Advice for which bank to open a sole trader business acc

com7

Just looking for some advice please….my daughter is starting work as a Dentist soon and has to open a sole trader business acc , which Bank is best for rates /support /ease of use etc any advice as we do nt have any experience of these acc s

Thanks

Gloomtastic!

If she's familiar with Revolut then stick with that.

Mick Tator

I disagree with Gloomster on this one. She’s a professional, she needs to start on the right foot.She would be far better off building a relationship with the likes of AIB, BoI, etc. The poster does not understand enough (business/sole trader/daughter)to give appropriate advice. She also will need an accountant, get one and use their advice/bank introduction. Tosach maith, leath na h-oibre!

Gloomtastic!

The traditional banks have had years to get their digital offering in order. My main bank is BoI. Their digital service is useless to anyone who uses it - sole trader especially. Most of my transactions now come through Revolut.

In Revolut I can tell, with a click of a button, when and how much each customer has paid me. Good luck getting that info with BoI. Likewise with payments.

I can assure you OP, if you want your daughter to have a good start to her business, look forward to the digital banks, not backwards to traditional.

Mick Tator

She is starting a dental practice. She won’t be granting credit, so won’t need to track individual payments, she will get cash (a problem for digital banking) or card payments. She will need leasing finance, eventually a commercial mortgage, etc, not provided by a digital bank.

The digital offering of the main banks might be rubbish, but they have a far greater market share and product range than digital bank offerings.

The advice she needs is to concentrate on building her practice, not on fussing about book-keeping, that job is best outsourced to an accountant.

bureau2009

https://www.boards.ie/discussion/comment/123376354#Comment_123376354

Have an excellent accountant on board.

Then your daughter can focus on clinical excellence, continuous professional development and top quality minimally invasive dentistry. There is a huge demand for a trusted, caring dentist who can deliver optimal oral health for people.

com7

Thanks for all the advice ……I ll pass it on and see what she thinks 👍️

GerardKeating

https://www.boards.ie/discussion/2058406823/advice-for-which-bank-to-open-a-sole-trader-business-acc

If she already has an accountant, then ask them to suggest one, if she does not have an accountant yet, this is a more important thing to chose first.

If she want to take card payments, something like stripe could do to start with.