for Monzo to get ahead of the game on this one too if they’re on it early enough - I doubt an opportunity like this is going to come along again
Aye totally agree - there is a great opportunity for the smaller banks to do good out of this new scheme if they can get an investment account setup in place early 2027. Aye you are correct that there is 170 billion on deposit in Ireland, majority is with the wealthy but there is a significant minority of middle and working class people with savings that are looking to put their money to ever greater work so. I do hope Monzo follow up on this via industry engagement and then post Budget 2027 (Oct 2026) announcement. That and I hope the government allows for asset transfers into the new accounts for those of us that have already some ETF investments
