What it costs?
There are three elements of cost usually involved:
- A Discount Charge (similar to an interest charge) is levied on the funds used by your company. The rate is generally expressed as a percentage margin over Bank of Ireland’s Prime Rate with the margin varying relative to the size of the facility and the degree of risk.
- A Service / Management Fee is an annual flat fee and is charged monthly to your account
- Current account and transfer fees apply.