Bank of Ireland Business
Full-service Irish business banking with lending, merchant services, and SEPA bulk payments
EUR pricing guaranteed
Irish Compliance Assessment
3/6Direct connection to Revenue Online Service (ROS) for tax submissions
Real-time payroll reporting to Revenue as required since 2019
Irish IBAN issuance. Supports SEPA Credit Transfer and SEPA Direct Debit. Business On Line (BOL) for bulk payments via pain.001/pain.008 files. Bank feeds to Xero, Sage, QuickBooks, and Surf Accounts.
SEPA XML: SEPA Credit Transfer, SEPA Direct Debit, Pain.001, Pain.008
None
Customer support available during Irish business hours
Overview
Bank of Ireland Business offers current accounts, lending, cards, and merchant services to Irish businesses ranging from sole traders to corporates. Regulated by the Central Bank of Ireland and covered by the Irish Deposit Guarantee Scheme (EUR 100,000 per eligible depositor), Bank of Ireland issues Irish IBANs, supports SEPA Credit Transfer and SEPA Direct Debit, provides Business On Line (BOL) for bulk payments, and offers bank feeds to Xero, Sage, QuickBooks, and Surf Accounts. Bank of Ireland is best suited to established Irish SMEs that need an in-country lender, physical branch access, and relationship-managed services, particularly in sectors like construction, agri-food, and hospitality where traditional lending and cash handling are important.
Vendors.ie Verdict
Bank of Ireland Business is a solid traditional choice, particularly for businesses in construction, agri-food, and hospitality that value sector-specialist relationship managers and physical branch access. The pricing and online experience are similar to AIB, and you get the same protections under the Irish Deposit Guarantee Scheme. If you already bank personally with Bank of Ireland or your accountant works closely with the business banking team, it is a natural choice. For FX-heavy or purely digital operations, pair it with Revolut or Wise.
Pros & Cons
Pros
- Nationwide branch network
- Irish Deposit Guarantee Scheme coverage
- Full lending, overdraft, and merchant services
- Bank feeds supported by all major Irish accounting platforms
- Sector specialists (agri, construction, hospitality)
Cons
- Per-transaction fees on each debit and lodgement
- Onboarding times of several weeks for new businesses
- Online banking UX feels dated vs fintechs
- Less competitive on FX than digital challengers
Best For
Company Size
Sectors
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Head-to-Head Comparisons
Quick Facts
- Starting price
- From €6/mo
- Free trial
- No
- GDPR residency
- EU
- Revenue integration
- No
- PAYE Modernisation
- No
- Irish support
- Yes
Alternatives
Verification Notes
Bank of Ireland is regulated by the Central Bank of Ireland and covered by the Irish Deposit Guarantee Scheme. Business current account maintenance and transaction fees apply per published tariff. SEPA Credit Transfer and SEPA Direct Debit supported. Bank feed compatibility confirmed with Xero, QuickBooks, Sage, and Surf Accounts. Not an accounting platform - no Revenue ROS integration or PAYE functionality at the bank level.
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