ONLY 3% OF Irish people invest their money, according to a banking survey launched by Tánaiste Simon Harris.

The 2026 Consumer Sentiment Banking Survey, conducted by Ipsos Behaviour and Attitudes for the Department of Finance, interviewed 1,510 adults aged 18 and over between July and August 2025

It comes ahead of the introduction of the new Investment Account scheme next July, which allows investments of up to €12,000.

The scheme will have no minimum contribution and a tax-free threshold of €50,000.

The survey revealed that only 5% of men and 2% of women hold investment accounts, while just 1% of respondents own cryptocurrency products.

Speaking on the launch of the survey, Harris said that investing can feel complex and that the new investment scheme will “make investing simpler and more accessible”.

“We are a nation of savers, but far too few people see investing as an option open to them,” he said.

“For many, investing feels too complicated, too expensive or simply out of reach. I want to change that

“People should not need substantial savings or specialist knowledge just to consider putting money aside for their longer-term future,” he added.

Opposition parties have criticised the scheme following Budget 2027, with Labour’s Jed Nash arguing it is “for those who already have a few bob in the bank, who can afford to save thousands of euros, and where their money is burning a hole in their pockets”.

Meanwhile, the number of consumers using Revolut as their main account has risen from 3% to 6%, while overall app usage increased from 43% to 48% over the past year.

Among those aged 55–64, usage saw a particularly notable rise, climbing from 22% last year.

However, traditional banks continue to dominate as the main banking provider, with 86% of respondents naming AIB, Bank of Ireland or PTSB as their primary provider.

The survey also examined the growing use of artificial intelligence in financial services, finding that 21% of participants had turned to AI for financial information or advice.

Both the use of and trust in AI were lower among older age groups.

Harris said it is “interesting to note that a consumer’s age profile seems to be a big factor in both AI usage and trust”.