01 June 2017
Bank of Ireland UK was awarded 5 Star Ratings for three of its business current accounts in Northern Ireland by Moneyfacts, the UK’s leading independent provider of personal financial information.
Following Moneyfacts annual assessment of the business current account market across the UK, Bank of Ireland UK was awarded 5 Star Ratings for its Agri Package; Small Business Growth; and the Small Business Start Up accounts.
Bank of Ireland UK was the only local bank to achieve three awards from the organisation.
Gavin Kennedy, Head of Business Banking NI at Bank of Ireland UK said: “As Northern Ireland’s Enterprise Bank we work hard to ensure we have the products, the expertise and the services to support ambitious business owners.
“We created these tailor made accounts with their discounted fees and other real tangible benefits to encourage more start-ups and to help growth businesses thrive. I’m delighted that across the board – our Agri package, our Small Business Growth and our Small Business Start Up accounts have each been recognised by independent experts for the added value they bring to our business customers who are working hard to grow their business.”
Lee Tillcock, Editor at Moneyfacts, said: “Bank of Ireland UK’s Small Business Growth proposition has achieved the maximum star rating of 5 in the 2017 Moneyfacts Business Current Account Star Ratings.
“For growing businesses, the cost of a current account is a major consideration and the Small Business Growth account offers the discounts and added value that business customers are seeking. By providing real support as businesses continue to grow, this rating gives customers confidence and the peace of mind that the account will grow with the business.”
Bank of Ireland UK’s packages for new small business customers consist of a three-year deal for established growth* businesses, which gives two years of free transactions followed by a third at a 50% discount, and a two-year deal for new start-ups** offering a year’s fee-free banking followed by a year at a 50% discount.
Moneyfacts Star Ratings assess the technical merit of a range of financial products, paying close attention to the ‘added quality’ features.
The 5 Star Rating follows a comparison of important charges and features including account management, card availability, credit interest, overdraft availability, introductory offers, standing charges and transfer and faster payments costs.
Notes to editors
*Growth: In years 1 and 2, a 100% discount on Transaction Fees (as outlined in the Transaction Fees on Business Accounts section of the Schedule of Charges for Business Customers) will apply to your current account. In year 3, a 50% discount on these Transaction Fees will apply. During this 3 year fee deal, if you lodge over £10,000 in notes per quarter, 50% of the standard fee for notes lodged is charged on the excess amount over £10,000 per quarter.
**New Start Up: In year 1, a 100% discount on Transaction Fees (as detailed in the Transaction Fees on Business Accounts section of the Schedule of Charges for Business Customers) will apply to your current account. In year 2, a 50% discount on these Transaction Fees will apply. During this 2 year fee deal, if you lodge over £10,000 in notes per quarter, 50% of the standard fee for notes lodged is charged on the excess amount over £10,000 per quarter.
All other standard charges apply, including Electronic Banking, Foreign Exchange and Service charges as outlined in the Schedule of Charges for Business Customers.
Agri Package: In years 1 and 2, a 100% discount on Transaction Fees (as outlined in the Transaction Fees on Business Accounts section of the Schedule of Charges for Business Customers) will apply to your current account. In year 3, a 50% discount on these Transaction Fees will apply. During this 3 year fee deal, if you lodge over £10,000 in notes per quarter, the standard fee for notes lodged is charged on the excess amount over £10,000 per quarter.
