Cost Savings
Using Business On Line to make payments instead of sending cheques can represent phenomenal savings of approximately 80%.
Here's how:
| Typical cheque cost | Typical BOL cost | |
|---|---|---|
| Processing | 0.37c | 0.24c |
| Stamp Duty | 0.50c | |
| Postage | 0.55c | |
| Total | €1.42 | 0.24c |
| Saving | €1.18 = 83% |
So if, for example, your business writes 100 cheques per month, you could save over €1,000 in your first year of using Business On Line.
For further queries please email us at electronic.banking@boi.com or call us on 1850 264 265.