# Current Accounts (Business Banking)



## MugsGame (25 Oct 2006)

(Draft post - BoSI appear to have the best deal, and certainly have the clearest web-site!)

*[broken link removed]* 
No minimum balance. Interest on credit balances over €20,000. 
No maintenance fee. No transaction fees on first 50 cheques and first 500 EFTs each month. 8.35% overdraft rate.
Free internet banking. Branches open on Saturday mornings.

*[broken link removed]*
[broken link removed] apply. [broken link removed]

*[broken link removed]*
€35 quarterly account maintenance fee. [broken link removed] apply.

*[broken link removed]*
Interest on credit balances.
[broken link removed] apply.

*[broken link removed]*

*[broken link removed]*
Free banking for new customers?
3 years free online banking for new customers, low loan rate.
€5.08 quarterly maintenance fee. [broken link removed] may apply for existing customers.


The above terms should be available to all businesses, especially small businesses and sole traders. Larger businesses may get better deals. When choosing a bank you should also consider service levels, in addition to fees and charges.

Please read the terms and conditions (available in the links above) to ensure that you are aware of all fees and charges that may apply. Government stamp duty on cards and cheques is collected in all cases. Information will be reviewed and updated regularly. .


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## oopsbuddy (9 Apr 2008)

FYI, BoSI business overdraft rate now 8.35% according to website today.


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## CadetStimpy (22 Apr 2008)

MugsGame said:


> (Draft post - BoSI appear to have the best deal, and certainly have the clearest web-site!)
> 
> *[broken link removed]*
> No minimum balance. Interest on credit balances over €20,000.
> ...



Hi, 

Thanks for the info...

I called Bank of Scotland (01 267 4000) today to find out more info. I was told that unfortunately they're only offering this account to established businesses with a turnover in excess of €250k.

I'll have to look elsewhere!


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## matc66 (16 Jul 2008)

CadetStimpy
Who did you end up going with? 
Im small business just starting up, would be interested to hear what you've found?


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## CadetStimpy (16 Jul 2008)

matc66 said:


> CadetStimpy
> Who did you end up going with?
> Im small business just starting up, would be interested to hear what you've found?



Hi,
Went with Ulster Bank in the end, I've had my personal accounts with them for over 10 years and found them excellent. 

Talked to the business manager in my branch, he confirmed that there are no fees for the first 3 years and I can switch to another bank with no penalty whenever I choose. They also have a low business loan rate, but I didn't need that. Check out www.ulsterbank.ie for more info.

There was one slight glitch where they did charge me fees in error for the first month, but a quick phonecall sorted that out.

Best of luck with the new business!


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## RaboDirect (22 Jul 2008)

*Re: Business Savings Account*

RaboDirect.ie now offers business savings accounts to sole traders, private limited companies, parterships and solictor's client accounts. Please see [broken link removed] for more information. (We do not offer business current account banking services). 

We offer an online demand savings account: rate is 4.0% AER. Interest is paid monthly. From Aug 5th the rate will be increased to 4.30%. 

We also offer a range of term deposit accounts with rates from 4.30% for 1 month term. Higher rates are available for longer terms. [broken link removed] Please note that these rates change on a weekly basis. 

The accounts are only available online. RaboDirect offers its retail and business customers a "[broken link removed]". 

Rabobank including RaboDirect has a AAA rating from Standard & Poor's, Moody's and the Dominion Bond Ratings Service and is the only bank in Ireland to have such a rating. More information on our credit ratings can be found [broken link removed]. 

RaboDirect


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## baldyman27 (12 Jan 2009)

I have my business banking with BOI and recently enquired about setting up my accounts online. I was told that I could make an appointment to meet with someone (they would even come out to meet me) who would show me how to manage my accounts online. 
I have been banking personally with them for years now and have 5 accounts all set up online, all set up over the phone without ever meeting anyone. I find them very easy to manage and do 95% of transactions online. 
So why do I need to meet someone (Iwas assured it wouldn't take longer than half a day - what the hell??) when I'm already used to the system? Surely it can't be that different?


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## brid1977 (12 Jan 2009)

baldyman27 said:


> I have my business banking with BOI and recently enquired about setting up my accounts online. I was told that I could make an appointment to meet with someone (they would even come out to meet me) who would show me how to manage my accounts online.
> I have been banking personally with them for years now and have 5 accounts all set up online, all set up over the phone without ever meeting anyone. I find them very easy to manage and do 95% of transactions online.
> So why do I need to meet someone (Iwas assured it wouldn't take longer than half a day - what the hell??) when I'm already used to the system? Surely it can't be that different?


 I had the same problem trying to set up on-line banking for a BOI business account -  for security reasons was what my branch said. Just ring banking 365 directly with your account details and they will set up straight forward on line banking for you. Don't believe your branch when they tell u it can't be done that way for a business account!


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## baldyman27 (13 Jan 2009)

brid1977 said:


> Don't believe your branch when they tell u it can't be done that way for a business account!


 
Are you suggesting a bank would tell untruths?? 

Thanks for that, will give them a call in the morning. Hopefully won't be back with a rant.


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## euroDilbert (12 Feb 2009)

brid1977 said:


> I had the same problem trying to set up on-line banking for a BOI business account -  for security reasons was what my branch said. Just ring banking 365 directly with your account details and they will set up straight forward on line banking for you. Don't believe your branch when they tell u it can't be done that way for a business account!



I got this from them too.

I think the real reason is that the software is so awkward to use that noone could ever work it out for themselves.
It behaves like something last released circa 1975 (and ported directly to that new-fangled internet thingy) - all character-based, fixed window size, only works on Internet Explorer, arcane operating processes, gobbledegook error messages etc. etc.


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## tadpole (8 May 2009)

Can anyone recommend a business current account with no maintenance / transaction fees? Have spoken with BoSI today, but they do not want customers with less than €500k turnover.


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## z101 (25 Jun 2009)

tadpole said:


> Can anyone recommend a business current account with no maintenance / transaction fees? Have spoken with BoSI today, but they do not want customers with less than €500k turnover.


 
Would like to know if anyone has an answer to this question. I have been told the BoSi minimum is 250k, too rich for my blood donations. I dont need an overdraft. Any suggestions


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## The LCI (27 Jul 2009)

Hi all

The Learning Curve Institute is a new education institute and is looking for a business bank account.

Do you think its wise to go with one that is in your local town? It sounds like Ulster Bank may be the best to go with. I have been with AIB all my life and my business partner has been with BOI but if there is another bank offering better terms then we would have no problem changing.

Do Ulster Bank have good internet banking?


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## Jo90 (31 Jul 2009)

hi,
we have a bus banking online account with AIB having moved it from personal to bus banking. online functionality is pretty average and lots of type of transactions (setting up standanding orders) still require contacting branch. Bus banking support say it is all "under development".

found BOI online pretty poor but NIB online system from personal acc (presuming bus bank is similar too) is excellent and has all the functionality and user friendliness you would want.

one of the keys was ability to move money in and out of accounts and to other banks online in order to get best rate for deposit as curr acc rates (and generally rates offered for depo with AIB) have been particularly poor


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## Jo90 (31 Jul 2009)

...


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## RNCFAN (25 Nov 2009)

I am a Sole Trader up and running for 2 years and I have been advised by my accountant to set up a Business Account. No overdraft, loans or anything fancy needed - the cheaper the better!

Does anyone have any suggestions of which bank is best?


p.s
Tried speaking to Ulster Bank but was told by the person in charge of Commercial that she "was not long back into this job" and asked if she could "just send me out the brochures instead" - It didn't exactly fill me with confidence!!


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## RNCFAN (30 Nov 2009)

Any suggestions?


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## freddiemc (14 Dec 2009)

Just to point out that the 3 years free banking with Ulster Bank does not include free internet banking (Bankline). 

However, I can't see the fees anywhere on the site - anyone know? I believe there are a few different options regarding how/when you pay.


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## Leslie91 (4 May 2010)

Hello all.....

Is the top post kept up to date as with similar threads?. I need to open a business bank current account for my start up Limited company. I have heard AIB are doing it free for 2 years at the moment but not sure if this includes the internet banking. Anyone know the details?.

Tks, L91.


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## yop (23 Jun 2010)

Also the same setup as Leslie

Am setting up a business account for IT contracting. I am currently with NIB.


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## CadetStimpy (4 Apr 2011)

Me again 

As I said above (about 3 years ago), I went with Ulster Bank for my Business Current Account - this gave me transaction-free banking for 3 years and this did include internet banking with Ulster Bank's Bankline service.

I also opened a Business Liquidity Manager savings account (to put aside cash for the taxman) and it too had transaction-free banking.

I received a letter last week from Ulster Bank saying that the transaction-free period was coming to an end. So, I called my branch and asked if they could extend this period given these recessionary times.

I was politely told no, so I've just set up new business accounts with AIB - transaction free for 2 years. This includes their basic Internet Banking - the same system used for personal banking, and that's plenty enough for me.

No doubt I'll be back in 2 years once this transaction-free period is over!


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