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Farm Bank Account: Pros and Cons

  • 06-09-2015 07:44PM
    #1
    mikefoxo
    Registered Users, Registered Users 2 Posts: 461 ✭✭


    At the moment any monies in or out go through the parents account. Was thinking of trying to set up a separate farm account. What sort of bank charges would you be looking at? Thanks


Comments

  • #2
    Milked out
    Closed Accounts Posts: 3,433 ✭✭✭Milked out


    mikefoxo wrote: »
    At the moment any monies in or out go through the parents account. Was thinking of trying to set up a separate farm account. What sort of bank charges would you be looking at? Thanks

    Best to talk to your bank manager, and shop around go to all banks and see what they are offering


  • #3
    WheatenBriar
    Closed Accounts Posts: 3,170 ✭✭✭WheatenBriar


    All of them will be at the ploughing so thats your chance to kill all birds the one day with the one stone

    Advantages? The ability to borrow for the farm,overdraft etc
    Business charges are slightly higher but this is way offset by lower interest rates for business accounts as farms will be using overdrafts at least usually


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