Farmer Overdraft Business Account
Farmers and Agribusinesses
Interest-bearing account (for amounts of €30,000 and above)
- The account is a combination of deposit and lending.
- An overdraft may be approved by assigning the farming subsidies to the Bank as collateral, thus improving the liquidity of the beneficiary farmer/agribusiness.
- The beneficiary is not charged with interest, unless the overdraft limit is used.
- If the overdraft is used, the beneficiary is charged with interest for the amount used ONLY.
- Possibility of Checkbook issuance .
- In case the account is held by a sole proprietorship or by individual farmers, the account may be linked to Pancreta Debit Card.
- It may operate as a check servicing account.
- A standing order for payment of the beneficiary’s debts may be set up.
- It can also be used via Internet Banking for transactions (Transfers – Payments – Remittances etc.).