Frequently Asked Questions
- How do I make a deposit?
- How is interest calculated and when is it credited to my Account?
- Does the interest rate change?
- How will my deposit be taxed?
- Who can transact on the Account?
- How can I change the business address or other details on the account?
- How can I change the Authorised Representatives on the account?
- What is my nominated bank account?
- How can I change my nominated bank account?
- How can I be sure the telephone banking system is secure?
- Are there any other deposit accounts available?
- What is Anglo Connect?
1. How do I make a deposit?
When opening your Account you need to make an initial deposit by cheque from your nominated bank account. Further lodgements to your Account can be made by cheque or electronically from your nominated bank account.
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2. How is interest calculated and when is it credited to my Account?
Interest is calculated each day based on the total cleared balance in the Account at the end of the day using the then prevailing interest rate. Interest is paid and added to the Account on the anniversary of the Account opening or if this is not a Business Day, on the next Business Day.
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3.Does the interest rate change?
The interest rate is variable and may change in line with market conditions. We will advise you of any rate increases within 3 working days on our website and in writing as soon as reasonably practical. If we decrease the rate we will notify you personally 2 months in advance, please refer to your Terms and Conditions for details.
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4. How will my deposit be taxed?
Interest may be paid gross on Business Deposit Accounts held by us, depending on your business structure.
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5. Who can transact on the Account?
At least 2 Authorised Representatives are required to transact on the account, unless there is only one Authorised Representative. However, for Accounts with more than one Authorised Representative, by signing the Declaration on the Application Form withdrawals may be made on the authorisation of one Authorised Representative only.
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6. How can I change the business address or other details on the account?
Once your account is operational you can change the business address or other details on the account by sending confirmation in writing signed by two existing Authorised Representatives unless there is only one on the account. We will supply you with a form in order to complete this request.
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7. How can I change the Authorised Representatives on the account?
Once your account is operational you can change the Authorised Representative on the account by sending confirmation in writing signed by two existing Authorised Representatives unless there is only one on the account. We also require any new Authorised Representatives to supply the details as given by the existing Authorised Representatives in the Application Form. We can supply you with a standard form for this purpose on request.
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8.What is my nominated bank account?
Your nominated bank account is the account you used to make your initial deposit with us by cheque. This is the account that all withdrawals will be paid to and from which any further lodgements to your Anglo Irish Business Deposit Account should be made.
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9.How can I change my nominated bank account?
Simply inform us in writing of your new Account details and supply us with an original statement from this Account, dated within the last three months. Your instruction must be signed by two Authorised Representatives, unless there is only one Authorised Representative.
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10. How can I be sure the telephone banking system is secure?
Our telephone banking service is safe and secure, but you can take steps to ensure that no one gains access to your financial information. If your Authorised Representatives talk to us they will be asked to identify themselves using random characters from their memorable password and other questions based on the information we hold about them or the Account.
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11. Are there any other deposit accounts available?
Yes, Anglo Irish Bank also offers Personal Savings Accounts with highly competitive interest rates. Call our Personal Savings team on 0845 455 2222* today and they will be happy to give you more information on these accounts. You can also find full details on our website. Personal Savings Accounts are for personal funds only and must be in the sole name of the
individual and not used for business purposes.
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12. What is Anglo Connect?
AngloConnect is Anglo Irish Bank's secure online account access service. Easy to use and accessible from your PC, it provides realtime account information. You can print out statements and check your transactions and balances - and AngloConnect also provides a Download feature, which allows you to download account details into spreadsheet format.
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