AIB

AIB is the bank most people in Northern Ireland know as AIB (NI), the brand on its branches across the region. Its core personal banking offer is the Classic Current Account, an everyday account for managing your money, alongside savings accounts for children and students, cards, foreign exchange and mortgages¹. You can bank with it through its branches, by phone, online and through its mobile app, and switching to it is done through the free Current Account Switch Service¹.

The brand also has a presence in Great Britain, where the same firm trades as Allied Irish Bank (GB) and Allied Irish Bank (GB) Savings Direct. That matters for one practical reason: because the brands share one banking licence, money held across them counts together towards one Financial Services Compensation Scheme limit, covered later on this page². Money held with the bank is protected by the FSCS up to £120,000 per person, the same limit that applies across UK banks³.

What AIB offers in Northern Ireland

The heart of AIB (NI)'s personal banking range is the Classic Current Account, described by the bank as a personal current account offering "the freedom and flexibility to manage all" your everyday money¹. Around it sit savings products, cards, and everyday services such as foreign exchange. On the savings side, the bank pays credit interest on two named accounts, the Junior Saver Account and the Student Account for young people aged 12 to 18, and it offers safe deposit boxes in some locations, though that service is now only available to existing customers who already use safe deposit facilities⁶.

AIB (NI) operates in a distinct banking landscape. Northern Ireland's credit unions have a remit to offer basic financial services such as share accounts, loans and life assurance, but they do not offer current accounts, which leaves the high street banks as the main source of day to day account services⁷. A new entrant, Northern Mutual, has been established to offer interest bearing current accounts, overdrafts, unsecured and secured term loans and mortgages, with safe deposit boxes in some locations, which widens the choice for local customers⁸. Credit unions across Northern Ireland also provide a range of savings and loan services for people who prefer a community based alternative⁹.

If you are weighing up what kind of account suits you, the guides to current accounts and savings accounts set out how each type works, what to compare and what the alternatives are, including credit unions. AIB (NI)'s own product pages carry today's terms for each account.

AIB mortgages: first-time buyers, home movers, remortgages and self-build

AIB Group (UK) p.l.c. holds the regulatory permission to enter into regulated mortgage contracts as a lender, and it is one of the firms that has signed up to the Mortgage Charter, the industry commitment on how lenders treat borrowers who are struggling². That means a mortgage from AIB, whether for a first home, a move, a remortgage or a self build, is a regulated product sold under rules that the Financial Conduct Authority supervises.

The rulebook that governs these loans, the FCA's Mortgage Conduct of Business sourcebook, covers "mortgage contracts (including first and second charge mortgages and bridging loans)", along with equity release products, home purchase plans and sale and rent back agreements¹¹. In practice that sets out how a lender must assess what you can afford, how it must treat you if you fall into arrears, and what charges it can levy on a mortgage in difficulty, a point covered later in this page.

The mortgages guide explains how repayment and interest only loans work, and buying a home walks through the whole process from saving a deposit to completion. AIB (NI)'s mortgage pages carry its current lending terms, and its branches in Northern Ireland can talk through first time buyer, home mover, remortgage and self build options.

Who can get an AIB mortgage, and homes in Great Britain

AIB's UK banking operation appears in the Financial Conduct Authority's review of access to cash with coverage of "Northern Ireland only", reflecting where its branch based business is concentrated¹². The group's Great Britain brand, Allied Irish Bank (GB), is a separate trading name of the same firm, so a mortgage for a home in Great Britain would be written through that side of the business rather than through AIB (NI)². If you are an AIB (NI) customer considering a property in Great Britain, ask the bank directly how it handles cross border lending.

Government support schemes differ by nation, which matters when you are working out what help you can get alongside a mortgage. The Help to Buy equity loan scheme applies to England only, so it is not available for homes in Northern Ireland¹³. Support for Mortgage Interest, a loan that helps with interest payments on a mortgage for people on certain benefits, is available across England, Scotland, Wales and Northern Ireland, and covers interest help on a mortgage amount of up to £100,000 if you receive Pension Credit¹⁴.

Before applying, many borrowers get an agreement in principle from a lender. If you have had credit problems in the past, or a limited credit history, an agreement in principle "could give you added reassurance around your borrowing prospects"¹⁶. The credit scores guide explains what lenders see and how to improve it.

How AIB current account charges and overdraft costs work

AIB (NI) publishes a personal price list setting out its fees, and it commits to giving you notice before charges rise: if it increases a fee or introduces a new one, it will write to you at least two months before the change⁶. Some services are free, including a certificate of balance, a certificate of interest, a replacement Visa debit card and a replacement Online Banking card reader, and holders of the Student+ or Graduate Account are exempt from certain occasional fees⁶.

On overdrafts, the bank states that if your account goes overdrawn during the month you may have to pay Overdraft Charges or Support Fees, but there is no arrangement fee for overdrafts¹. In the rare case where an account enters an unarranged overdraft and a payment cannot be returned, for example an offline transaction on a flight, AIB (NI) states that no additional charges will be applied⁶.

The general rules around overdrafts apply whatever bank you use. There are usually fees or interest if you spend more than you have in your account, including where there is not enough to cover a Direct Debit or standing order¹⁷. If you overdraw on a current account with an overdraft facility, the bank will charge interest on a daily basis and can ask that the overdraft be cleared on demand¹⁸. The current accounts guide explains how arranged overdrafts work and what to compare.

Sending money abroad and buying currency with AIB

AIB (NI) offers foreign exchange services to its customers, with the details set out on its foreign exchange page. Charges apply for sending an international payment, so ask the bank for the current fee before you make a transfer¹⁹. When you use your card to pay in a currency other than sterling, currency conversion fees and cash advance fees may apply, which is worth remembering for card purchases abroad¹⁹.

One restriction is unusual: AIB (NI) will only buy or sell foreign currency notes from existing AIB (NI) customers, so you cannot walk in off the street to order travel money¹⁹. If you are not a customer, the money abroad guide and the guide to sending money set out the alternatives, including specialist transfer services and how to compare the total cost of each.

Banking with AIB: app, online, phone and branches

AIB (NI) Online Banking is available from 7am until 3am, 365 days a year, for managing your finances⁴. Outside those hours, online services may be unavailable between 3am and 7am daily due to essential maintenance⁵. Some tasks have specific requirements: setting up a standing order through internet banking is not possible without a card reader⁵.

The AIB (NI) Mobile Banking App can be downloaded from the Apple App Store or Google Play, and to use it you need to be registered for Online and Phoneline Banking⁴. Through the app you can pay bills and transfer funds to any UK account, with payment limits applying, and you can manage your cards: report a debit or credit card lost or stolen, order a replacement, keep or request a new PIN, and freeze or unfreeze a card⁴. Your registration can be linked to a number of devices, for example if you use both a phone and a tablet⁴.

Branch and phoneline banking sit alongside the digital channels, and AIB (NI) publishes service quality information covering how customers can reach it and its fraud contact number, 0800 0391140⁵. If you are concerned about a scam or an unexpected payment, the scams and fraud guide explains the warning signs and what to do first.

Opening an AIB account or switching to it

The Classic Current Account is open to over 18s who are resident in Northern Ireland¹. Switching from another bank or building society is done through the Current Account Switch Service: AIB (NI) describes it as a simple, reliable and stress free way to move, with the switch taking seven working days, free to use, with incoming and outgoing payments moved and redirected, and interest and charges refunded if the switch fails¹.

If you have an old AIB account you have not touched in years, it may eventually become dormant. AIB (NI) treats an account as dormant when there have been no customer transactions for over 15 consecutive years, and if all your accounts become dormant the balances are moved into the Dormant Accounts Assets Scheme, which uses dormant money to benefit causes²⁰. The money remains yours: to reactivate an account you simply need to process a transaction such as a payment or withdrawal, and to reclaim a dormant balance you complete the bank's Dormant Account Claim Form and bring it to your nearest branch or business centre with identification and an old statement, passbook or other supporting documentation²⁰. If you are reclaiming on behalf of someone who has died, you also need a Death Certificate or Grant of Probate²⁰. The free My Lost Account service can help find bank accounts that have not been used for three years or more, at any bank²¹.

Service quality and how to complain

AIB (NI) publishes service quality information, including its contact details and its fraud line, so customers can check how to reach the bank and what its published commitments are⁵. As with any bank, if something goes wrong the first step is to complain to AIB (NI) itself, giving it the chance to put things right.

If the bank cannot resolve your complaint, you can take it to the Financial Ombudsman Service, the free independent body that settles disputes between consumers and financial firms. The ombudsman deals with complaints across banking and mortgages, including how lenders charge people in mortgage arrears, and it can order a firm to put things right and pay compensation where it finds against them¹¹. The consumer protection guide explains your rights and the complaints process in full.

If you are struggling with repayments

AIB (NI) publishes guidance for customers who want to take control of their finances, starting with listing your essential spending: mortgages or rent, loans, car and travel, gas, electricity and phone, and insurance, then averaging out other essentials such as food and clothing, social and entertainment, and credit card bills, and allowing for unplanned costs such as home and car repairs and family events²². The bank offers a budgeting tool and points to the free Government benefits calculator to check whether you may be entitled to benefits or extra support²².

If the problem is a mortgage, help exists before you miss a payment. Under the Mortgage Charter, you are eligible for support if you are finding it hard to pay your mortgage repayments but have not missed one yet, and AIB Group (UK) p.l.c. is among the signatory firms²³. If you cannot afford your monthly payments on any debt, it may be possible to get interest and charges frozen, and in some cases debts can be reduced or written off²⁴. Free debt advice is available from charities, and the debt guide sets out the options.

In Northern Ireland, court action over unpaid debts begins with a civil bill, and once you have a bill you need to respond quickly, either by paying in full or by contacting the people you owe and arranging time to pay²⁶. Never turn to an illegal money lender: if you cannot make repayments, illegal money lenders will often threaten violence or demand valuable items, and may try to draw you into criminal activity²⁷. The Consumer Council for Northern Ireland publishes help on illegal lending and where to get support²⁷.

FSCS protection: how AIB deposits are covered

Money held with AIB is protected by the Financial Services Compensation Scheme, the UK's deposit guarantee scheme. FSCS coverage includes deposits, current accounts and savings accounts, and the FSCS Protected badge indicates that eligible deposits are protected up to £120,000 per person³. The Bank of England, which runs the scheme's framework, confirms that this covers deposits in current accounts, savings accounts, cash ISAs and savings bonds²⁸. FSCS also protects certain qualifying temporary high balances up to £1.4 million for six months from when the amount was first deposited, which can matter if you briefly hold a large sum, for example after a house sale²⁹.

AIB (NI) is part of AIB Group (UK) p.l.c., a bank authorised by the Prudential Regulation Authority and regulated by both the Prudential Regulation Authority and the Financial Conduct Authority². Because AIB (NI), Allied Irish Bank (GB) and Allied Irish Bank (GB) Savings Direct are trading names of that one firm, money across all three counts together towards the single £120,000 limit². AIB (NI) confirms that it participates in the FSCS, and states that if it transfers your balance to another part of the group, that transfer will not adversely affect any entitlement you have to compensation²⁰. If you hold more than the limit, spreading money between banks with separate licences keeps it protected, and the FSCS website lets you check any firm³. The consumer protection guide explains how the scheme works and where its limits stop.