Business banking AIB/BOI specific

OU812

Looking for opinions on business banking with either AIB or BOI, their online sites, ease of opening accounts etc.

writhen

Bank of Ireland business online is the most awful banking experience you will ever have. Truly horrific.... And they charge you €15 per month for it!!! They should be paying us.

IpreDictDeatH

I'm with AIB and have no problems whatsoever.

rovoagho

AIB is better than BOI, but still crap. Ugly design and terrible usability.

Peterdalkey

Ulster Bank are generally regarded as having the best online offering.

rovoagho

Their business management seems crap though, or at least the person I talked to was, and I've heard other complaints. Annoying really, because I find their personal service great.

OU812

I've heard several bad things about ub business although their personal banking is grand.

The AIB customer interface is about the best I've come across, is the business the same?

I wish they had a demo of it online.

Would anyone be able to post a few redacted screenshots?

srsly78

OP don't open a business account, it's a scam by the banks to charge you more fees for worse service. Just open a second personal account and use that for the business, the taxman won't mind.

OU812

Yeah, was going to do that, but there's tax implications. I need to talk to the Business advice manager in the bank. Also, m accountant was on at me about it

srsly78

The "business advisor" they offer you is also a scam, merely a salesperson to push the banks various ripoff investment products like pensions etc.

Stick to independent advice.

amber2

writhen wrote: »

Bank of Ireland business online is the most awful banking experience you will ever have. Truly horrific.... And they charge you €15 per month for it!!! They should be paying us.

Unless your business account is a limited company you do not need BOI Business Online register with 365online for Joe blogs trading as company accounts a much better service much easier to navigate and its free from BOI, you select the T/A from the drop down list when registering.

If your in any doubt as to the validity of the above just put up the question in the talk to BOI section.

srsly78

Yes the bank will insist on a business account if it's for a ltd company, so just say nothing

Ignore any advice from the bank, they just want your money! The taxman has no problem with a personal account being used (is always better to use a second personal account tho, don't mix business with personal).

Also beware of the free-fees honeymoon period the banks offer for business accounts. Once this runs out you will be shocked at the fees, and by that stage it's often difficult to change accounts.

OU812

Hmmm... It is a limited company, but using a t/a... I wonder where that leaves me ?

amber2

OU812 wrote: »

Hmmm... It is a limited company, but using a t/a... I wonder where that leaves me ?

365online.com can only be used by sole traders & farm business account holders not by a limited company, sorry other than that its the €15 a month for an antiquated service.

traineeacc

I use aib and ub. No real problems with either, personally prefer the ub site for ease of use and functionality but that's just personal opinion

relaxed

srsly78 wrote: »

The "business advisor" they offer you is also a scam, merely a salesperson to push the banks various ripoff investment products like pensions etc.

Stick to independent advice.

+1

They scan your account looking to see what you are at then contact you trying to flog pensions, insurance policies and savings schemes once they think you have any bit of extra cash.

OU812

Anyone know about this ? I was onto AIB today to enquire about a business account & was told if expected turnover was less than €100k per year, I could apply for the "Personal Business" account which would be accessible through my 24hour banking.

Is there anyone using it ?

rovoagho

OU812 wrote: »

Anyone know about this ? I was onto AIB today to enquire about a business account & was told if expected turnover was less than €100k per year, I could apply for the "Personal Business" account which would be accessible through my 24hour banking.

Is there anyone using it ?

Interesting. Just sole trader I presume?

newdigi

BOI have changed their business start up package from 2 years free to 1 year free. As an existing customer I was just going to go with them but they dont seem to want customers anymore!

So now I'm stumped as to who to go with also. All the others appear to be still offering 2 years free but I don't know who to choose.

Any recommendations greatly received

srsly78

OU812 wrote: »

Anyone know about this ? I was onto AIB today to enquire about a business account & was told if expected turnover was less than €100k per year, I could apply for the "Personal Business" account which would be accessible through my 24hour banking.

Is there anyone using it ?

Yeah and look at the fees attached to the "personal business banking". Do you have a strong desire to throw e500/year away?

Again: Do NOT use a business bank account if you can get away with it.

BoI comedy: I closed my account last year and now need to get a reprint of credit card statement off them. I literally have to go into a bank branch and hand them e11.40 in cash for this. BoI card division does not accept credit or debit card as payment!!!! Serious hassle for me as I'm out of the country. If I wanted to be able to check the credit card statement online (while account was open) I had to actually sign up and pay for this extra service!!!! W T F

If you just use a normal personal account with debit card you can completely avoid all the "business account" bull****, nevermind the fees.