NI Company with Irish Resident Director - Nobody will give me a bank account!!!

gary550 · 08-11-2022 12:49AM #1

Looking for advice from anyone who is an Irish resident director of a Northern Irish or UK company

Long story short I incorporated a new company in the North to trade with the UK. I'm Irish resident and the only director/shareholder.

Everything was smooth sailing Until I needed a bank account for the company!

Big no from Ulster bank, even bigger no from AIB in the north. I'm appealing the Ulster bank one as they didn't give me a reason just straight up refused despite being Irish resident in their eligibility criteria.

I'm looking at all the other alternates such as Monzo, Tide, Starling etc - all require the directors to be UK resident.

Any recommendations on banks that might deal with me? The business is a no risk business selling products - as vanilla as it gets!

Gloomtastic! · 08-11-2022 12:38PM

Who do you bank with here? Talk to them, see what they can do.

walterking · 08-11-2022 04:14PM

Revolut Business Account

Generally revolut are not great on service, but they may be the answer you need.

Unless you are dealing in large sums, the main banks will have zero interest due to the regulatory hoops you and they need to jump through.

Up to 2018 I used to buy sterling ahead as most of my suppliers invoice in sterling. Initially you needed to be buying about £500k per year, it then went to £1m and now its not worth the hassle unless its £3m+

gary550 · 08-11-2022 10:54PM

https://www.boards.ie/discussion/comment/119848803#Comment_119848803

AIB

Enquired and got a no from them, they're apparently not opening new business accounts anymore for NI customers

https://www.boards.ie/discussion/comment/119849688#Comment_119849688

Never thought of revolut, I'll have a look at them.

gary550 · 08-11-2022 11:22PM

https://www.boards.ie/discussion/comment/119849688#Comment_119849688

Just signed up with revolut

10 minutes, no documents needed to be uploaded as I linked from my personal account, a few simple questions. By far the most pain free and easy experience I think I've ever had opening anything.

Got confirmation within 5 minutes that the account was confirmed & opened.

Fingers crossed they don't come back and ask for more hoops to be jumped through!!

Thanks for the recommendation.

walterking · 09-11-2022 10:56AM

https://www.boards.ie/discussion/comment/119851257#Comment_119851257

They may need more documents if you exceed a certain limit. They also are more relaxed on regulatory requirements as they don't offer the same level of products as other banks.

1cent · 12-11-2022 07:13PM

https://www.boards.ie/discussion/comment/119851257#Comment_119851257

thanks for sponsoring russian oligarh, I am sure you are aware its russian owned business?

And did you ever checked reviews many people already scammed by dodgy revolut and employees complain of toxic work cultures.

https://ie.trustpilot.com/review/www.revolut.com?stars=1

12-11-2022 07:26PM

https://www.boards.ie/discussion/comment/119866367#Comment_119866367

Ukrainian. The C Execs are Nikolay Storonsky from Russia, but his father is Ukrainian, and Vlad Yatsenko also from Ukraine.

Gloomtastic! · 12-11-2022 07:55PM

As I posted elsewhere on here, as soon as you have a decent amount sitting in your account, move it.

1cent · 13-11-2022 10:55AM

https://www.boards.ie/discussion/comment/119866410#Comment_119866410

He born in Ukraine because father managed gazprom branch (!) and then he moved back to russia, where he competes in sport and university study. He never had Ukrainian citizenship or asked for one. Ring the bell? And looking at the reviews of people being scammed by revolut and revolut employees working in toxic environment I don't understand why would anyone give revolut any business?

https://www.indeed.com/cmp/Revolut/reviews?fcountry=ALL&sort=rating_asc

https://www.reviews.io/company-reviews/store/revolut

13-11-2022 12:55PM

https://www.boards.ie/discussion/comment/119868233#Comment_119868233

You really need a new hobby. Of your 15 posts since you joined at the beginning of the month, most of them are shiting on about Revolut being Russian and some trustpilot review. Newsflash - we don't care.

Mick Tator · 13-11-2022 02:14PM

https://www.boards.ie/discussion/comment/119866509#Comment_119866509

Agreed. The BoE took an age to grant it a licence (nothing new with BoE delays, but these were even longer than the usual). According to financial media the culture and controls in Revolut’s regulatory and compliance teams have reportedly raised concerns at the BoE, as well as whether it has an appropriate amount of employees to manage transactions. There also has been excessively high staff turnover in Revolut's compliance department.

(FWIW the Russian allegations in earlier posts are BS).

Platoo.business · 23-11-2022 07:49PM

https://www.boards.ie/discussion/2058270882/ni-company-with-irish-resident-director-nobody-will-give-me-a-bank-account

Try Platoo.business 👍

capefear · 24-11-2022 06:04PM

try fire.com

NI Company with Irish Resident Director - Nobody will give me a bank account!!!

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