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Business Deposits
Any questions?
Naturally, you may have specific questions about our Business Deposit Accounts. We hope you'll find the answers here.
If you need more information or want to discuss anything in more detail, please call a member of our Business Deposit Team on 0845 045 09 00. Or you can email us at [email protected].
We'll be happy to help.
- How can I be sure the telephone banking system is secure?
- Do I need to switch my current account to Anglo Irish Bank if I want to open one of your Business Deposit Accounts?
- Does the interest rate change? How dies it affect my deposit?
- How is interest calculated and when is it credited to my account?
- How will my deposit be taxed?
- What if the balance of my account falls below £5,000?
- Do I need deposit or withdrawal slips to operate this account?
- Why do I need to provide identification documentation?
- Who can transact on the account?
- How can I change my Authorised Representative?
- How can I change any of the original details supplied on my application form?
- How can I change the details of the account that I use to make electronic transfers to and from my Business Deposit Account?
- I have more than �1m to invest, can you help me?
- Are there any other deposit accounts available?
- How can I contact you?
1. 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 phone us they will be asked to identify themselves using random characters from their security questions.
However, if we phone them we will never ask them for their security details. NEVER reveal this information to anyone who contacts you. Instead, please call our Business Deposit Team on 0845 045 0900.
2. Do I need to switch my current account to Anglo Irish Bank if I want to open one of your Business Deposit Accounts?
No, you can carry on banking as normal, while earning a higher rate of interest on your surplus funds that you deposit with us. To open one of our accounts, follow steps 1 - 4 under
- How to open a Quick Access Account
- How to open a 7 Day Notice Account
- How to open a 30 Day Notice Account
3. Does the interest rate change? How does it affect my savings?
The interest rate on these accounts is variable and may change in line with general market conditions.
We will tell you about any change to the interest rate within three business days, unless we are sending you an annual statement when this change will be reflected on your statement.
4. How is interest calculated and when is it credited to my account?
Interest is calculated on a daily basis on the cleared balance in your account and the interest is credited to the account on the anniversary of the account opening or the next business day in England and Wales.
5. How will my deposit be taxed?
Interest may be paid gross on Business Deposit Accounts held by us, depending on your business status. For all other accounts, interest will be paid on the account net of lower rate tax.
6. What if the balance of my account falls below £5,000?
If the balance in your account falls below �5,000, the account will convert to our Business Demand Deposit account. This account pays a lower rate of interest than our Quick Access Business Deposit Account and Our 7 Day and 30 Day Notice Business Deposit Accounts.
7. Do I need deposit or withdrawal slips to operate this account?
No, deposit or withdrawal slips are not required to operate your account.
To make a deposit to your account, simply reference your account number on your cheque when making deposits. Please use our Freepost address.
If the origin of any additional deposit is by a different method from that of your initial deposit, you will need to supply us with a recent original statement dated within the last three months from the account where these funds are held. (This applies if the funds are being transferred by BACS payment). Please follow the steps under "Operating your account".
To make a withdrawal, please call a member of our Business Deposit Team on 0845 045 0900. Withdrawals will be returned to you either by cheque or electronic funds transfer to the bank account from which your initial funds originated.
We will confirm all transactions made on your account by post.
8. Why do I need to provide identification documentation?
The UK has strict codes of banking conduct to help prevent fraud and money laundering. We need the documentation that we ask you to provide so that we can confirm you are who you say you are and to comply with the legal requirements.
9. Who can transact on the account?
Only one Authorised Representative of the Account Holder as detailed on your application form can operate the account, in accordance with the signing rules on the application form.
10. How can I change my Authorised Representative?
Once your account is operational you can change the Authorised Representative on the account. We will need this confirmed 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.
11. How can I change any of the original details supplied on my application form?
Simply inform us in writing of your new address or other details signed by two Authorised Representatives, unless there is only one Authorised Representative.
Please note that for a change of address we will confirm this information after receipt, by writing to you at both your old and new address, to ensure the security of your account.
12. How can I change the details of the account that I use to make electronic transfers to and from my Business Deposit 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, signed by two Authorised Representatives, unless there is only one Authorised Representative.
13. If I have more than �1m to invest, can you help me?
Yes, we offer a wide range of treasury products and services for customers that have larger amounts to invest. Call our Business Deposit Team on 0845 045 0900 and they can give you further information.
14. 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 55 22 22 today and they will be happy to give you more information on these accounts. You can also find full details on our website at http://www.angloirishbank.co.uk/personal/personal-savings.asp
Personal Savings Accounts are for personal funds only and must be in the sole name of the individual and not used for business purposes.
15. How can I contact you?
- By telephone, you can talk to a member of our Business Deposit Team on 8454 55 22 22 (8am - 8pm, Monday - Friday, excluding bank holidays in England and Wales)
- By email, you can email us at: [email protected]
-
By post, you can write to us at:
Anglo Irish Bank,
FREEPOST LON21430,
London,
EC2B 2QB.
(Postage is not required).
If you have any other queries please contact our Business Deposit Team on 08450 45 0900 (8am - 8pm, Monday to Friday, excluding bank holidays in England and Wales) or email us at [email protected]
We'll deal promptly with any of your service or transactional enquiries.
