Business Credit Card

Benefits that work for you

1. No transaction fees: There are no transaction fees when you use your credit card to pay for goods and services making it a more cost-effective alternative to writing cheques. Cross-border handling fees apply to non-Euro transactions.
2. Access cashflow: Enjoy up to 37 days’ interest-free credit on purchases and pay no transaction fees on Euro purchases.
3. Track and manage spending: Monitor your spending, set limits, and pay in full each month by direct debit or through your Business Online account.
4. Travel benefits: Enjoy global acceptance and exclusive perks like travel insurance.
5. MasterCard Priceless: Get access to exclusive experiences, offers and benefits in Ireland or when travelling abroad with MasterCard Priceless Cities. Protect your business: chargeback rights on purchases in the event of loss, non-receipt or in the event of fraud, and Liablity Waiver Insurance protecting your business from employee misuse.

• Additional Features

  • ​Exclusive offers: Get access to exclusive experiences, offers and benefits in Ireland or when travelling abroad with MasterCard Priceless Cities.
  • Worldwide acceptance: Remember your card is accepted worldwide in over 36 million locations so you can rely on it when you are abroad.
  • Contactless payments: Make purchases up to €50¹ by simply holding your credit card against the card reader – ideal for quick purchases when you’re on the move.
  • Flexible options: You can have an unlimited number of cards per account, set individual credit limits for each business credit card and choose from a range of monthly payment dates to suit your cash-flow.

  • Chargeback rights: You are protected when you use your credit card to make purchases in the event of loss or non-receipt of goods or services and in the event of fraud.
  • Card liability waiver insurance: Your business is protected from liability for card misuse by employees. Please see documents below:
    
    Business Card Liability Waiver InsuranceViewPrint

    Business Card Liability Waiver Insurance Claim FormViewPrint

    Business Credit Card Travel Insurance PolicyViewPrint

    Business Credit Card Insurance Product Information Document (IPID)ViewPrint

Bank of Ireland CardController

An online service enabling you to control employee spending by picking from a variety of controls and settings including setting maximum purchase or transaction amounts, getting 24/7 real-time alerts whenever cardholder spends goes above the limits set and getting alert on certain transaction such as ATM or contactless transactions.

To register for the service log on to cardcontrol-boi.fabrick.com

Frequently Asked Questions

• What are the benefits of a business credit card?

  Business credit cards provide a number of benefits to businesses:

  • Pay no transaction fees on Euro purchases, saving you on Bank fees and charges. Cross-border handling fees apply to non-Euro transactions.
  • Comprehensive travel insurance for the cardholder and up to 3 colleagues when the card is used to pay for at least 50% of the fare.
  • Up to 37 days interest free credit on purchases. Pay in full each month by direct debit and you can avoid paying interest charges.

• How can a business credit card help manage cash flow?

  A business credit card provides up to 37 days interest free credit on purchases.

  Pay in full each month by direct debit and you can avoid paying interest charges.

• What is the difference between a personal and a business credit card?

  A key difference is that a business credit card must be repaid by direct debt and in full each month. Unlike a personal credit card, there is no option to pay less than 100% of the outstanding balance each month.

  A business credit card is solely for business and business related expenses, under the terms and conditions of the card it cannot be used for personal purposes.

  A business credit card must also be connected to a business current account i.e. if you have only a personal current account you cannot apply for a business credit card.

• Will a business credit card affect my personal credit score?

  If you are a business owner with a business credit card this may impact your personal credit score if you do not keep payments up to date.

  The limit and performance of a business credit card is reported on the business, not the employee who has the card.

• How can I choose the right business credit card for my company?

  Bank of Ireland offers two business credit cards. Our gold business credit card provides travel benefits, which are listed below.

  Our gold business credit card may suit cardholders who travel frequently with Aer Lingus and would benefit from availing of the travel perks. If a cardholder is not frequently travelling, our standard business credit card may be more suitable.

• Is there a limit to how many employee cards I can get?

  There is no maximum limit on the number of cards you can have on an account, but there are charges for each card. Please see FAQ “What are the typical fees associated with business credit cards?” for more details.

  Please note, that your overall credit limit is subject to credit assessment and approval.

• Are there any tax benefits to using a business credit card?

  Business credit cards help you split your business related expenses from your personal expenses, if you are using you personal credit or debit card for your business. Splitting your personal and business expenses makes it easier when you are completing your self-employed tax return, as you can easily see the different expenses.

• What are the typical fees associated with business credit cards?

  Business credit cards have an annual card fee of €31.00 for standard and €120.00 for gold. Additionally each card is liable for Government Stamp Duty of €30.00 per year.

  Other charges depend on how you use the card (which are detailed above in fees and charges) and include:

  • Cash advance fee if you withdraw cash using your business credit card.
  • Cross border handling fee for non euro transactions.

• Can I set spending limits for employee cards?

  Each business credit card has a monthly card limit which you set.

• How do business credit card rewards programmes work?

  Currently we do not have any reward programmes.

  Our gold commercial credit card provides travel benefits including lounge access, priority check-in and security fast track when flying Aer Lingus.

• How do I qualify for a business credit card?

  To apply for a business credit card you must have a Bank of Ireland current account.

  Each new business credit card is subject to credit assessment. There should be sufficient turnover and repayment capacity for your business credit.

  Lending criteria and terms and conditions apply.

• How can I track expenses with a business credit card?

  Spend and expenses can be tracked on a business credit card using the individual cardholder statement and the summary statement, which is a summary of the total spend per card on the business credit card account (when there are 2 or more cards on the business credit card account).

  Each business credit card can also be setup on 365 online, our online banking platform. The cardholder can view their recent balance and transactions, and view and download their statement.

  All business credit cards can be added to Business On Line if you have a Business On Line profile.