Rabobank has a top rating for creditworthiness, awarded by Moody's, Standard & Poor's, Fitch and Dominion Bond Rating Service and consistently maintains these ratings.

RaboDirect is the brand name of the internet bank that is part of Rabobank's Dublin branch. Accordingly RaboDirect has full triple-A status.

Rabobank is a member of (a) the Dutch Deposit Guarantee System and (b) the Dutch Investor Compensation Scheme, implemented by the Financial Supervision Act 2007 and related decrees. Broadly speaking, the Dutch Deposit Guarantee System deals with money - deposits in current and savings accounts - while the Dutch Investor Compensation Scheme is about securities held on your behalf by Rabobank. The Deposit Guarantee System and the Investor Protection Scheme will only become applicable if Rabobank enters into bankruptcy proceedings.

(a) Dutch Deposit Guarantee System

The Dutch Deposit Guarantee System guarantees the interests of account holders, and applies to deposits in current and savings accounts.  Under the Deposit Guarantee Scheme, if Rabobank is unable to meet its obligations to repay a customer's balance, the customer is guaranteed to be repaid 100% of the first €100,000 of his balance. In the case of a joint account, the maximum amount of €100,000 set out above applies to each joint account holder and so a joint deposit of €200,000 is fully covered if the depositors have no other accounts.

You can read more about the Dutch Deposit Guarantee System on the De Nederlanche Bank website.

(b) Dutch Investor Compensation Scheme

As a supervised Dutch bank, Rabobank is required to safeguard your securities and other financial instruments. This means that your securities are separated from the assets of the bank. Even if Rabobank goes out of business, you remain fully entitled to your assets. Practically speaking, you would have to instruct Rabobank to transfer your assets to another broker or bank. In the unlikely event that your assets are not identifiable anymore and have become part of the bankruptcy estate, the Dutch Investor Compensation Scheme may become applicable. If Rabobank is unable to meet its obligations to investor customers, the investor compensation scheme guarantees an amount up to €20,000. Note that loss caused as a consequence of a fall in the value of investments is not itself eligible for compensation.  

(c) Procedure

If Rabobank goes out of business, the Dutch Central Bank ('DCB') will start the compensation process. Certain information is available on the website of the DCB (www.dnb.nl) in relation to the Deposit Guarantee Scheme and the Investor Compensation Scheme. Parts of this site are also accessible in the English language.

(d) Which RaboDirect customers may benefit from the Deposit Guarantee Scheme and the Investor Compensation Scheme?

Subject to very limited exceptions, in the unlikely event that Rabobank enters bankruptcy proceedings, the following types of RaboDirect customers may benefit from the Deposit Guarantee Scheme and the Investor Compensation Scheme:

(i) personal customers;
(ii) sole traders;
(iii) partnerships;
(iv) companies who satisfy at least two of the following conditions:

(A) a balance sheet total that does not exceed €4,400,000 per year;
(B) a net turnover not exceeding €8,800,000 per year; and
(C) a workforce not exceeding 50 people in the financial year.

A Sole Trader, Partnership, Private/Public Limited Company or Solicitor can apply for Business Savings Account at RaboDirect. We don't currently offer Business Savings Accounts for Public Ltd Companies, Credit Unions, Charities, Clubs & Societies or Trusts and Associations.

We offer a variable rate of 1.90%* (AER .Variable) on business savings.  We also offer a Business Term Deposit Account with competitive rates and terms from 1 month to 10 years.

* May be subject to DIRT.
Interest calculated on a monthly basis at a rate of 1.88%
Effective from the 18th April 2011

No. No limits. All amounts whether big or small get 1.90%* (AER.Variable) interest.

* May be subject to DIRT.
Interest calculated on a monthly basis at a rate of 1.88%.
Effective from the 18th April 2011.

Nope. There are no charges for setting up a RaboDirect Business Savings Account.

Because you manage your account online at RaboDirect, you can access your money whenever you need to online. It's so easy.

Yes you can. Once your Business Savings Account has been opened, you can open a Business Term Deposit Account by simply clicking on the Term Deposit link within your secure account.

No, sorry. You can't open an Investment Account for your business. Open one for yourself if you like?

No. We don't accept cheques for deposit into your RaboDirect Business Savings Account. And similar to our personal savings product offering, we don't offer a cheque book with this account either.

When setting up a RaboDirect Business Savings Account you must nominate an existing external account. You will use this to transfer money in and out of your Business Savings Account. The only business that doesn't need to set up a nominated account is a Solicitor Client Account (Sole Practitioner and Partnership). 

One Digipass is issued for each Business Savings Account opened. The Authorised User of the account is the one who has control of the Digipass e.g. in the case of a Sole Trader it's you the sole trader. In the case of a Partnership or Solicitor Client Account - Partnership it is Partner 1, in the case of a Private/Public Limited Company it is Director 1. So basically you decide among yourselves who the Authorised User is. No fighting now! 

Yes you can deposit regularly to your Business Savings Account by setting up a Rabo Money Mover. The external account number used must be an account in the name of the business i.e. Sole Trader, Partnership, Private/Public Limited Company or Solicitor

No. You will receive a new Digipass to manage your Business Savings Account online.  In the case of a Partnership, Private/Public Limited Company etc., the Authorised User within your business will receive a new Digipass and will be the only one with access to the account.

To withdraw funds from your RaboDirect Business Savings Account you will first need to log in to your account using your Digipass

Once logged in click on 'Transfer Money' and then 'Transfer Money Out'.

In the 'Trasfer money out' screen you must make the following selections. In the 'From account' drop down menu your RaboDirect Business Savings Account is automatically selected. In the 'To account' drop down menu select your Nominated Account.

For Solicitor Client Accounts, if the external account is not already listed on 'Choose a payee' please click on 'Add a new payee". On the Add a new payee screen, enter the Sort Code, Account number and Name of the Account Holder in the boxes provided.

The Description box is optional and acts as a reference for the payee, which is you. Once the account number is confirmed you will be taken back to the 'Transfer money out' screen.

On the Transfer Money Out screen select when you'd like the money to transfer i.e. 'As soon as possible' or 'Pick a date'.

Enter the 'Amount' you wish to transfer and input a 'Description/Reference' (this is an optional field it lets the receiving bank know where the money is coming from)

Click on 'Next'. On the Confirmation Screen you will see a description of the transfer details so now you need to sign the action off with your Digipass just follow the instructions on the screen.

Please note for security reasons if you are transferring more than €10,000, an extra step for the Digipass has been added.

Your transfer is only successful when you see the following message:
Your transfer has been completed
Transfer reference: AXXXXXXXXXXXX
  
Payments processed on business days before 3pm are sent on the payment date as instructed by you and will arrive with the beneficiary bank by the next business day. RaboDirect does not charge you for making payments on your account.

All Business

There are several ways you can lodge money to your RaboDirect Business Savings Account:

1. If you already have internet or telephone banking with your main bank, you could simply give them your Sort Code (990260) and your RaboDirect Savings Account Number and do a transfer with them.

2. Alternatively, you could set up a Rabo Money Mover facility by logging in to your RaboDirect Account, clicking on Transfer Money and then Transfer Money In. Simply follow the instructions on screen.

3. You could also do a same day money transfer. To do this, please ring RaboDirect 1850-88-22-44.

Payments are only processed on business days before 3pm. Funds are sent on the payment date as instructed by you and will arrive with the beneficiary bank by the next business day. RaboDirect does not charge you for making payments on your account.

The Authorised User of the RaboDirect Business Savings Account is the one person within the business who has control of the Digipass e.g. in the case of a Sole Trader it's you the Sole Trader. In the case of a Partnership or Solicitor Client Account Partnership, it is Partner 1, in the case of a Private/Public Limited Company it is Director 1.

Existing Business Savings Account Customer

If you're an existing RaboDirect Business Banking customer and already have a Business Savings Account, simply click on the Term Deposits option from within your secure account.

New to RaboDirect Business Banking?

If you're not yet a RaboDirect Business Banking Account customer, open your online account today. Once your Business Savings Account is open, you can access the Business Term Deposit option from within your secure account with RaboDirect.

• Open your Business Term Deposit Account today

Term Deposits with a term of 1 to 6 months
Interest is paid on maturity of a term where the Term Deposit is less than 1 year, minus the Deposit Interest Retention Tax (DIRT), if applicable. However if you select to re-invest your initial lump sum and your interest earned on maturity, your monies will be lodged back into a new Term Deposit account at the prevailing rate. Rates shown reflect interest as if paid annually.

Term Deposits with a term of 1 to 10 years
Interest earned minus the Deposit Interest Retention Tax (DIRT), if applicable, is paid based on the 'Interest frequency' you have selected i.e. Monthly, Semi Annually, Quarterly or Annually, into your selected account i.e. RaboDirect Savings Account. Interest earned does not compound annually. Rates shown reflect that.

Note: For Term Deposits opened before 05th November 2009, interest for 1 year and over will be applied on the anniversary of your Term Deposit. For Term Deposits opened before December 2008, all interest is applied on maturity of the Term Deposit e.g. A 5 year term Deposit which started in June 2007 will not receive interest until June 2012.

For terms under 1 year you have three options to choose from under the section 'What would you like to do with your Term Deposit when it matures?

1. Re-invest your principle only - and the interest earned minus the Deposit Interest Retention Tax (DIRT) (if applicable) will be paid into your selected account i.e. RaboDirect Savings Account. 

2. Re-invest your principle and interest - your interest earned minus the Deposit Interest Retention Tax (DIRT) (if applicable) will be reinvested into a new Term Deposit along with your initial lump sum. 

3. Or not to automatically re-invest your Term Deposit.  If this option is selected the initial lump sum plus the interest earned minus the Deposit Interest Retention Tax (DIRT) (if applicable) will be paid into your selected account i.e. RaboDirect Savings Account.

For terms of 1 year and over the initial lump sum will be paid into your selected account at maturity i.e. RaboDirect Savings Account. Note: Your interest earned minus the Deposit Interest Retention Tax (DIRT) is paid based on the 'Interest frequency' you have selected i.e. Monthly, Semi Annually, Quarterly or Annually, into your selected account i.e. RaboDirect Savings Account. Interest earned does not compound annually. Rates shown reflect that.

On the agreed maturity date you will receive the interest, minus Deposit Interest Retention Tax (DIRT) (if applicable). Interest earned does not compound annually. Rates shown reflect that. We automatically transfer your savings and the interest to your RaboDirect Business Savings Account.

Note: Withdrawing early from a Business Term Deposit will incur a charge, for more information please contact our Customer Contact Centre.

You can always extend your Business Term Deposit Account and your savings will continue to grow. The same term length and the new fixed rate as at the date you reinvest will apply every time you extend your Business Term Deposit.