Which Bank (my first post)

laura_83

Hi, i recently set up a new company (ltd) with a few other people.

We are only getting around to setting up a bank account now.

I was wondering if anyone could advise on a good bank to go with.

There will be a substantial amount of money sitting in the bank at anyone time due to the typical value of each sale / transaction, which we would hope would be subject to interest.

Would i be under the right impression that most of the banks provide the same service and rates.

We were thinking of going with Bank Of Ireland or AIB.

capefear

Hi laura

Welcome to the site.

Your right to say that most of the banks are similiar in services and rates. Most people I know use the AIB purely because its free banking for first two years and they like their internet banking.

If you will a have alot of money sitting in the account than I would suggest opening two bank accounts one for your business day to day business and than a separate account with a high interest account 90 day account. Im not sure which bank has the best high rate interest account but Im sure some one here will know.

Best of Luck with the Business.

HTH

Peterdalkey

AIB and Ulster have the best online offerings but neither will offer you anything for cash balances. Agree with Capefear, you can open a separate deposit account with someone offering decent rates such a Rabo as long as they have good online funds moving facility, Rabo have.

Cheers

Peter

srsly78

For business accounts you will get hit for loads of fees once the 2 year grace period runs out, they do a good job hiding quite how much. These fees include (for boi and aib) an extra charge per month for internet banking. Consider that a personal account gives you the same or better for free... Is a bit of a ripoff really, if only there were some way around this...