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<\/p>\nNew research shows Irish consumers are missing out on almost \u20ac500 of savings a year, with a third earning zero interest on their money<\/p>\n
A woman is holding a fifty euro bill in her pocket. She is wearing a pink sweater and has red nails<\/p>\n
New research has revealed that Irish consumers are forgoing nearly \u20ac500 in potential savings.<\/a><\/p>\n Digital banking provider Monzo has published the first instalment of ‘The Monzo Money Pulse’, a research-driven series examining Irish attitudes towards personal finances<\/a> – with this edition focusing on savings<\/a> habits.<\/p>\n The study found that nearly two-thirds (65%) of Irish adults are committed to increasing their savings in 2026, yet just over a third of savers (34%) are currently receiving zero interest. If instant access interest-bearing accounts were accessible to Irish adults, they would put aside an extra \u20ac40.80 monthly, or \u20ac486 annually, per person.<\/p>\n When calculated nationally, this would generate \u20ac1.5 billion in additional savings annually on which they could earn interest.<\/p>\n Half (50%) of participants indicate they’re concentrating on long-term savings, whilst a further quarter (26%) are working towards shorter-term objectives. Simultaneously, 39% acknowledge they have nothing remaining to save at month’s end, indicating that even those with strong intentions are struggling to make progress, reports RSVP Live<\/a>.<\/p>\n Less than half (45%) of participants believe their bank adequately supports them in achieving their savings objectives, and one in three (33%) state that tools for setting and monitoring savings goals would most enhance their banking experience.<\/p>\n Close-up stock image of hands taking money out of a wallet(Image: Getty Images)<\/p>\n A third (34%) of savers receive no interest whatsoever, whilst 11% are unaware whether their money is generating interest. Almost a fifth (19%) of those not earning interest on their savings admit they don’t understand the options available to them, while 17% express concerns about risk, and many describe saving as “too complicated” (16%).<\/p>\n Instant access to cash is the primary obstacle to earning interest, with 35% of respondents not earning interest on their savings stating they prefer to keep their money in an instant-access account rather than tying it up in a savings account, even if it means forgoing interest.<\/p>\n Elaine Deehan, Country Manager for Ireland<\/a> at Monzo, said: “We know from our first customers in Ireland that saving can be a headache – whether it’s wrestling with minimum deposits or feeling like your money is locked away.”<\/p>\n “The Monzo Money Pulse shows a huge appetite for something better. We’re excited to bring a way to earn interest while remaining totally in control and access the money whenever you need – all that with no maintenance fee or withdrawal charges.”<\/p>\n Join our Dublin Live breaking news service on WhatsApp. Click this link <\/a>to receive your daily dose of Dublin Live content.<\/p>\n We also treat our community members to special offers, promotions, and adverts from us and our partners. If you don\u2019t like our community, you can check out any time you like. If you\u2019re curious, you can read our Privacy Notice <\/a>.<\/p>\n![\"Close-up](\"https:\/\/www.newsbeep.com\/ie\/wp-content\/uploads\/2026\/02\/0_cash-money.jpg\")
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