The event, which was organised by the students' union at Tallaght's Institute of Technology, was supposed to take place at the off-campus Metro bar.
Horrified mom Suzanne Keegan said her 18-year-old son was among the freshmen who had "booted it over to the bar" to see the 'exotic dancers."
Keegan said the banks -- which are currrently public enemy number one in Ireland -- had sunk to a new low.
"The banks have got very low. But this is just immoral," she said.
The Ulster Bank said it had not realized the promotion would involve strippers.