Business

Bank of Ireland achieves five-star rating

Claire Derby, business advisor, Belfast city branch, Bank of Ireland UK and Bernard Rooney, NI consumer and small business at Bank of Ireland UK with the accolade boasting the five-star rating

BANK of Ireland UK has been awarded 5 Star Ratings for both its small business growth account and its agri-business current account by Moneyfacts, the UK's leading independent provider of personal financial information.

It made it the only local bank to be included in this year’s 5 Star Ratings following Moneyfacts annual assessment of the business current account market across the UK.

Bernard Rooney, Northern Ireland consumer and small business at Bank of Ireland UK said: "As Northern Ireland's enterprise bank we work hard to create the products and local services and advice that will support ambitious business owners.

"We know that growth businesses face challenges around competition, pricing, profitability and cash flow and we're particularly delighted that the business current accounts we launched early last year, with their discounted fees and other real benefits, have been recognised by independent experts for the added value they bring to our business customers who are working hard to seize on growth opportunities."

Moneyfacts editor Lee Tillcock added: “The day-to-day costs of having a business current account are an important concern for many business owners. In light of this, the accounts from Bank of Ireland UK have achieved the highest rating in the 2016 Business Current Account Star Ratings due to their cost-effectiveness. These competitive accounts can support small businesses in their early stages and can reduce their financial burdens while they continue to grow.”

Moneyfacts Star Ratings assess the technical merit of a range of financial products, paying close attention to the 'added quality' features.

The five-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.

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