Business bank a/c charges

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powernap

Registered User
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BOI have informed me that i am no longer entitled to free business banking after a two year introduction. i only receive a max of 24 invoices a year paid DD into the a/c and write a max of 30 cheques a year so i probably make more transactions on my current a/c. i dont have internet banking or any business loans and the a/c operates like a current a/c.what charges am i likely to incur.
 
Can't you figure this out for yourself by looking at your transactions over the past year and then multiplying each category by the relevant transaction fee that will now apply?
 
i dont know what charges i'm going to incur. i'm afraid that just because it is a business a/c i'm going to get fleeced for a monthly fee. a year ago they were looking for €10 or more a month for internet access to the a/c.
 
powernap said:
i dont know what charges i'm going to incur.
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Your bank must have a charges/tariff sheet outlining the charges that will apply from now on?
i'm afraid that just because it is a business a/c i'm going to get fleeced for a monthly fee. a year ago they were looking for €10 or more a month for internet access to the a/c.
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Is €10 a month a make or break cost for your business!?
 
I think Bank of ireland charge 5.25 account maintenance per quarter. along with about 30cent per transaction you do . so you can easily work out what it will be from your information. I know that internet banking can be quite expensive though. You need to ask yourself is it necessary. Other than that i wont say if the ten euro is make or break is relevant to the cost of transacting you business because that is hardly the spirit of how to operate a business. If you take that attitude to every little/small cost you could lose your competitivness in your market and also be giving away profit for no /little reason. More relevant however is how your bank treat you and how reliable / good they have been over the last two years.
 
thanks for that moneyman. thank god it would take a lot of €10 to break me but the fact that the same basic service is free for a current a/c etc would annoy me no end.
 
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Bank of Scotland Ireland have a [broken link removed] with no charges. Lodgements can be made through their Halifax branches.
 
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