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Hi,
As I understand it, its a business banking electronic overdraft. The facility permits:
- borrowing within an agreed limit at 6.35% variable, with the ability to repay & withdraw as you like
- 500 free electronic transactions per month (direct debits, standing orders, electronic transfers within Ireland)
- free online access to your account
* The account does not provide a cheque book.
* The account is provided on a secured lending basis
* The Bank is seeking to obtain a certain level of overall business from each customer, although I gather this does not have to all happen the same day (ie loans, leasing, trade finance, overdraft etc).
Hope this helps,
regards
G>