I am starting out again in business and would like to open a new business account with new bank, not aib, does anyone know if any banks offer facility for an overdraft any more to new customers, thanks
In my experience it very much depends whrer you are located , AIB might be ok in one area PTSB in another etc. This seems very strange indeed !!
If you make your application as complete as possible to include Buisness Plan, Projections & as much on the specifics of the venture as possible especially details of the day to day running of the buisness you have a fighting chance They will invariably look for security ie guarntor or a lien of some description Good Luck
I take it that you are proposing for a small unsecured OD facility (assuming between 5K & 20K). Historically it was easy enough to obtain approval. However, Banks have become extremely reluctant to approve OD's to new clients.
You are most unlikely to obtain an OD approval without a minimum of at least 12 months track record in operating a credit account with a Bank.
I am looking at 5k at the most and it would be as a new customer with a bank other than aib as i have issues with them that i am trying to resolve at present.
I dont think you would be able to get an overdraft.
You will be lucky to get a normal credit account if you have issues with another bank.
Your new bank will want to see recent statements etc so they will most likely see if you have had problems in the past.
Overdrafts are very thin on the ground right now. Even for only €5k, don't get your hopes up. If you manage to get any kind of o/d, you'll have to personally guarantee it.
For business banking, I've found Ulster Bank to be quite good. I'd avoid BoI. But as a previous poster said, there's a big difference between the regions.