Bank of Ireland UK

Bank of Ireland business bank account comparison and review

Bank of Ireland offers straightforward banking options for existing businesses, as well as specialised accounts for startup or new businesses.

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By

Tom Stelzer

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Bank of Ireland also offers business bank accounts in the UK. Below, you’ll discover the features available with Bank of Ireland business accounts and how they compare to other accounts. Due to demand, Bank of Ireland is not currently accepting applications from new customers for Business Current Accounts in Northern Ireland.

Compare Bank of Ireland’s business accounts

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Name Product Finder score Account fee Bank transfers Requires credit check Arranged overdraft Account management Key benefits Business bottom txt Link
Business Current (NI) - Small Business Start Up Account
Business Current (NI) - Small Business Start Up
Not yet rated
£25 per quarter
Free
Branch, online, app & phone
View details
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What is Bank of Ireland business banking?

Bank of Ireland offers straightforward business banking options for both companies and sole traders. It offers a standard business current account as well as a business startup account aimed at new businesses. Businesses looking to switch their account to Bank of Ireland can also do so via a simple six-step process.

It also offers business credit cards, overdrafts and insurances as well as business loans and finance.

Bank of Ireland business account options

  • Business current account. This is an everyday business banking account that is available to existing businesses and sole traders. You’ll get a debit card, and access to overdraft, cash handling services and simple pricing.
  • Business startup account. This is a specialised package designed for new businesses and startups. Applicants receive a standard current account, with no transaction or maintenance fees for the first 24 months. You’ll also get access to a dedicated phone support line, enterprise programme and free tools and guides.
  • Business agri package. This is a package designed for businesses in the agricultural sector.

Bank of Ireland business current account features

  • Contactless debit card. You’ll receive a Visa debit card that lets you access the funds in your current account from anywhere in the world.
  • Simple pricing structure. Bank of Ireland aims to provide transparent banking fees so you can control and track your spending.
  • Online, phone and mobile banking. You can access and manage your business bank account no matter where you are.
  • Business overdraft. With a business current account, you can also use an agreed overdraft to help manage your cashflow.
  • Additional accounts. You can get a savings account, business credit card and additional current account as part of the same application.

Bank of Ireland business banking fees and charges

FeeHeading
Account maintenance fee£25 per quarter
Contactless transactionFree
Automated transactionFree
ATM withdrawalFree
Staff-assisted or non-automated transaction£0.80 per transaction
Credit transfer£0.80 per transaction
Cheques/lodged items£0.90 per transaction

Bank of Ireland business banking contact details

New customers (Ireland): 1890 35 44 54

New customers (outside Ireland): +353 1 4044034

Startup or new businesses: 0818 200 413

Customer service information for Bank of Ireland

Email support
Telephone support
In-app or live chat
Contact form
Branch support

Pros and cons of Bank of Ireland business banking

Pros

  • Choice of standard or startup account.
  • Startup account comes with business resources and an initial free banking period.
  • Overdraft and business credit card options.
  • Account switching service available.
  • Branch network for in-person banking (Ireland and Northern Ireland only).

Cons

  • Standard account maintenance charge and transaction fees might be cheaper elsewhere.
  • No branch network in Great Britain.

Our verdict

The Bank of Ireland only has branches in Ireland and Northern Ireland, although its UK arm means that business accounts are also available in Great Britain, where you can use telephone banking, along with online and mobile banking. The startup account comes with a long period of free banking (24 months), as well as tools and guides to help businesses which are just getting established, although there will be the standard account maintenance charge and other transaction fees to pay after that, which may be cheaper with other banking providers.

Get started by visiting Bank of Ireland’s website and sign up for an account. If you have read this review and decided that Bank of Ireland’s account is not for you, you can also compare other business bank accounts on the market.

We show offers we can track - that's not every product on the market...yet. Unless we've said otherwise, products are in no particular order. The terms "best", "top", "cheap" (and variations of these) aren't ratings, though we always explain what's great about a product when we highlight it. This is subject to our terms of use. When you make major financial decisions, consider getting independent financial advice. Always consider your own circumstances when you compare products so you get what's right for you. Most of the data in Finder's comparison tables has the source: Moneyfacts Group PLC. In other cases, Finder has sourced data directly from providers.

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