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New Business Bank Account

  • 05-05-2014 6:59pm
    #1
    En.pointe
    Registered Users, Registered Users 2 Posts: 8 ✭


    Looking for recommendations on business bank accounts please!

    I've had a look online at fees, and most banks are offering free fees for the first year or two which is fine for now. BUT what are the banks like to deal with?

    I've also heard that it takes AIB months to get online banking set up (I've heard of one company waiting over 5 months, and still waiting!), has anyone any feed back on any of the banks?

    Thanks!


Comments

  • #2
    ImDave
    Registered Users, Registered Users 2 Posts: 1,096 ✭✭✭ImDave


    There is a big thread on here about Bank of Ireland's Business Online service and how rubbish it is, but leaving that aside and just from the perspective of getting an account setup, I must say I found them quite good.

    From the first time I met with my "Relationship Manager" to when I had all account details, cards, cheque book and online banking sorted was a bit under two weeks. Very straightforward, but I guess my needs were too (Limited Company with two current accounts, one debit card and a business credit card).

    In particular, as a fairly young person who was on a low graduate salary before starting out, I thought getting a business credit card would be a big deal, but it was quite straightforward. A personal guarantee was required however.

    I think they are only offering six months free banking for new business customers now however which is a poor offering compared to some of the others. As for the online banking platform however, I suggest you check out that thread! It will drive you slowly insane if you are doing anything more than the absolute basics, and even still it is rubbish.


  • #3
    Axwell
    Moderators, Computer Games Moderators Posts: 10,462 Mod ✭✭✭✭Axwell


    Have used AIB for years, never any problems. Everything setup in a number of days. Their online banking is far better than most and I find their staff both online and in the branches to be easy to deal with.


  • #4
    MySurrealLife
    Registered Users, Registered Users 2 Posts: 8 ✭MySurrealLife


    Axwell wrote: »
    Have used AIB for years, never any problems. Everything setup in a number of days. Their online banking is far better than most and I find their staff both online and in the branches to be easy to deal with.

    Do AIB have Debit Card facilities for the their business accounts??


  • #5
    writhen
    Registered Users, Registered Users 2 Posts: 209 ✭✭writhen


    Just switched to AIB from BoI. Didn't have any problems with online banking setup. It's still pretty archaic but compared to the head*#%k of BoI banking online it's ok. Regarding debit cards - these are only available for sole traders not limited companies which is a pain.


  • #6
    MySurrealLife
    Registered Users, Registered Users 2 Posts: 8 ✭MySurrealLife


    writhen wrote: »
    Just switched to AIB from BoI. Didn't have any problems with online banking setup. It's still pretty archaic but compared to the head*#%k of BoI banking online it's ok. Regarding debit cards - these are only available for sole traders not limited companies which is a pain.

    Oh thats good, since thats what we are a sole trader.... but useless if we ever wanted to change structure. Makes no sense other than they make more money from offering only Credit Cards. But its not something we would be eligible to get.

    Cant understand why it is so difficult to set up and run a small business in this country. It would be easier to be black market based instead of legit!


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  • #7
    amber2
    Registered Users, Registered Users 2 Posts: 1,618 ✭✭✭amber2


    Just regarding online banking with BOI If you are a sole trader i.e. joe blogs trading as......., you can register for banking 365online which is a free service and much better & more user friendly compared to business online. If on the other hand you are a limited company then your only option is business online.


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