Switch Your Business Current Account

How to switch

• Step 1 - Open your new current AIB account

  You will need the following documentation:

  Proof of identity and address

  This can be a passport and residential address (such as a utility bill dated within the past six months) for:

  • One person authorised to sign transactions on the business accounts
  • One director of the business
  • All beneficial owners of the business

  Company details

  • Certificate of Registration of the Business Name or Certificate of Incorporation
  • Details of beneficial owners, directors and company secretary

  Business records

  We may also need:

  • Copies of bank statements from your old bank
  • Most recent set of audited business accounts
  • A copy of your business plan
     

  Click here to begin.

• Step 2 - Prepare to switch

  Choose a date to switch

  It's a good idea to choose a day when there is low activity on the account. This will minimise any disruption to your business.

  Complete the switching form

  The switching form authorises AIB and your old bank to switch your accounts.

  Check or update the following

  • You have identified one person who is authorised to sign transactions on the business current account
  • Your payroll system if needed
    
  • Check there is enough money in your new and old accounts to cover any transactions that happen during the switch
  • Update the bank details on your business stationery, invoices, etc.
• Step 3 – Make the switch

  We will contact your old bank to close your business current accounts. Your old bank must notify direct debit originators operating under SEPA of your new account details. We will also set up your active standing orders as soon as we receive the list from your old bank.

  It's up to you and your direct debit originators to make sure all active direct debits have been transferred to your new AIB account.

   

  You are switched!

  Your new AIB Business Current Account is up and running, and your account with your old bank is closed.