According to the press release, the new Current Account, launched on International Credit Union Day on 17 October 2019, is approved by the Central Bank of Ireland. It includes a globally accepted Mastercard debit card with contactless payments. Accountholders will be able to set up standing orders, direct debits, and use an overdraft facility. Credit Union members can open an account online or in-person at a Credit Union branch.
The Current Account offers a monthly fee of EUR 4, which covers unlimited (euro) point of sale and contactless transactions, unlimited mobile and online banking, unlimited standing orders and direct debits, and up to five ATM withdrawals (euro) per month.
Currentaccount.ie is the trading name of Payac Services, a shared services company established by Credit Unions. Member Credit Unions have 1.2 million members and a presence in over 150 locations throughout the Ireland.
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