Brexit – Our Customer Commitment:
At Bank of Ireland, when it comes to Brexit our primary focus is on our customers and how we can help them navigate through the changes brought by Brexit, and plan for the future. We are pleased that a negotiated trade deal has been achieved between the UK and the EU. Our customer commitment remains firm, and we stand ready to support our customers as Brexit continues to unfold.
However, we appreciate that even with a trade deal, Brexit is bringing substantial disruption to some of our customers. We have a number of financial supports in place to help customers with their specific requirements, whether it’s protecting their business from risk or investing for growth and expansion.
Despite the agreement, businesses may still find it helpful to obtain a Comprehensive Guarantee if they are using landbridge or wish to apply for exemptions to VAT or tarriffs in the UK or Ireland, for example, temporary processing relief.
Options such as invoice discounting may help with stresses on working capital. There are also a number of state backed loan schemes such as the Brexit Loan Scheme and the Covid Credit Guarantee Scheme that may be appropriate for certain business adjustments. A potentially significant impact of Brexit is a possible increase in exchange rate volatility. We have a number of foreign exchange options. Bank of Ireland has developed a Currency Risk Guide which provides customers with more information.
There is no change to our products and services in Ireland arising from Brexit. Customers don’t need to take any specific action. However, please talk to us if you have any concerns.
We would like to thank you for your valued business and, as always, we’re here to help.
29th January 2021 – Sterling trading at highest level since April 2018. Read more
12th January 2021 – Roisin O’ Shea, Head of Food and Drink at Bank of Ireland, looks at opportunities in the sector post-Brexit. Read more
4th January 2021 – Brexit Deal Update & Sterling Performance Read more
17th December 2020 – Read the latest view of the Brexit impact on Sterling Read more
11th December 2020 – Lee Evans from Bank of Ireland discusses the likelihood of a deal on Brexit on Morning Ireland Read more
13th November 2020 – Preparing your business for the practicalities of Brexit Read more
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