new business banking account

tombull82

Hi all.
I am in the middle of my start up and need to start looking at opening a business account,
I will be making alot of payments to people pay cheque and will also need to be able to accept CC/ Laser maybe via a portable
hand held at my clients locations.

From what I am seeing I would believe Ulster Bank and Bank of Ireland seem to be offering the best for startups. I have not even looked at AIB as my wifes personal account is with them and its Sooo slow its just not acceptable, so I don't think I'll even consider them.

Has anyone got an opinion on who they would susggest as been the better for someone like myself who etc setup also...will need CC and Cheque and possibly Direct Debits setup also. i.e cheaper would be good.

arctictree

You should have no problem getting a business current account. I use AIB and they are pretty good. What do you mean when you say that your wifes account with them is 'slow'?

Getting a merchant account for processing credit cards and laser is a different story. If you have little trading history they will require a full business plan which will need to be approved by them. They may also require a 'lean'. (Which is a sum of money lodged with them to mitigate risk).

Similar story for direct debits. You need to become a DD originator which is even more difficult than getting a merchant account.

tombull82

thanks

arctictree wrote: »

You should have no problem getting a business current account. I use AIB and they are pretty good. What do you mean when you say that your wifes account with them is 'slow'?

Its odd really, say she has 500 in her current account an withdraws 200 at an ATM on a monday, if she goes an checks her balance on wed or thursday it can still say 500 whether its at the ATM or online banking. But she still can only withdraw 300 of course. With my BOI account if i log on when i get home from the shop it can normally be updated. So i always know what i really have or close to anyway.

Tony255

To be honest I am with AIB for both personal and business accounts and find them excellent, I also have a merchant account with them which you will require and found the process to obtain the account fairly painless.

They have a good deal also at the moment for startups so I would suggest you take a look at them as a serious option.

arctictree

tombull82 wrote: »

thanks
Its odd really, say she has 500 in her current account an withdraws 200 at an ATM on a monday, if she goes an checks her balance on wed or thursday it can still say 500 whether its at the ATM or online banking. But she still can only withdraw 300 of course. With my BOI account if i log on when i get home from the shop it can normally be updated. So i always know what i really have or close to anyway.

Thats very strange - not the case with my account. Anyone else have this problem?

tombull82

maybe its just the carlow branch but its been like that for as long as i can remember

tombull82

maybe its just the carlow branch but its been like that for as long as i can remember