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Bank of Ireland
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Things are finally on the upswing for the Irish banking giant who experienced a period of losses and stagnant growth. Recent bursts of good fortune have caused the bank to capitalize on its investments and the bank is looking to invest into different projects across the world. Something else that also seems to be benefiting the bank, is the rumor that KCB Bank is looking to break its ties with Ireland. Thousands of employees are worried about their jobs and this is also a time where customers will reconsider their loyalty to the bank. This makes it the ideal time for the Bank of Ireland to solidify its position as the top bank in Ireland. But how does it compare to its peers?

History of Bank of Ireland

Bank of Ireland
Screenshot of the History of Bank of Ireland

The bank enjoys a long and rich history. In 1783 it opened its doors to the public. The first building that housed the bank was St Mary’s Abbey in Dublin. A few years later, the bank purchased the premises at College Green and in 1808 this premises opened to the public. Over the next decade or two, seven more branches opened in Cork, Waterford, Clonmel, Newry, Belfast, Londonderry, and Westport.

In 1864 the bank paid interest on deposits for the first time. By the 1900s, the bank had grown its footprint to 58 branches, which grew to 75 branches by 1920. In 1926 the bank acquired National Land Bank and changed its name to the National City Bank Ltd. It weathered the storms of both world wars and proceeded to assist the local government with finance projects. This was necessary in all of Europe in order to rebuild the war-ravaged regions. Furthermore, these projects were crucial to give trade and industry the boost it needed to restore the economy.

In 1958 the bank acquired the share capital of Hibernian Bank Ltd. A decade later, the bank took over the interests of the National Bank Ltd. It then changed its name to the National Bank of Ireland Ltd. The Investment Bank of Ireland was established soon after, as well as Bank of Ireland Asset Management. In 1969 the National Bank of Ireland, Hibernian and Bank of Ireland merged to form the Bank of Ireland Group.

In the eighties, the first PASS ATM was launched. This was soon followed by access cards. Throughout the remainder of the eighties and nineties, the bank launched various products. Just before the new millennium, the 365 Online Banking was launched.

The 2000s proved to be a year of investments and acquisitions. In 2008, while the rest of the financial world was falling apart, the Irish government decided to insure the deposit of customers at 6 Irish financial institutions. The bank also required the intervention of Government to recapitalize and received €3.5 billion. In 2010, the bank underwent a restructuring plan. In the aftermath of the financial woes, the bank is slowly rebuilding its financial foundation.

Access to Bank of Ireland  

Online Banking

Bank of Ireland
Screenshot of Online Banking Login Options Bank of Ireland

Customers have access to internet banking and can perform a multitude of transactions on it. Furthermore, certain accounts can also be opened online.

Branches

The bank offers the traditional setup of branches in key locations across Ireland. There are also branches in London, parts of Europe, and the United States.

Bank of Ireland Personal Banking Product Offerings

Bank of Ireland
Screenshot of Personal Banking Home Page Bank of Ireland

Current Accounts

Personal Current Account

Customers who need an account to fit in with their lifestyles will find this to be the perfect fit. Furthermore, the account makes everyday banking easier.

  • Customers have access to a Visa debit card with the contactless feature.
  • There is an overdraft facility available for this account.
  • Furthermore, customers enjoy a simple pricing structure.
  • Also, the account provides access to online, mobile, and phone banking.
  • Finally, the account allows easy payments.

Young Saver Current Account

This is account is ideal for those who wish to teach their children how to save. Furthermore, the account is suitable for those up to the age of 12.

  • Young customers will learn the value of saving for what they want.
  • Also, customers will receive interest on their savings.
  • Furthermore, they can easily access their funds.
  • The account is opened online in minutes.
  • Finally, customers receive a free backpack.

2nd Level Current Account

Students who require more from their banking will find this account to be a great fit. Furthermore, the account allows them the opportunity to have better control over their money.

  • Customers can access their funds anytime, day or night.
  • Also, the account includes an ATM and Visa debit card.
  • Furthermore, they have access to Text Top Up, online, mobile, and phone banking.
  • Finally, customers don’t have to pay transaction fees.

3rd Level Current Account

This account is suitable for 3rd level students studying for an undergraduate or postgraduate qualification. Furthermore, the bank is represented on nearly every campus across the country.

  • The account carries no transaction fees.
  • Also, customers have access to a Visa debit card.
  • Furthermore, they qualify for discounted student loans.
  • Finally, the account provides access to online, mobile, and phone banking.

Graduate Current Account

Customers who have graduated from a full-time third level education will find this account to be ideal. Also, customers benefit from a range of services and expert financial advice.

  • The account provides access to lodgements and direct debits.
  • Furthermore, the account can process debt card transactions. Customers also have access to a Visa debit card.
  • The account links to online banking.
  • Finally, customers can apply for a graduate overdraft.

Basic Bank Account

This account is suitable for the customer who wishes to simply perform their everyday banking tasks. Also, the account provides access to an easy payment solution.

  • Customers have access to a Visa debit card.
  • Furthermore, there is 365 phone and online banking access.
  • Finally, the account provides access to online, mobile, and phone banking.

Golden Years Current Account

This account is suitable for those who wish to have access to unique benefits when they turn 66. Furthermore, the account provides customers with reduced fees and charges.

  • Customers don’t have to worry about quarterly transaction fees.
  • The account provides access to a Visa debit card.
  • Also, customers can apply for an overdraft facility.
  • Furthermore, the account provides access to online, mobile, and phone banking.
  • Finally, customers have access the bank statements and transactions at a reduced cost.

Mortgages

There are various mortgage options for those who are in the market, and the loan type will largely depend on the phase the customer finds themselves in. There are solutions for:

  • Investors
  • Existing Customers
  • Those who are building their new home
  • First Time Buyers
  • Movers
  • Switchers

Credit Cards

Bank of Ireland
Screenshot of Credit Card Options of Bank of Ireland

Classic Credit Card

This is an everyday credit card that carries no annual fee. Furthermore, the account carries 0% interest on purchases for the first 6 months.

  • Customers benefit from certain free transaction fees.
  • Also, there is no annual fee but the Government Stamp Duty still applies.
  • The loan turnaround time is fast and customers can be approved within 24 hours.
  • The card offers a low-cost installment
  • Finally, customers have access to SuperValu Real Rewards.

Platinum Advantage Card

This is the lowest interest rate card for new and existing Bank of Ireland customers. Furthermore, customers will know whether they qualify within 24 hours.

  • There is a 0% intro interest rate for the first 6 months.
  • Also, customers benefit from not paying transaction fees on certain items.
  • Furthermore, the card provides access to SuperValue Real Rewards.
  • Finally, customers have access to free travel insurance.

Affinity Credit Card

Customers who wish to contribute to a college of their choosing will find this card to be a good fit. Furthermore, these donations are at no expense to the customer.

  • This is a college branded card.
  • Customers benefit from certain free transactions.
  • Also, there are no annual fees however Government Stamp Duty still applies.
  • Customers will find out whether they’re approved within 24 hours.
  • There is a low-cost installment
  • Finally, the card provides access to SuperValu Real Rewards.

Student Credit Card

This card is specifically designed to meet the budget, lifestyle, and financial needs of students. Furthermore, the credit limit is capped at €1,000.

  • The limit on the card is €500 in the first two years of study and then increases to €1,000.
  • The card is suitable for students who are in full-time study.
  • Furthermore, there is no annual account fee. Government Stamp Duty does still apply.
  • Customers enjoy an intro 0% interest rate for the first 6 months.
  • The approval takes place within 24 hours after receiving all the required documents.
  • Also, customers benefit from free travel insurance.
  • Finally, the account provides access to Super Valu Real Rewards.

Loans

Personal Loan

This loan type is suitable for those who have personal financial needs. Furthermore, this includes holidays or an unforeseen event.

  • Customers have access to flexible terms with the personal loan.
  • The loan carries a low variable interest rate which is determined by the customer’s creditworthiness.
  • Furthermore, customers can repay their loan over a term of 1 to 5 years.
  • They can also defer their loan repayments.
  • Loan amounts are up to €65,000.
  • Finally, the money is paid directly into the account after a quick and easy application.

Car Loan

This loan provides customers with access to funds to purchase their own car. Furthermore, customers have the option to make extra payments to clear their loan early.

  • Customers enjoy variable rates based on their creditworthiness.
  • Also, the repayment term on the loan is from 1 to 5 years.
  • Customers can defer their loan payments.
  • The loan amounts are up to €65,000.
  • Finally, the money is paid into the account after a quick and easy application.

Home Improvement Loan

This loan is ideal for those who wish to make improvements to their property. This could include converting an attic, a new kitchen, and also a home extension.

  • Loan amounts are up to €65,000.
  • Furthermore, customers have the option to repay the loan over 1 to 7 years.
  • Also, the loan has a variable interest rate that is determined by the customer’s creditworthiness.
  • Customers can defer their loan repayments.
  • The money is paid directly into the customer’s account.
  • Finally, there are no hidden fees or charges.

Graduate Loan

This loan is suitable for those who have just graduated from college. Furthermore, the loan provides the means for students to set up their new lives as they enter the job market.

  • Customers enjoy a variable rate which is determined by their creditworthiness.
  • Furthermore, they can repay the loan over 1 to 5 years.
  • Customers have access to flexible repayment options.
  • Also, the loan amounts start from €1,000.
  • Customers have access to deferred loan repayments.
  • Finally, this is a quick and easy application process.

College Finance Loan

This loan is a simple an effective means for parents to fund the cost of their child’s undergraduate Student Contribution Charges.

  • Customers benefit from competitive interest rates.
  • Furthermore, they can borrow up to €3,000 per year.
  • Also, the maximum loan term is 8 years.
  • Finally, this loan enables parents to spread their costs.

Student Loans

There are a variety of different student loans to cover the needs of the student. Whether they need to money for everyday college expenses or for their student contribution charges.

Overdraft

This is a revolving facility that allows customers to go into an authorized negative balance. Also, this facility prevents returned debit orders and bounced checks.

  • Customers can withdraw up to the agreed limit.
  • Furthermore, the variable rate is determined by the customer’s creditworthiness.
  • Also, customers can apply online in minutes.
  • Finally, this is a quick and easy application process.

Consumer Hire Purchase

This loan type is suitable for those who wish to purchase a vehicle over €7,000. Furthermore, this loan package offers customers a low fixed interest rate.

  • Customers have access to repayment terms from 2 years.
  • Also, customers will own the car once the term finishes.
  • Finally, this is an easy application process.

Savings

Bank of Ireland
Screenshot of Savings Options Bank of Ireland

Online Savings Accounts

365 Monthly Saver Account

This account is available to those who have registered as 365 online users. Furthermore, the account is opened online in minutes.

  • This is the ideal account for those who wish to have limited access to their funds.
  • The account is only available to individuals as sole accounts.
  • Furthermore, a variable interest rate applies.
  • Also, the account is opened within minutes.
  • Finally, customers can access their funds with 7 days’ notice.

365 31-Day Notice Account

Customers who have registered as 365 online users, can open this account. Furthermore, the account is opened online within minutes.

  • The account carries a 31-day notice period.
  • The minimum lodgement on the account is €5,000.
  • Also, a variable interest rate applies.
  • Finally, customers can open the account as a sole account only.

365 12-Month Fixed Term Deposit Account

Customers who wish to set aside some funds for a period of time will find this account ideal. Furthermore, the account as a fixed term of 12 months.

  • The minimum lodgement on the account is €5,000.
  • Customers also enjoy the benefit of a fixed interest rate.
  • The account can be opened as a sole account only.
  • Furthermore, the account is opened online within minutes.
  • This account is available to those who have registered as 365 online users.
  • Finally, there is no access to the funds during the term.

Regular Savers

MortgageSaver Account

This account is the ideal starting point for those who wish to save up for a Mortgage. Furthermore, it is the ideal solution for those who wish to save regularly.

  • The account is opened in minutes and customers do so online.
  • It allows customers to save up to €2,500 per month.
  • Also, customers can save monthly by direct debit.
  • Furthermore, joint accounts are available.
  • Residents of ROI can open the account.
  • Finally, customers have instant access to the account in any branch.

365 Monthly Saver Account

365 Online registered users can open the 365 Monthly Saver Account online. Furthermore, the account is opened in minutes.

  • Customers can save up to €2,000 per month.
  • Also, the account offers a variable interest rate.
  • These accounts can only be opened for sole users.
  • Finally, customers have access to the account with 7 days’ notice.

GoalSaver Account

The GoalSaver account holds more benefits than merely just providing a platform to save on a regular basis. It also offers customers the opportunity to win €25,000 towards their savings goals.

  • Customers can save between €20 and €2,000 per month.
  • Furthermore, customers can save monthly by direct debit.
  • Joint accounts are available.
  • Finally, BOI clients can open their accounts online.

Fixed Term Savings Accounts

Advantage Deposit Account

Customers who wish to put away a lump sum for an extended period will find this account suitable. Furthermore, customers can choose a term to suit their personal needs.

  • The minimum lodgement on the account is €5,000.
  • Customers earn a fixed rate on this account.
  • Also, the terms available are 3 to 24 months.
  • Customers have a choice of access levels.
  • Finally, the interest is paid at maturity.

Growth Deposit Account

This account is suitable for customers who won’t need access to their funds for a number of years. Furthermore, the benefit of this type of account is that customers enjoy a guaranteed rate of interest.

  • The minimum lodgement on the account is €5,000.
  • Also, customers choose a term between 3 to 7 years.
  • There is no access to the funds during the term.
  • Finally, interest on the investment is paid at maturity.

Demand and Notice Accounts

Demand Deposit Account

This is a simple savings account that provides customers with easy access. Also, this account is suitable for short-term savings.

  • Customers can open the account with as little as €1.
  • Furthermore, the account carries a variable interest rate.
  • Customers can open the account online.
  • Finally, the account allows instant access to funds.

Notice Deposit Account

This account is suitable for those who wish to deposit their funds for an undetermined time, however, have access to the account within a specific notice period.

  • The minimum lodgement on the account is €5,000.
  • There is a variable interest rate on the account.
  • Furthermore, the terms are 31 to 90 days.
  • Finally, customers can serve their notice online.

Childsave Account

This is the ideal savings vehicle for those who wish to save towards children’s future. These children include godchildren, children, and grandchildren.

  • The account can accommodate monthly lodgements or lump sums.
  • Furthermore, customers can also choose to save monthly by direct debit.
  • The account is opened in the parents
  • Also, the account can receive lodgements of up to €10,000.
  • Finally, customers have instant access to their money.

Currency Deposit Account

This account is suitable for those who may need to make a foreign currency payment in future. Furthermore, customers who send and receive regular payments in the same non-Euro currency will find this beneficial. This includes university fees in a different country, a foreign currency salary, and more. This is also a viable option for those who wish to manage their overall foreign currency exposure.

Investments

Bank of Ireland has an extensive investment portfolio, and customers are encouraged to call their expert advisors for the best options.

Pensions

There are a variety of options available for the various life stages. Furthermore, customers have access to products that are tailored to their individual situations as well.

Insurance

Home Insurance

This option is suitable for those who need protection for a valuable asset: a home. Furthermore, there are options available for homeowners, tenants, landlords, and holiday homes.

  • Customers have access to a free installment plan.
  • Comprehensive cover and tailored options are available.
  • Customers will also enjoy an easy claims process.
  • The plans offer a 24-hour emergency helpline.
  • Finally, there are payment options to suit the needs of the customer.

Car Insurance

Customers have access to flexible cover that suits their budget and individual needs. Furthermore, there is an option between the Popular or Prestige product.

  • The plans include breakdown or rescue cover.
  • Also, audio and windscreen cover options are available.
  • Furthermore, customers enjoy cover to drive other cards.
  • EU cover is an option.
  • Finally, customers enjoy a hassle-free claims process.

Travel Insurance

There are a variety of travel options that suit the needs and budgets of customers. Furthermore, customers and single or multi-trip options to ensure convenience.

  • Customers can choose between different levels of cover.
  • There are also cancellation options.
  • Finally, options include medical expense cover, personal money cover, and personal belongings cover.

Life Insurance

Various option are available to protect families, individuals, and mortgages.

  • Life cover
  • Specified illness cover
  • Income protection cover

Bank of Ireland Business Banking Product Offerings

Bank of Ireland
Screenshot of Business Banking Home Page Bank of Ireland

Current Accounts

Business Current Account

Business owners who require a simple banking structure for their account will find this to be an ideal starting point. The account provides everyday access, which enables business owners to perform their transactions with ease. Furthermore, it has a simple price plan that saves time and money.

  • Customers have access to a debit card with contactless for their purchases local and abroad.
  • The account also provides access to online, mobile, and telephone banking.
  • Customers can apply for an overdraft facility on the account.
  • Furthermore, this is a quick and easy way to pay bills and other payments.
  • There are cash handling services available.
  • Finally, additional current accounts, savings accounts, and a business credit card can be applied for in one application.

Business Startup Account

Businesses who are just starting out have different needs to established businesses, therefore, a startup account is the ideal option.

  • The package includes everything that will help business owners get up and running.
  • Customers have access to an account that has the transaction and maintenance fees waived for the first 24 months.
  • Furthermore, customers enjoy the assistance of a dedicated Business Startup support line.
  • Customers also have access to unique special offers from outside vendors, such as website packages, when they open the account.
  • The account provides access to the extended Enterprise Program.
  • Customers also have access to free tools, guides, and online support.
  • Finally, startup business customers have access to workbenches located in Galway, Dublin, Cork, and Limerick.

Business Loans

Business Loan

This is a straight-forward business loan that provides businesses with the additional cash injection they may need from time to time. Furthermore, customers can apply for the loan online.

  • The loan provides customers with funds to meet their working capital needs. It is also an investment to grow the business.
  • Customers have access to flexible repayment terms to support their business needs.
  • Furthermore, the business loans are tailored to the customer’s cash flow.
  • Finally, customers can borrow from €1,000 to €100,000.

Business Overdraft

This loan type provides customers with access to funds for immediate cash flow needs. Furthermore, this is a revolving-type facility.

  • Customers can renew their overdraft on an annual basis.
  • Also, customers only pay for what they use and competitive interest rates are assured.
  • This is the most common short-term finance and works in conjunction with the current account.
  • The overdraft is tailored to the needs of the business.
  • Finally, this is a flexible source of funding.

Farm Loans

Customers who wish to invest in their farms but don’t have the capital to do so may find it beneficial to apply for these loans.

Farm Development Loan

This loan is suitable for those who wish to expand their production. This could mean expanding on an existing line or even venturing into a new type of farming. Furthermore, this loan type is also suitable for those who need to upgrade their farm buildings and equipment.

Land Purchase Agri Loan

This is a suitable option for those who own a piece of land and need to expand on it.

  • Customers have access to a competitive and flexible solution when they expand their farm.
  • Furthermore, it combines a competitive interest rate with long term repayment options. This is also designed to suit the individual farm cash flow.

Farm Machinery and Equipment Finance

This finance provides customers with access to a comprehensive range of payment or rental plans.

  • Customers have access to tax-efficient methods of acquiring farm machinery and equipment.
  • Furthermore, finance provides a cash flow friendly solution to acquire equipment.
  • The solution provides specific and general equipment finance solutions.
  • Finally, customers have access to leasing, term loans, and hire purchase plans.

Farm Current Account Overdraft

A current account overdraft provides farmers with a short-term cash flow solution for those ad hoc expenses that crop up from time to time. Furthermore, this is the ideal solution to allow farmers to stay on top of their banking needs.

Finance and Leasing

Asset Finance

This loan type is suitable fo companies who need to preserve credit lines. Furthermore, this is the ideal type of finance for those who don’t have security available for additional bank facilities.

  • Hire Purchase – this is a straightforward finance facility. Also, the rental payments are fixed.
  • Leasing – customers have access to 100% finance. Furthermore, rental payments are fixed.

Commercial Finance

This option is suitable for those who have debtors who are slow to pay. Furthermore, this type of finance is ideal for those who would have use for the funds if they were paid sooner.

  • Customers can access up to 85% of approved invoices within 24 hours.
  • Also, this means that the business continuously has access to the cash. This increases the sales without the burden of loan repayments.

Leverage Finance

This type of finance is suitable for MBOs, acquisitions, share buybacks and more. This type of finance is usually a combination of several banking products, such as senior debt, junior debt, asset finance, FX facilities and more.

Commercial Mortgages

Customers have access to flexible commercial finance options at competitive rates.

  • This loan type is available for those who require funding to purchase, extend, or refurbish their business.
  • There are flexible medium and long-term funding solutions.
  • Furthermore, there is no penalty interest for early repayment on variable rate Commercial Mortgages.
  • Customers also have access to a range of interest rate hedging options.
  • Finally, the interest is charged quarterly.

Strategic Banking Corporation of Ireland

This loan type is specifically designed to support growth in SMEs.

  • Customers who have under 250 employees and have a turnover of less than €50 million, meet some of the criteria.
  • This loan option offers competitive interest rates.

SBCI Agriculture Cashflow Support Loan

This loan type is suitable to ease the cash flow needs of Irish Farmers.

  • The loan amounts go up to €150,000. Furthermore, there are no minimums.
  • The term of the loan can be between 1 and 6 years.
  • Also, these loans are unsecured.
  • Customers have access to optional interest only repayments provided at the start of the loans.
  • Finally, loans are provided at a fixed interest rate.

Business Savings Accounts

Fixed Term Deposits

This is a suitable option for those who wish to put a lump sum away safely. Furthermore, there are tailored deposit options to suit the needs of the business.

  • Customers enjoy a term length of 3 to 7 years.
  • The account requires a minimum balance of €5,000.
  • Furthermore, it accepts a single lodgement only.
  • There are no withdrawals permitted during the term of the deposit.
  • Finally, the interest is paid on maturity.

Business Demand Deposit Account

This is a flexible deposit option that is tailored to the business needs.

  • There is no minimum or maximum account balance required.
  • Furthermore, customers have unlimited access to make lodgements and withdrawals.
  • Finally, the account offers a competitive variable deposit interest rate.

Currency Deposit Account

This type of account provides a comprehensive range of foreign exchange services. Furthermore, this includes the operation of a foreign currency account.

  • Currencies that are accommodated include Sterling, US Dollars, Australian Dollar, Canadian Dollar, Swiss Franc, and Polish Zloty.
  • Customers who need to make a foreign currency payment in the future will find this account to be beneficial.
  • This is also suitable for those who send or receive regular payments in the same currency. This is suitable for university fees, those who receive a salary in a foreign currency, and more.
  • Finally, this is also convenient for those who want to manage their overall currency exposure.

Business Cards

Business Credit Card

A business credit card offers business owners control, simplicity, and certainty. Furthermore, customers don’t pay transaction fees on goods and services. However, cross-border handling fees apply to non-Euro transactions.

  • Customers enjoy up to 37 days’ interest-free credit on purchases. This means if customers pay in full every month by direct debit, they can avoid paying interest charges.
  • Also, customers have access to Bank of Ireland CardController. This allows businesses to manage employee spending.
  • Furthermore, customers can set individual credit limits per card.
  • There are also unlimited numbers of cards per account.
  • Finally, customers are protected against unauthorized transactions with card liability waiver insurance.

Gold Business Credit Card

This card offers business owners flexibility and control where their business spend is concerned. Furthermore, this card offers business owners access to additional features such as airport lounges, priority check-ins, and fast-track access.

  • There are no transaction fees with this account when customers use it to pay for goods and services.
  • Customers also enjoy up to 37 days’ interest-free credit on purchases.
  • The bank also provides customers with access to the Bank of Ireland CardController.
  • Furthermore, customers are able to track their spend with detailed monthly cardholder statements.
  • Finally, customers have access to Gold Card Business Online. This allows customers to manage their expenses online.

Payment Acceptance Solutions

This option allows businesses to receive their payments with ease. Furthermore, it provides a fresh alternative to traditional card payment solutions.

  • Customers can grow their business by accepting card payments.
  • They can also provide their customers with an added payment choice.
  • Furthermore, this services improves cash flow management with next day settlement.
  • Customers have access to a transparent pricing matrix. BOIPA is the only provider to offer a simple Fixed Pricing Plan with no hidden fees.
  • It provides customers with solutions in-store, on the go, and online.
  • Finally, customers enjoy exceptional service with a team of specialist engineers.

International Trade

Bank of Ireland FXPay

This is a digital payment solution that takes care of foreign payments. Furthermore, the system is designed by customers specifically for business.

  • There are no standard payment fees.
  • Customers enjoy simplicity as it is easy to use. They can also use it anywhere and anytime.
  • Furthermore, the portal is secure.
  • Finally, customers don’t need to open an account with Bank of Ireland to make use of the facility.

Markets

Customers have access to a range of tools to allow them ease of navigation through the various markets.

Trading Abroad

Customers have access to a premier global trade network WebPortal Global. Customers have access to services such as:

  • Currency Risk Management – over 32 currencies
  • Trade Finance
  • Correspondent Banking
  • Invoice Financing
  • Electronic Banking Solutions

Bank of Ireland Corporate Banking Product Offerings

Bank of Ireland
Screenshot of Corporate Banking Home Page Bank of Ireland

Growth Funding and Acquisition Finance

Loans

Customers have access to a variety of funding solutions for their business. Furthermore, these are used to finance general business needs over a specified period of time.

Syndicated and Structured Loans

These are more complex financing and may require the assistance of specialists.

Property Finance

Customers will access to funding for property development and property investment. They will also have access to advice from an expert Property Finance Team.

Bonds, Guarantee, and Letters of Credit

Customers enjoy tailored products that meet their needs.

Equity Funds

There are equity funds to meet the needs of the customer. Kernel, Delta, and BDO manage the funds.

Asset Finance

Customers who wish to keep a handle on their cash flow will choose asset finance for larger purchases.

  • Hire purchase – This is a straightforward finance facility where the rental payments are fixed.
  • Leasing – Customers may borrow up to 100% and the rental payments are fixed.

Leveraged Acquisition Finance

Customers have access to an acquisition team that has a global presence. This team can help with the finance of:

  • Management buy-outs and buy-ins
  • Leveraged buy-outs
  • Leveraged corporate acquisitions
  • Public to privates
  • Capital re-organisations
  • Capital expansions

Property Finance

Customers have access to attractive financing packages to leading property developers and investors.

Day-to-Day Cash Management

Operating Accounts

These are essential to ensure the smooth running of a business. Furthermore, customers will be able to receive and payments, as well as track their transaction. The account also provides the means to monitor cash flow.

Card Services

Customers have access to a variety of commercial card solutions. The offerings include:

  • Business Credit Cards
  • Gold Business Credit Cards
  • Visa Debit Cards

Electronic Banking

Bank of Ireland provides a range of electronic banking services. Furthermore, businesses have a separate online portal to individuals.

Treasury Services

Customers have access to competitive foreign exchange rates. Services include

  • Foreign exchange
  • Risk management solutions
  • Deposits and cash solutions

Trade Finance

Doing international business can be daunting, however, the Trade Finance team can make the process a lot smoother for customers. Furthermore, customers have access to a host of services.

  • Customers are able to make payments effectively and easily.
  • The service includes securing export contracts.
  • It also includes securing payments for export goods.
  • Furthermore, it can be competitive by offering extended credit terms.
  • Customers will be able to obtain competitive finance without relying on existing bank facilities.
  • The service also offers secure delivery of imported goods.
  • Finally, customers will benefit from improved cash flow on their payment receivables.

Project Finance

Customers have access to a team of professionals who take care of complex project financing. They put these deals together with the greatest care. A variety of projects make up a single project. Furthermore, they manage each part of the project carefully. This is to ensure they meet the financial objectives of the client.

Transaction Support and Agency Services

This division takes care of the transactional needs of customers. It offers Facility Agent Services, Security Trustee Services, and Escrow Solutions.

Escrow Agency Services

This agency acts as a neutral 3rd party. They hold assets in escrow until customers meet obligations or complete their projects.

Review of Bank of Ireland – 10 of 10

Customer Satisfaction Review

TrustPilot

Bank of Ireland
Screenshot of TrustPilot Rating of Bank of Ireland

The bank enjoys a 5.4 of 10 on this site, which is high. Furthermore, the rating is much higher than any other bank we've come across on the site so far. This rating counts heavily in the favor of Bank of Ireland, as customer satisfaction is very important. Also, with the possibility of other international banks looking to vacate Ireland, the bank is in the ideal position to capitalize on market share. Finally, although rating is still considered low, this is a massive milestone for the bank.

Glassdoor

Staff morale at the bank is less than ideal. The rate the work environment at 66% and only 79% of staff approve the CEO.

Indeed

This site has a higher opinion of Bank of Ireland as an employer. It rates the bank at 3.9 of 5.

Financial Stability Rating

The bank recently experienced an upgrade in their ratings. They also enjoy positive and stable ratings.

Security of Funds

The Deposit Guarantee Scheme covers deposits at Bank of Ireland up to a certain threshold.

Review By Critical Reviews

Bank of Ireland is one of the easiest banks to liaise with. Furthermore, the layout of the website is easy to navigate and customers have an upfront idea of the products and services provided. Furthermore, customers are in the loop regarding fees and restrictions on their products, as the bank is forthcoming and transparent. There are a number of products across different categories to meet the needs of various clients. Furthermore, the different divisions cater optimally for the various needs of customers. The customer satisfaction ratings are also quite high.

The bank seems to be on an upswing at the moment, and the only detractor is the fact that employees seem a bit disgruntled. Once this staff morale picks up, so will this rating.

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