Founded in 2009, Fire provides digital accounts and debit cards to business customers across the UK and the Republic of Ireland. Applications can be made online but you will need to pay a monthly fee. Read our review below to find out more.<\/p>
The Fire Business Account comes with a Euro and Sterling account as standard. Customers can open as many accounts as they need, with each account having its own sort code and account number for Sterling accounts or IBAN for Euro accounts.<\/p>
Below is an overview of the main account features:<\/p>
You will need to pay fees for the following:<\/p>
| Service<\/th> | Fee<\/th><\/tr><\/thead> | ||
|---|---|---|---|
| Monthly fee<\/th> | \u00a310\/ \u20ac10<\/td><\/tr> | ||
| Bank transfer out<\/th> | \u00a30.29 \/ \u20ac0.29<\/td><\/tr> | ||
| Bank transfer in<\/th> | \u00a30.29 \/ \u20ac0.29 1% for transfers under \u00a329 \/ \u20ac29. Minimum fee: \u00a30.10 \/ \u20ac0.10<\/td><\/tr> | ||
| Direct debits<\/th> | \u00a30.29<\/td><\/tr> | ||
| Open Banking<\/th> | 20p \/ 20c + 0.2% of the value of the request<\/td><\/tr> | ||
| Foreign exchange transfer<\/th> | 0.75% Minimum fee: \u00a31.25 \/ \u20ac1.25<\/td><\/tr> | ||
| Additional accounts (euro or sterling)<\/th> | \u00a350 \/ \u20ac50 (one-off fee)<\/td><\/tr> | ||
| Debit card fees<\/th> | No charge to issue the first card. Subsequent cards: \u20ac10 \/ \u00a310 per card (one-off) \u00a30.29 \/ \u20ac0.29 per chip and pin\/contactless\/online \u00a32.50 \/ \u20ac2.50 per ATM withdrawal* 2% international fee (non-euro and sterling) in addition to fees above <\/td><\/tr><\/tbody><\/table> *Irish customers are also charged Irish Government Stamp Duty of 12c per ATM withdrawal (to a maximum of \u20ac5 per year).<\/p> How to apply<\/h3>To apply for a Fire business account you will need to be a business incorporated in the UK or Ireland. Directors and owners must be residents and\/or citizens of the EU (other countries available on request). Applications are also accepted from sole traders based in the UK or Ireland.<\/p> To apply, you will need to register your interest on the Fire website, and once approved you will need to provide details about your business, its directors and owners.<\/p> Is it safe?<\/h3>Fire is an Electronic Money Institution in the UK and a Payment Institution in Ireland. As such, it must safeguard customers\u2019 funds by placing them in a designated account with a regulated financial institution. Should Fire cease trading, the safeguarding account is protected from other creditors making a claim against Fire, allowing customers to get the majority of their money back.<\/p> Any funds Fire holds will not be protected by the Financial Services Compensation Scheme.<\/p> Customer service information for Fire<\/h3>
|