Best bank for a business account

WildWood80

Hi folks

Just set up my first company and need a bank.

Looks like I’m either BOI or AIB and wondering which to choose. Will basically be running a selection of direct debits out and a group of lodgements in. Standard stuff along with a bank card needed. Most purchases will be using tap. Won’t be using cash at all.

Any guidance is welcome.

whelan2

Avoid aib

WildWood80

https://www.boards.ie/discussion/comment/122035363#Comment_122035363

Thanks, Any specific reason ?

whelan2

Everything is very complicated with them. Dont rule out permanent tsb

Jim2007

https://www.boards.ie/discussion/comment/122035414#Comment_122035414

Out of interest do you do significant business banking with TSB? And what is your actual experience of business banking with AIB?

whelan2

https://www.boards.ie/discussion/comment/122035465#Comment_122035465

Moved from ulsterbank.ie to aib last year. Business account. Nothing but pure hardship from day 1. I know people who did similar and then moved to permanent tsb as they'd had enough of aib. They're very happy with their move

melchior1951

I'm happy with PTSB business banking. Online banking is old fashioned and has no app but should be sufficient if you just have a small number of transactions a month. If you do so, it's the cheapest of the Irish banks with actual branches since quarterly fees are low, though every transaction costs 23 cents IIRC.

I additionally have a free Wise business account which doesn't charge for (card) transactions and is also much cheaper for foreign currency.

Revolut Business.

The Irish banks are atrocious.

fitzgea1

Second vote for Revolut Business. Been with them over a year and no issues. BOI and AIB are a disaster

Electric Nitwit

I set up a company a couple of months ago and got a BOI account. So far so good, application was in person but pretty easy, app is decent, no charges for two years (I think)

First time dealing with them, I'm revolut for personal use, but I've been pleased with BOI

WildWood80

Revolut aren’t covered by the bank guarantee I think, also if you have an issue and they pause the account you could be in serious trouble..

Electric Nitwit

https://www.boards.ie/discussion/comment/122036229#Comment_122036229

They're covered for personal accounts now, Irish IBAN and everything (don't know about business)

3DataModem

Third vote for Revolut business. Closed my BOI business accounts this week, two years with Revolut and much much better service, features, expenses management, reporting, etc.