Ireland

Ireland

Americans think twice: how safe is Ireland really?

a multicolored bowl with water ripples into it

In July this year three men in Dublin made an unprovoked attack on an American tourist that shocked the world. Fifty-year-old New York resident Stephen Termini was leaving his guesthouse in Dublin when he was thrown to the ground, kicked, and beaten within an inch of his life. The assault, which left Termini in a coma, immediately spurred the United States Embassy to urge Americans vacationing in Ireland to “keep a low profile” and “avoid walking alone” at night.[1] The warning came just a few months after US president Joe Biden (who is of predominantly Irish-American heritage) wrapped a four-day trip to Ireland. At the time, Biden spoke of Ireland’s legacy of hope and hard work while boasting that the nation was “part of [his] soul”.[2]

In fact, Americans play an integral role in Ireland’s economy. In 2019 alone, American tourists spent a whopping $1.7 billion in the country, leading Ireland’s official office of tourism to describe the US as Ireland’s “most important source market for overseas revenue” and its “second-largest source market, after Great Britain, in terms of visitor numbers”. Termini’s assault and other similar incidents are hardly isolated events and should make Americans think twice about holidaying in Ireland. Just this August, for instance, yet another tourist in Dublin — a 65-year-old woman — was dragged along the ground in what police have called a “premeditated” and “predatory” attempted robbery.[3]

Violent crime is undeniably on the rise; in 2021 and 2022, assaults in Ireland rose by 17 per cent while theft increased by 41 per cent. Murders on the other hand, jumped 30 per cent.[4] Even politicians appear to agree on the disturbing reality of Ireland’s crime rates. “It’s catastrophic on our streets,” Mannix Flynn, a member of Dublin’s City Council, recently told the Sunday World. “There are no consequences. You can do what you like on the streets of Dublin and kick the head off who you like. Violence is rife, attacks are the norm and what’s appalling on top of that is there is no response.”[5] Similarly, Leo Varadkar, Ireland’s Taoiseach (prime minister) has talked of a post-pandemic “deterioration” of Ireland’s cities. “We have to fix [it] because it’s a basic entitlement that people should feel safe walking at night in our towns and cities.”

Another case which made headlines of late involved several men who reportedly threatened Dublin-based farmer and American citizen Diarmuid Rossa Phelan. Phelan claimed that he made over multiple complaints to the police about criminals who were intentionally trespassing on and vandalising his property. He contends that these complaints were all ignored, leaving Phelan without any support from law enforcement. Tragically, in February 2022 — after he was subjected to a “terrifying” campaign of intimidation — he shot and killed a trespasser in self-defence.[6] Phelan testified that the trespasser was part of a group of men that had chased him, ignoring his shouts to stop.

The Phelan case is strikingly similar to that of County Mayo farmer Padraig Nally. In October 2004, Nally killed a man in self-defence following a series of break-ins and other violent encounters on his property. Nally had repeatedly tried to get the police involved but their negligence led him to take the law into his own hands. Based on Phelan’s treatment by some in the Irish media however, there is a risk that this act of self-defense will not be viewed the same way by the courts. There is a risk that US citizens visiting or living in Ireland will be rendered unable to defend themselves just as violence reaches new heights.

James Joyce writes that “Ireland is the old sow that eats her farrow”, and crime stats support this point, but we don’t want this risk to extend to visitors. Ultimately, if Ireland wants to continue attracting American tourists, it will have to deal with violent crime head-on. During his visit to Ireland earlier this year, Biden said that he had never felt “more optimistic” about Ireland’s future. Yet, it’s clear that this future will require legal reforms that keep everyone in Ireland safe and allow them to protect themselves. American lives and Ireland’s public image are at stake; the problem is too grave to be ignored.

[1] https://www.theguardian.com/world/2023/jul/26/us-embassy-in-dublin-warns-visitors-to-ireland-about-personal-security

[2] https://www.bbc.com/news/world-europe-65270569

[3] https://www.independent.ie/irish-news/courts/tourist-65-dragged-along-ground-down-dublin-laneway-in-predatory-robbery-court-hears/a1259752880.html

[4] https://www.irishmirror.ie/news/irish-news/varadkar-deterioration-crime-since-pandemic-30560365

[5] https://www.sundayworld.com/crime/irish-crime/call-for-action-after-latest-dublin-attack-violence-is-rife-and-attacks-are-the-norm/a515768384.html

[6] https://www.thesun.ie/news/8611698/murder-accused-diarmuid-rossa-phelan-lawyer-court-appeal/

What’s Best for Your Startup? Accountant Online Explains Digital Vs Traditional Banks in Ireland

Every business needs a bank account and there are an abundance of options available in Ireland.

However, the landscape is evolving with the introduction of digital banks like Revolut and N26 into the market. What is the best bank account for your business?

“Over the past few months we’re seeing an increase in clients who are moving away from  traditional banks like AIB and BOI for business banking, instead about 25% of our new business clients are choosing to deal with such new digital banks,like Revolut, especially since the introduction of Revolut’s Irish IBAN.” – Christina McGreevy, Client Services Manager, Accountant Online.
“Our clients are referencing the ease of use, integration with pre-existing software and the minimal, if any, fees these digital banks offer when compared to the traditional banks operating in the Irish market. ”
The company formation services specialists at Accountant Online have compiled some information about how to choose the best bank account for your start-up and explain the differences between Digital and Traditional Banks ;
“Before choosing a bank to deal with you’ve got to ask the following questions ;
  • How much are the fees – 
  • Do they offer direct debit mandates – 
  • Is there a long application process? 
  • Are there any incentives/supports for startups? 
  • Are there any restrictions or limits on the account? 
  • Is there a banking app? 
Fees are hugely important, if you’re a new business just finding your feet you will ideally want to minimise expenses – If you’re paying large fees on every transaction you make it can really effect your bottom line.”
Bank Accounts Explained ; Digital V Traditional
There is most definitely an ongoing battle between digital and traditional business banks in Ireland, the team at Accountant Online have focused on two of the major players, Revolut (Digital) andAIB (Traditional).
DIGITAL – Revolut Business Account
Revolut is hugely popular in Ireland and now offer Irish IBANs, making it an attractive option for businesses across the country. This is a fully digital account and is incredibly useful for businesses who may be making and receiving payments in different currencies.

Key Points –
The Fees – Revolut offer a few variants of their business accounts, the free account incurs no feesbut limits you to only 5 free local transfers per month. Their ‘Business Grow’ tier is €25 p/m which allows unlimited team members, 100 free local transfers and allows you to exchange up to €10’000 p/m into more than 25 currencies at the real rate.There are various tiers on offer from Revolut that can scale up or down depending on your needs.

Prepaid Business Cards – Employees can be given physical or virtual prepaid business cards that are directly linked to your companies main account, these can then be tracked, limited and have expenses approved all in real time.

Multi Currency Accounts – Revolut allows you to deal with up to24 different currencies with no added fees.

Revolut Connect – Transactions can besynced in real time to accounting platforms like FreeAgent and Xero, cutting time spent on admin.

Send Invoices – Invoices can be created and sent from with Revolut’s mobile or web apps.

Open API – Revolut utilises an open API, which basically allows you to merge your Revolut business account with your pre-existing software and process, this can then allow you toautomate your payment processes.

Discounts, Perks & Rewards – Revolut has a number of ‘Business Partners’ like Google Adwords and Apple that offer various discounts for business accounts.

Revolut Pro – Special mention to Revolut Pro, it’s the ideal option for freelancers, the self employed and those working as part of the gig economy. This package offers 1% cashback, a dedicated IBAN, multi-currency payment acceptance, invoice templates and payment links. This is coupled with no monthly fees and no balance/deposit requirements.

How do I Open an Account?
“Opening an account with Revolut is simple as you can do the entire process online and accounts are usually approved within a few hours. You just need to provide them with a brief synopsis of what your business does and a photo ID. If you’re opening a corporate account you’ll have to supply Revolut with your incorporation number and company name.”
“Revolut’s overall offering is quite strong with an incredibly enticing pricing structure. It’s important to note they also offer a Subscription Management Facility which allows you to organise monthly payments from clients and other subscribers.

TRADITIONAL – AIB Startup Package
One of the most popular traditional banking options, the AIB Startup Account is available to any businesses that have been in operation for less than 3 years.

No Transaction or Maintenance Fees  – Two years with no transaction or account maintenance fees. However, this excludes cash handling fees. Cash handling fees up to a maximum discount of €100 per fee quarter.

Debit Cards – AIB allows you to withdraw up to €600 a day from an ATM with their business debit cards,the money leaves your account in real time also. You’re limited to 10 cards per company.

Business Support for Women Entrepreneurs – AIB run an excellent business masterclass for female entrepreneurs, ideally suited to business owners who have been active for 18 months or longer.

AIB’s Merchant Services – Access is granted to AIB’s Merchant Services for payments in store, online or even over the phone so you can find a payment solution suited to your business.

Online Services for Small Businesses –
 AIB have an online service specifically tailored to small businesses, there are also options for medium to large sized businesses.

Brexit Support – AIB are also offering Brexit support to all of their clients, includes support calls with specialist Brexit advisors.

How do I Open an Account?
“When it comes to opening an account with AIB, it’s a bit more involved – The director of the company and one other person who is authorised to sign transactions on company accounts must meet with the bank in a physical branch. Then, you are required to print and sign a document listing the terms and conditions of the agreed package, two company directors or one director and a company secretary are required to sign these forms.”

Digital V Traditional – What’s Best? 

“As you can see, the traditional banks in Ireland are lagging behind somewhat when it comes to convenience. Setting up a bank account with AIB is a very involved process, whereas you can get up and running with Revolut from the comfort of your own office.
The ability to easily create subscription payments is another massive advantage digital banks have over the traditional players – Revolut allows you to setup recurring monthly payments with little fuss, whereas organising a direct debit with AIB can be fairly restrictive.
More and more of our clients are moving away from traditional banking in favour of these digital banks, purely because of the ease involved.”