Bank of Ireland launches new Business on Line Package with special discounted offers

Bank of Ireland, Business Banking today, 11 April 2008, announced the launch of its new Business on Line Package for business customers setting up online banking accounts.

  • 20% increase in online usage in 2007
  • 18% increase in online payments in 2007

Bank of Ireland, Business Banking today, 11 April 2008, announced the launch of its new Business on Line Package for business customers setting up online banking accounts. New customers who sign up will be entitled to 6 months free subscription to Business on Line, a Visa Business Card with the annual fee waived for the first year and a scheduled consultation with one of the Bank’s treasury specialists to discuss their currency needs. These offers are available any time within a 6 month period, between 1 April 2008 and 30 September 2008, from the date of opening a Business on Line account.

In addition, new customers can save even more by availing of discounted offerings from seven companies including €100 worth of free advertising with Google AdWords, 50% off BT Business Broadband and 85% off website design from Chooboo.

According to Dermot Nolan, Head of Payments Strategy, Planning & Change, Bank of Ireland: We have seen substantial increases in the number of online usage and online payments in 2007. The number of online usage increased by 20% and online payments increased by 18%. Business on Line is designed to meet both the online banking needs of business customers and their wider banking needs in terms of payments and transactions.

New customers who avail of the Business on Line package stand to make considerable savings from the range of discounted offers. More importantly, by banking online, business customers will save time, money and benefit from an easier and more efficient method of managing cashflow. A business that writes 100 cheques per month could save over €1,000 in their first year of using Business on Line. With the recent doubling of stamp duty on cheques, it makes even more sense now for business customers not already doing so, to begin banking online.

According to the Irish Payment Services Organisation, Irish businesses are generally slow adaptors to online banking. Currently, Ireland is the third highest nation of cheque issuers in Europe. However, we are seeing an increasing number of customers availing of Business on Line and average daily payment volumes have almost doubled since 2004 and this trend is set to continue. In addition, 10% of all payments are made outside of normal opening hours, further demonstrating the convenience of online banking. More and more businesses are realising that it makes sense to be able to view their account transactions and balances, pay staff and creditors and download bank account details to their accounting package from the comfort of their office or home. Our new Business on Line package will help more business customers realise the benefits of banking online, concluded Dermot Nolan.

New customers can sign up to Business on Line by contacting their local branch or by logging onto and clicking on the business banking tab.

Cora Whyte
Group Corporate Communications
Bank of Ireland
Ph. 00 353 1 604 3324

Note to Editors:
Customers who sign up for this package will be entitled to 6 months free subscription charges to Levels 1, 2 and 3 of Business On Line.
Details of the Business On Line Package

  • 6 months free subscription to Levels 1, 2 and 3 on Business On Line
  • A waiver on the first year Visa business card annual fee available at any time over the 6 month period
  • Free 1 hour consultation with one of our Treasury Specialists

Discounted Third party offers

  • 85% off website design from Chooboo
  • Free online shop/website (with free image enlargement) and free product uploads to Facebook & Google and many more channels from Shopcreator
  • €100 free online advertising with Google AdWords
  • 50% off both Big Red Book Payroll and Electronic Funds Transfer packages and 30% off all Big Red Book software
  • 50% off BT Business Broadband or 50% off BT Business One Plan – the plan that combines your mobile landline and broadband needs in one package
  • 50% off the setup fee and 10% off all recurring service charges for direct debit processing and reconciliation facilities from Realex Payments
  • 2 hour free consultation from Global Tax reclaim

The offers are valid for accounts opened between the 1st April 2008 and September 2008. Additional ebanking services are not covered by this offer. For further information, contact 0818 210 619. Bank of Ireland does not give any representations or warranties about the firms used in the scheme and does not accept any liability in respect of the advice or service provided in any circumstances.

Bank of Ireland is regulated by the Financial Regulator.

About Bank of Ireland Business Banking
Bank of Ireland has the most comprehensive Business Start-Up package available to new businesses, featuring a business current account that has a range of banking services free of charge for two years, and a suite of internal and external offers specifically tailored for the new enterprise.

It provides over 100 loans daily to the SME sector and currently approve in excess of 87% of all small business lending applications, with half of all applications getting an immediate decision in the branch, and the other half within 24 hours. In addition, Bank of Ireland is the only financial institution that will lend up to €25,000 to these companies without security.

The service is delivered through a network of over 600 business bankers, including a Business Advisor in every one of our 274 branches nationwide.