How to Minimise Fees and Charges

The efficient use of electronic and payment services is key to cost effective banking. Paying creditors and/or staff wages and salaries electronically is cheaper than making payments at our branch counters, by writing cheques or paying by cash.

Banking Online

iBusiness Banking (iBB) offers a wide range of services to business customers, which makes routine banking more convenient as well as decreasing the cost of carrying out your banking business.

This service allows you to:

  • Access real time information on your cash position across your branch, currency and business credit card accounts
  • Make payments between your own accounts and to third party accounts
  • Make payments from your own accounts in all major currencies to most destinations worldwide on a standard or urgent basis
  • Create Payment Files to pay staff and suppliers in Ireland and manage direct debits. Payment Files can be forward dated by up to 40 days
  • View accrued interest on your debit and credit account balances
  • View balances and transactions on accounts in other financial institutions
  • Analyse your transactions by searching and filtering your account history for up to 180 days by amount, date or description.

Other Ways of Minimising Fees and Charges

You can avoid incurring unnecessary unpaid charges or referral item charges by checking your account balance regularly to ensure there are sufficient funds to pay cheques, standing orders and direct debits presented.

  • By operating your account within the authorised limit, or in credit in the absence of an agreed limit, you can avoid incurring surcharge interest or referral item charges.
    • At present the surcharge interest rate is 12% (variable) per annum and is payable on unauthorised balances in addition to the Bank’s AA Overdraft rate, or such other rate as may have been agreed with you. If you feel that you need a new or increased facility, you should contact your branch or Relationship Manager.
  • Acceptance of debit and credit card payments could help to reduce the cash and cheque elements of your lodgements. There is also an associated reduction in security risk derived from lower cash holdings.
  • Using a Company Visa Card to cover employees’ expenses is cheaper than paying expenses by cheque or cash.

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