# Opening sterling account in N. Ireland while living in the south?



## rory22 (19 Nov 2008)

Hi folks, have searched old posts on this topic but there are some contradictions. Does anybody know or have experience of opening an account up north to receive sterling payments? I know you can open one down south but every time you transfer from £ to € account you get charged cross border fees and was wondering if this is avoidable by having a Northern Irish account.

Thanks.


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## gillarosa (19 Nov 2008)

Can you open a Sterling Business Account with your branch within the Republic? I know it's been possible in the past you should be still able to do so, most Banks have operated US$ and STG accounts for Businesses. It would save the conversion charge.


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## rory22 (19 Nov 2008)

> Can you open a Sterling Business Account with your branch within the Republic?


 
Hi gillarosa,

Yes you can open a sterling account down south. My problem is it's hard to find out which back is best in terms of fee and charges. I have read there was a situation now with NI Irish banks where transfers to the south have less fees and better conversion rates as they are no longer seen as a cross border transactions but it seems hard to get a categorical answer to this so I can find out if it is worth investigating opening an account up north.


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## greencl (19 Nov 2008)

You should contact Ulster Bank or First trust bank in Newry or Belfast. i have accounts in Ulsterbank, i am resident in southern ireland. you just need to book an appointment, state the purpose of the account and take your usual documents of identifcation and residence address in southern ireland- no in ward remittance fees, no standing charges, no cheque book charges(if i remember)  i have account with ulster bank for last 2 years and no hassle.


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## rory22 (19 Nov 2008)

Thanks greencl, that sounds interesting, I'll suss them out.


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## ardmacha (22 Nov 2008)

Northern Bank/NIB have worked at making cross border transfers easier, perhaps they are worth a look.


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## rory22 (22 Nov 2008)

Thanks ardmacha. Your spot on, I've opened account with NIB yesterday, very hassle free.


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## Tim.Dublin (26 Nov 2008)

Rory22,
Did you open the account by visiting a branch in the North, or can you do all the paperwork by post from home?


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## galway008 (16 Dec 2008)

I have a NIB account in the south and a Northern Account in the North, its very easy to transfer between the 2 using interent banking. No charges. You get the exchange rate quoted on their site, it usally ain't great about 3c below the offical bank rate.

You have to visit them to open you first account and bring passport/ESB Bill etc. But after that they will open other accounts for you by email or over the phone e.g. Savings


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## amgd28 (16 Dec 2008)

My company account is with BOI in Cork. We recently opened a wholly-owned subsidiary in the UK and need a UK account for a number of things, such as electronic filing to Inland Revenue, and direct debit payments for office rental etc.
Investigated just opening a sterling account but the fees and charges would have been a nightmare given the activity levels.
So we are opening an account with a BOI branch in Belfast, which is perfect for our purposes as we do all our banking online anywy and our sourthern branch manager is co-ordinating everything for us to minimise paperwork etc


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## callybags (16 Dec 2008)

I'm not certain but after all the investigations into off-shore accounts I think you may have to declare any foreign account to the Irish Revenue Authorities


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