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Best value online business banking?

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  • 27-12-2013 10:00pm
    #1
    kevin65
    Registered Users Posts: 537 ✭✭✭


    I am currently have my business account with AIB and their annual fee is going up from €200 to €250. I think this is a bit much for being able to manage my account online. Are there any business accounts with online facilities available for less?


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    #2
    mneylon
    Registered Users Posts: 7,739 ✭✭✭mneylon


    Unfortunately there isn't a lot of competition in the market these days.

    The best thing to do is talk to each of the bank about their rates. Some might have introductory offers for business ..

    Though I'd also recommend you get a "test drive" of each one's online systems, as they're not all that wonderful .. some are seriously lacking

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    #3
    kevin65
    Registered Users Posts: 537 ✭✭✭kevin65


    Thanks Blacknight. I read about issues people were having with some banks online systems and don't want to end up in similar situation. The AIB online business banking systems works fine, but I think €250 along with all the other charges is a bit steep for it's use. When I inquired before about the rate I was abruptly told to take it or leave it, so I'm going to vote with my feet.


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    #4
    srsly78
    Registered Users Posts: 7,157 ✭✭✭srsly78


    Depending on what type of business you run you might get away with just using a personal account. If it's a 1 man company then it's clearly a "personal expense account" right? This would save you a few hundred quid.


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    #5
    mneylon
    Registered Users Posts: 7,739 ✭✭✭mneylon


    kevin65 wrote: »
    Thanks Blacknight. I read about issues people were having with some banks online systems and don't want to end up in similar situation. The AIB online business banking systems works fine, but I think €250 along with all the other charges is a bit steep for it's use. When I inquired before about the rate I was abruptly told to take it or leave it, so I'm going to vote with my feet.

    Shop around.
    Unfortunately the lack of competition in the sector means that the banks can and will charge small businesses quite high fees
    We've been able to renegotiate some of the fees down over time, but we've hit plenty of brick walls with them as well eg. Forex related charges

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