Bank of Ireland and AIB are to pay staff an additional financial support payment to help them to deal with the rising cost of living.
Staff in bands 1-5 at Bank of Ireland's Republic of Ireland operations are to receive a €1,000 tax free voucher.
The bank's workers in the UK will get a £1,250 cost of living payment, which will be paid through the regular payroll.
At AIB, level 1-5 staff will get a tax free Appreciate Award worth up to €1,000 that can be used in all retailers that are part of the scheme.
The development follows negotiations between the banks and the Financial Services Union, which represents workers at the lenders.
"Workers are struggling to pay bills, heat their homes and put food on the table," said FSU General Secretary John O'Connell.
"They need help from the Government, but they also need support from their employer," he added.
"Danske Bank announced a payment of £1,000 to staff in September which was very welcome news to the workers in Danske and today's agreement from Bank of Ireland and AIB will go some way to alleviating the real issues that workers have in meeting their day-to-day bills," he stated.
In a statement, AIB said it recognises the impact the cost of living crisis is having on its people and it continues to support them.
"In keeping with this we are making a once off recognition to our people," the bank said.
The one-off payments come on top of separate pay deals agreed at both banks in recent months.
In May, the FSU and AIB agreed a deal that will see non-managerial staff receive a 10% pay increase over the next three years.
In February, Bank of Ireland agreed to pay 7.5% over the next two years.
"No part of our existing two year pay agreement is impacted by this once off payment," Bank of Ireland chief people officer, Matt Elliot, told staff in an email.
"As part of our annual pay review process, we take a range of considerations into account including inflation, market conditions, competitor benchmarking, and company affordability."
"However, at this time of unprecedented increasing energy, transport and other living costs, we recognise that many colleagues may need further support. This once off payment is designed to go some way to meeting the financial challenges colleagues may face as a result."
