Bank of Ireland PIA: fees, terms and review

Bank of Ireland has published a product page for the Personal Investment Account. In summary, it says:

• Bank of Ireland told PIA·IE it intends to launch a PIA, expected from 1 July 2027.
• Its page says details on how to apply will be shared when the product launches.
• Open to Irish tax residents aged 18 or over with a PPSN; one PIA per person.
• Up to €12,000 a year, use it or lose it, with no minimum yearly contribution. Bank of Ireland says lump sums are expected to be allowed, but contribution frequency has not been announced.
• No PIA tax up to €50,000; 1% a year on the value above it (its example: €60,000 → €100). The provider calculates and pays the tax.
• No minimum holding period, though the page describes it as a long-term (5+ year) product.
• The page suggests customers can speak with its Financial Planning Consultants rather than wait for launch.

Source: Bank of Ireland — Personal Investment Account page (13 October 2026) and statement to PIA·IE (14 October 2026)

Stated plan: The firm has publicly stated it plans to offer the account; this does not mean applications are open or terms are published.

Authorisation: Credit institution and MiFID firm, Central Bank of Ireland

Bank of Ireland has not published its PIA investment range. Firms usually build from what they already sell, so our working expectation is that it will reflect its existing advised investment plans: risk-rated, insurance-based funds recommended by its Wealth Managers and Financial Planning Consultants, from €100 a month.

• Bank of Ireland's current investment journey assesses your risk level and recommends a fund, which is closer to a life company plan than a share-dealing account.
• Charges are likely to be fund-based (an annual management charge) rather than per-trade fees.
• Its PIA page already points readers to its Financial Planning Consultants, so an advised route looks likely. Whether there will be an execution-only option has not been said.

Existing range: Bank of Ireland — Investments. This section is PIA·IE's reading of Bank of Ireland's current offering, not a statement from Bank of Ireland. We will replace it with published PIA terms when they appear.

Short answer: they stay separate. The Finance Bill lets only new cash into a PIA. Your existing investments, with Bank of Ireland or anywhere else, cannot be moved into it as they are.

What if…

• I want my existing investments in a PIA? You would have to sell them and pay the money in, within the €12,000 yearly limit. Selling can trigger exit tax on funds and ETFs, or CGT on shares.
• I keep my existing plan? Nothing changes for it under section 26. It carries on under its current rules alongside any PIA.
• I open a PIA elsewhere and later switch to Bank of Ireland? A PIA-to-PIA transfer is allowed, if Bank of Ireland offers a PIA and accepts transfers in.

Not advice: whether to keep or cash in an existing plan depends on your gains, charges and plans. In the Finance Bill, not yet law. See moving existing investments into a PIA.

• Which Bank of Ireland entity or partner will run the account.
• Whether customers can choose their own ETFs or shares, or only ready-made funds or insurance-based products.
• Whether there will be an execution-only option, or only advised.
• Fees, any minimum investment, and how PIA-to-PIA transfers in from other providers will work.

A stated launch date is a plan, not an account open to customers. The scheme is in the Finance Bill, not yet law.

The PIA tax itself — 1% of value above €50,000, nothing up to that amount — is the same at every provider and is shown separately on the cost comparison.

• Every yearly charge added together, not just the headline platform fee.
• Whether advice or commission is built in, and whether you can opt out.
• Fund charges on the funds you'd actually hold.
• Exit and transfer charges if you later move provider.