Centralised Account Opening Q&As

Sole Trader Central Account Opening Q&As

• Which account should I pick?
  Your DocuSign will contain a choice of all business current accounts you can open which we believe suit your needs and therefore you can apply for (based on the information you have provided us). You’ll see the ‘Key Features, Benefits & Restrictions’ for all accounts at the start of the application form to allow you to choose which account you would like to open.

   

  The DocuSign document will contain further information for each of these accounts and you can also refer to our website if you need more information to make your decision.
• What is a Trading Name?
  A trading name is a name you can use for your business that is different to your own name.  A trading name must be registered with the Companies Registration Office (CRO) before it can be used by your business. Not every sole trader or company has a trading name, so if you do not have one you can leave this box blank.

   

  If you do have a trading name you can attach & submit your certificate of trading name with your application within the DocuSign system.
• What is the purpose of the account?
  What will the account be used for? Our business current accounts are ideal for business trading. Other potential uses could be Investments.
• What is the Source of Income (the source of the money you are putting in the account)?
  Where will the money come from? Some examples are trading income, rental or investment income or client funds.
• What is estimated annual turnover of the account?
  How much money will be going through the account over the next year? If you are unsure of the exact amount you can make a best estimate, or base it on the turnover of the previous year if you expect it to be similar (if applicable).
• What is the Country where Established?
  Where is your business set up? This is the country where your business is located.
• What is Country where Operating/Trading?
  What countries are you actively operating from or trading with. You may trade with & operate from a number of countries so multiple options are available here.
• Products and services
  Statements: You can choose how often the statements are sent and the date of the first statement. If it is not possible for operational reasons to issue you with a statement on this date, we will issue you with a statement on this date in the next month/quarter/year.
  

   

  You can also get details of your transactions through our online channels and you can get bank statements through AIB Internet Banking. You can also contact us to ask for a statement (we may charge a fee for this).

   

  Chequebook: If you require a chequebook you can select the size of the chequebook you need. You may not require a chequebook.  As a reminder, if you wish you can use AIB Internet Banking and iBusiness Banking to make payments. 

   

  Lodgement requirements: You can request a lodgement book for making paper lodgements over the counter, or you can request lodgement cards for making lodgements at a self-service machine.

   

  This is ideal if you have employees required to make lodgements on your behalf.

   

  You will also be able to lodge using your Business Debit Card.
• I can’t submit my form
  If you are having difficulty submitting your form it may be because some information is missing. Please check the form for sections that are not filled.