How long should it take to open a business deposit account with Rabo

P

Panacea

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Recently decided to hedge my bets and move some of the meagre savings that I have in my business banking account from my usual bank which is covered by the irish government guarantee.

It would appear that the business cannot avail of the same rates being offerred to "new" money so I figured may aswell take the plunge and create a margin of safety for some of the working capital in the company rather than focus entirely on the interest rate.

Sent completed forms and backup documentation a week ago and awaiting a response but wondering how long it should take to process assuming there are no issues with the application forms and docs submitted.
 
Hi there,

My brother did the same as you some time ago (around 2 months ago). After 3 weeks when he heard nothing he phoned Rabo. They told him that they had received his form & documentation but they were snowed under trying to process all the applications they had received.

All in all it about about 5 weeks to open the account.
 
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