Savings FAQ

The current minimum savings amount is €1.

You can view your balance and generate a transaction statement in the MoCo Savings Hub via this link.

The current rate of interest payable on new Savings accounts can be found here.

You can login to the MoCo Savings Hub via this link. Once you have logged in you can send a secure message to us. We will review your query and respond as soon as possible. You will receive an email notification advising you once we have responded. You can then access our response in the MoCo Savings Hub.

Making a withdrawal from your savings account is straightforward. Just log in to the MoCo Savings Hub, go to My Accounts page , and select the ‘Withdraw Funds’ option in the 3-dot menu (located in the top right of the account information card).

Your MoCo savings account is an easy access account meaning that you can withdraw your money at any time (subject to payment processing timelines).

MoCo is member of a statutory deposit guarantee scheme, the Austrian "Einlagensicherung AUSTRIA Ges.m.b.H”. Subject to certain exemptions, the funds in your savings account are guaranteed up to €100,000 by the Austrian Government pursuant to the Austrian Deposit Guarantee Scheme.

No, you will not be charged any fees for opening or holding a MoCo savings account.

You can generate a transaction statement for the required period by accessing the MoCo Savings hub and following the on-screen guidance.

Your "reference account" is the bank account to which withdrawals from your MoCo savings account are made. You can change your reference bank account by logging into the MoCo Savings Hub via this link. In the menu on the left-hand side of the page, select ‘Reference Account’. Once you have done this, select the edit button at the top right of the screen. You can then simply enter the new account details and save these. You will be asked to verify your identity when saving changes to your reference account. Please note that there is a 48 business hour delay after a reference account change before withdrawals from your account are possible.  This is a necessary security measure in order to protect your account balance. 

You can close your account in the MoCo Savings Hub by using this link. Once you have logged in, select the 3 dots on the right-hand side of the screen. One of the options presented to you is ‘Close Account’. Once you select and confirm this action, the remaining cash balance in your account will be transferred to your reference bank account and your account will be closed within 7 days.

You can amend your name by logging into the MoCo Savings Hub, accessed through this link. Once logged in, select ‘Personal Details’ from the menu on the left-hand side. On the right-hand side  select ‘Edit name or phone number’. Once you have clicked on this button you will be able to amend your details. Please note that for name changes you will be asked to upload proof (marriage certificate, decree of divorce, or deed poll) of your name change.

If you encounter any technical issue, please contact us at savings@moco.ie. To help us resolve the issue as quickly as possible, include a brief description of what happened and, if you can, a screenshot or image of the error.

The rate of 2.6% AER is available only to customers that have not previously availed of a promotional rate (e.g. 2.6%) and is available on accounts opened up to and including July 30^th, 2026.

The rate of 2.6% AER is available until November 2^nd, 2026 on applicable savings accounts opened up to and including July 30^th, 2026.  The rate will reduce to MoCo’s variable rate on and from November 3^rd, 2026.  MoCo’s current variable rate is 2.1% AER. 

Yes, the maximum aggregate balance per customer (whether across a single or multiple accounts) that is eligible for the promotional rate of 2.6% AER is €500,000. Any amounts that are lodged in excess of this maximum will be returned to your reference account.

The rate of 2.6% AER is available only to customers that have not previously availed of a promotional rate (e.g. 2.6%) and is available on accounts opened up to and including July 30^th, 2026. The rate will reduce to MoCo’s variable rate on and from November 3^rd, 2026.  MoCo’s current variable rate is 2.1% AER. 

We are aware that some banks apply limits such as €10,000 or €20,000 per day for transfers processed online.  Where such a limit applies and you wish to process a transfer in excess of this limit, the best option is to visit a branch of your bank and request an in-branch SEPA transfer.  It is important to request a SEPA Standard transfer (not SEPA Instant) to ensure that your money is transferred as efficiently as possible.  Use of other methods such as TARGET and Swift may lead to processing delays. 

Once you have opened a savings account with MoCo, there are various ways to transfer money to your account:

1. You can make an electronic funds transfer to your MoCo savings account from another account by using the unique IBAN for your MoCo savings account (this can be found by selecting the ‘My Accounts’ page in the MoCo Savings Hub. Your account details, including the IBAN for each savings account you hold with MoCo, are available here).
2. You can log on to the MoCo Savings hub and use the [Make a Lodgement] link to transfer money from an account with one of the specified banks to your MoCo savings account.  This process can be completed in seconds.  If using this service on your mobile, please ensure that popup screens are enabled so that the service can operate correctly.
3. A standing order facility can be arranged with the bank from which you wish to transfer money to MoCo.

• The process to transfer money to your MoCo savings account is normally
  completed within one working day (if processed on a bank working day) but can take up to two working days. 
• If this is the case and the money has not appeared in your MoCo Savings account within two working days, please contact us using this link specifying the date and amount of transfer.

• The process to transfer money from your MoCo savings account is normally
  completed within one working day (if processed on a bank working day) but can take up to two working days.
• If the money has not appeared in your reference account within two working days, please contact us using this link specifying the date and amount of transfer.

We are unable to facilitate money transfers to your account using either direct debit or standing order facilities. A standing order facility can be arranged with the bank from which you wish to transfer money to MoCo.

There are two easy options for transferring money to your account: 

1. You can make an electronic funds transfer to your MoCo savings account from another account by using the unique IBAN for your MoCo savings account (this can be found by selecting the ‘My Accounts’ page in the MoCo Savings Hub. Your account details, including the IBAN for each savings account you hold with MoCo, are available here).
2. You can log on to the MoCo Savings hub and use the [Make a Lodgement] link to transfer money from an account with one of the specified banks to your MoCo savings account.  This process can be completed in seconds.  If using this service on your mobile, please ensure that popup screens are enabled so that the service can operate correctly.

Yes.

Payments to certain types of accounts enable payee account details to be confirmed with the payee’s bank before a payment is processed.  The MoCo savings account is outside of this verification regime. This means that, when setting up an online payment to your MoCo savings account, you may see a message such as 'Match Not Possible' or similar from your bank. If you are satisfied that the MoCo account details you've entered are correct, you can select 'Continue with Payment' to proceed.

Similarly, if making a payment to your MoCo savings account from your bank branch, once you have confirmed that your MoCo account details (IBAN and beneficiary name) are entered correctly, you can advise the branch official to proceed with the payment, even if a message such as “Match not possible” is displayed.  It is important to note that the “Match not possible” message does not necessarily mean the account details on the payee account are different to those appearing on the payment transaction record.

The process to open an account is straightforward and starts by clicking this link.

• All you need to open an account is a valid passport. 
• If you are a non-Irish national, you will also be asked to provide proof of your address before the account can be opened.
• In some circumstances we may request further documentation to evidence the source of the funds that make up your deposit or to support a claim for DIRT exemption.

Yes, there is no limit to the number of savings accounts that you can hold with MoCo.

You need to be over 18 years old, resident in Ireland and not be a citizen of the United States.  We can only facilitate the opening of a savings account by natural persons (as distinct from legal persons) at this time.

For reasons related to tax reporting and data sharing, MoCo currently only offers accounts to individuals who are resident in the Republic of Ireland and not a citizen of the United States of America.

We are unable to facilitate the opening of joint savings accounts.

Please see the response in Question 1 above for details of how to start the process of opening a Savings account with MoCo. 

We understand that circumstances can arise at times, for varying reasons, where individuals can require extra support in understanding, managing or making decisions on their finances.     

 If you or someone you know requires additional assistance in:   

• Managing accounts or payments;   

• Understanding information relating to accounts;   

• Accessing accounts;   

• Comprehending the options or financial choices available to them; or   

• Financial decision-making.

Please contact us on savings@moco.ie, or (01) 5752805, and we will offer guidance and support to ensure your best interests are secured.

For additional external support and information, the Decision Support Service is an independent organisation which promotes the rights and interest of people who may need support with decision-making.

Web address: www.decisionsupportservice.ie

Please use Landscape Orientation on your phone and place your passport on a flat, dark surface to create contrast.  Please ensure good lighting and keep the entire passport page in frame and focus.  Please avoid using flash as it can cause reflections that obscure important details. 

Unfortunately, we do not accept the documents submitted by email. All document verification must be completed through our secure electronic verification process. Please note the guidance elsewhere in this section on taking a passport photo. If issues persist, please reach out to us via the Message Portal on your account dashboard for further support. 

Yes, we are obliged to deduct deposit interest retention tax (DIRT) from interest earned on your savings.  There are some exemptions where deduction of DIRT is not required and further details on these exemptions can be found here.

No, we will calculate and pay any DIRT that is due on your behalf.

MoCo is the trading name of the Irish branch of BAWAG. BAWAG is an Austrian bank and is regulated by the European Central Bank and the Central Bank of Ireland. Further information about us can be found here. 

MoCo offers its products online only and does not operate any physical branches.