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Banking services in Ireland
Banking sector in the Northern Ireland is modern, stable and has a long-term history. This country has branches of many largest international banks that operate in the Northern Ireland for decades. The legislation of this country enables stability and transparency for its clients. Top banks in Ireland offer loans, mortgages, investment options, corporate services, financial planning, wealth management and other banking products. There are one of the oldest banks in the Northern Ireland which makes this country a well-known destination for high-net worth individuals and global corporations.
The law of this country requires to preventing anti-money laundering and other illegal activities that result in rather detailed and complicated AML/KYC checks. Personal presence is required for the account opening procedure. However, most of the banks accept applicant’s documents online for preliminary review.
Clients of the Northern Ireland banks benefit from excellent banking and customer services, extensive banking products and attractive returns on their investment. Northern Ireland banks mostly welcome local clients while overseas client shall provide supporting documentation to evidence economic tights with the Northern Ireland.
Many Northern Ireland banks support businesses through special programs that are designed for start-ups, small and medium-size companies. Local banks are dedicated to partner with businesses in many technological and innovative industries that makes a positive impact on its services.
What type of accounts is it possible to open in Northern Ireland?
Banks in the Northern Ireland offer all types of accounts as in other countries. Companies may open corporate accounts with extensive range of services, including internet banking, international transactions, currency exchange, loans, cards. Individuals open private accounts and get access to such banking products as mortgages, credit cards, savings, asset management. Banks in the Northern Ireland support most of world currencies and provide convenient tools for managing accounts online.
What are the requirements for opening a bank account in Northern Ireland?
Personal meeting with a bank officer is always required if you are an oversea client. Before you visit a bank, you may send your documents online for preliminary verification. Usually banks request the following documents:
- Passport or ID;
- Proof of residence, including utility bill, bank statement, driver’s license;
- Corporate documents, including articles of association;
- Certificate of good standing and other documents requested by a bank.
All documents should be in English or accompanied by notarized translation into English.
An applicant shall also fill in questionnaire about its business, customers, annual turnover. Northern Ireland banks are perfect at customer services as they are ready to provide with the most suitable banking products for individual or business needs.
What are the major banks in Northern Ireland?
There are several international banks in Northern Ireland that have a major presence in the country:
It is one of the largest banks offering a full range of banking products, including escrow services, liquidity management, corporate accounts, payments and collections, corporate lending, asset finance, debt capital markets, foreign exchange, trade finance. The banking services are easily accessed through online and electronic channels.
- Danske Bank
Danske Bank is one of the leading retail bank in Northern Ireland with over 40 branches. Its products include mortgages, loans, savings, credit cards, insurance. This bank is one the four commercial banks in Northern Ireland that is allowed to issue their own banknotes.
- Ulster Bank
Ulster Bank is a well-known bank in Northern Ireland favoured for its modern and convenient digital banking services.
Other major bank in Northern Ireland include Alliance and Leicester, HSBC, Bank of Ireland, First Trust Bank, Halifax, Abbey, etc.
How can I close an account in Northern Ireland?
If you want to close your account, it can be easily done online upon termination notice. You need to make sure that you paid all outstanding amounts to your bank and thereafter transfer your funds to your other bank. Finally, your account is closed.