Which bank has the easiest to operate bank account with no fees?

We need to open up two   bank  accounts for day to day activities, and  need a debit card, credit card, cheque book and electronic banking. There will always be at least two signatories.

We don't handle cash or need to receive online payments via credit cards.

We want nil or low fees, preferably with interest on the balance in the bank account and easy to operate internet banking.

Am aware that BOI electronic banking is very cumbersome and TSB used to or may still provide free fees and  possibly interest bearing accounts.

Are there any other banks worth talking to who focus on charity needs? Would save me a lot of time if any boady has this information

Thanks for your help



paul.meade's picture

As far as The Wheel is aware,

As far as The Wheel is aware, BOI is about to reintroduce charges for their online banking in the next few weeks. AIB have not yet announced plans to do so, but it is nevertheless considered likely that they will at some stage in the future. Therefore the available pool of free banking options is about to reduce or perhaps disappear anyway - thus the issue of free banking (which only applies to those who use online banking) will probably become irrelevant in the not too distant future. 

But really, there is no substitute for talking directly to the banks yourself for the full story.

Hugh's picture

Ulster Bank very recently

Ulster Bank very recently stated a commitment to help charities implement flexible and cost effective banking relationships. They’ve demonstrated this by offering significant discounts for the charity sector on published tariffs:

Transactional fees reduced by 50%. Bankline monthly service charge waived until 31 December 2012.

They have extended their branch opening hours to allow for an additional three and half hours per week – many branches even opening on Saturday.

Their online system “Bankline”, aims to reduce transactional fees.

It’s well worth having a chat with someone local – just drop into the nearest branch and ask for the Commercial Manager. 

quovadis's picture

Thanks Paul and Hugh. I

Thanks Paul and Hugh.

I dropped into Permanent TSB and Ulster Bank both of whom offer free fees to charities. But you must be be registered with the Revenue Commissioners for this to apply.

it did not take too long to deal with Permanent TSB but was ages with Ulster Bank and the person behind the bank initially tried to make me organise a meeting, refusing to give out the the bank terms & conditions mandates etc.

Then when she eventually agreed to get the documentation she gave me the wrong form and would not believe me when I said it was possible for a charity to be a company limited by guarantee!

It took nearly  an hour to get the written documentation between the two banks. 

Why neither bank has a handy folder with account opening documentation, terms and conditions, etc available specifically for not for profit customers seems very inefficient- given they are both trying to reduce staffing costs is strange. Still going through the documentation, but so far have not found it in writing that free fees apply to charities.