The bank has opened a new account for the homepoint Financial Services group, which has just signed up to a joint venture with Dublin-based homepoint.
The new account will allow the home point group to withdraw up to €1 million annually from the account, the group said in a statement.
The group said that, while the company is a wholly owned subsidiary of Dublin-listed homepoint, the homePoint Financial Services company is owned by the parent company, the Irish bank National Bank.
The Irish bank said that the new account is being opened to help the group reduce its reliance on third-party payment processors.
Homepoint is Ireland’s largest payment processor.