AIB REGULAR SAVINGS ACCOUNT
AIB Regular Savings Account (Savings Account)
        
If you would like to save between EUR10 and EUR500 per month and earn a promotional interest rate whereby the AER will at least match ECB +2.50% for 12 months from the date the account was opened, then the AIB Regular Saver Account is worth checking out. As well as this great rate of interest, you can access your savings at any time - without penalty. Make sure that you read all of their terms and conditions before you apply so that you understand what you are purchasing. If you have any questions contact their support team.
Location: Ireland
Account Name: AIB Regular Savings Account
Advantages:
1.The AIB Regular Saver Account is a straightforward and flexible account for regular monthly savings - with no hidden restrictions.
2.Accounts opened from 14th April 2009 will earn a promotional interest rate whereby the AER will at least match ECB + 2.50% for 12 months from the date the account was opened. At the end of the 12 months the account will automatically change to earn the Bank’s standard variable rate applicable to the product at that time.
3.You will receive a variable rate of interest, which is calculated daily and paid into your account twice annually in April and October.
4.You have instant access to your savings - you can withdraw any amount (no minimum, no maximum) from your account via AIB Phone & Internet Banking or your AIB branch.
5.You may take a payment holiday (i.e. cease your payments into your Regular Saver Account) at any time, without penalty.
6.You can change your payment amount up to a maximum of EUR 500 at any time, without penalty.
Disadvantages:
You must be 18 or over
Services:
1.With the AIB Regular Saver Account, you can choose to save any amount from EUR10 to EUR500 in one lodgement every month.
2.You also have the flexibility to withdraw your money from this account at any time you like. There is no limit to the amount you can withdraw or no penalties for doing so. Your savings can be easily accessed through your AIB branch or AIB Phone & Internet Banking.
3.To open an AIB Regular Saver Account, you must have a suitable AIB payment account, such as a Demand Deposit Account.
4.You will receive a variable rate of interest, which is calculated daily and paid into your account twice annually in April and October.
5.You will receive a statement on this account after the first transaction, and annually thereafter.
6.No fees or charges apply to the AIB Regular Saver Account.
7.Customers are permitted to hold a total of two accounts in their sole name (or four joint accounts) regardless of when the accounts were opened. Customers cannot hold a combination of sole and joint accounts.
8.Accounts opened from 14th April 2009 will earn a promotional interest rate whereby the AER will at least match ECB+2.50% for 12 months from the date the account was opened. At the end of the 12 months the account will automatically change to earn the Bank’s standard variable rate applicable to the product at that time.

Interest APY: 2.50%Interest Gross: 2.50%
Interest Paid: YearlyMinimum Income: N/A
Overdraft Rate: N/A
Banking Charges: N/A
Service Charges: See website for details
Account Access: Online, Branch
Withdrawal Access: Anytime

Free Banking: YesDebit Card: No
Cheque Guarantee Card: NoStanding Orders: No
Direct Debits: NoOverdraft Facility: No
Account Manager: No

Conditions:
Over 18 only
Features:
If you would like to save between EUR10 and EUR500 per month and earn a promotional interest rate whereby the AER will at least match ECB +2.50% for 12 months from the date the account was opened, then the AIB Regular Saver Account is worth checking out. As well as this great rate of interest, you can access your savings at any time - without penalty.
Introductions and Offers:
N/A
Terms and Conditions:

Regular Savings Account Terms and Conditions
These terms and conditions apply to AIB Regular Saver Accounts ("the Account") maintained by Allied Irish Banks, p.l.c. ("the Bank") for its customers ("the Customer"); they may be changed by the Bank by notification to the Customer by such means as the Bank considers appropriate. These terms and conditions are in addition to the terms and conditions of the banker-customer relationship implied by law, unless they conflict, in which case these terms and conditions will apply. Please note that there may be alternative products which have different benefits, restrictions and/or cost or income options. If you want any further information please ask at any AIB branch.


1. The Account
1.1  The Customer must conduct the Account in credit at all times.
1.2  An Account statement will be issued to the Customer after the first transaction on the Account. An annual statement will be issued on the anniversary of this date every year thereafter.
1.3  A customer may have no more than two account in his or her sole name or no more than four accounts jointly with another customer. A customer may not have both a sole account and a joint account.


2. Withdrawals
2.1  Withdrawals from the Account may be made by debit either at branch or through AIB Phone & Internet Banking (provided the Customer is a registered user of AIB Phone & Internet Banking) or other means which the Bank may permit.
2.2  No standing orders or direct debits outwards are permitted on this Account.

3.   Lodgements
3.1 The only lodgement to the Account shall be one regular monthly lodgement, the amount of this lodgement will be advised by the Customer to the Bank at account opening and may only be amended in accordance with Clause 3.7 below.  
3.2 No additional lodgements by the Customer are permitted to the Account.
3.3 The regular monthly lodgement must be made from a nominated AIB account, which must be a current account, a cashsave account or a demand deposit account.
3.4 Lodgements from your nominated account must be cleared before we can pay a subscription from the proceeds. You must ensure that the funds for subscription are in your nominated account on the day before your subscription date.
3.5 The minimum monthly subscription is EUR10 and the maximum monthly subscription is EUR500.
3.6 You can choose a subscription date of any day between the 1st and the 25th of the month.  Subject to funds, subscriptions will be paid from your nominated account each month on the subscription date you have chosen or on the next business day if that subscription date falls on a non-business day.
3.7  You must write to us if you wish to change your subscription amount or date and you must give us 5 business days notice for any change.
3.8  The Bank may reverse an entry on the Account if any item credited to the account is subsequently recalled and the Customer will be liable to pay the Bank any debit balance which arises on the reversal of any entry.
3.9 As interest is calculated daily and paid in arrears, lodgements of cleared funds accepted for your account prior to the *applicable cut-off time on a Business Day are credited to your account and shall accrue interest from the date of receipt of such funds. Lodgements of cleared funds posted after the daily cut-off time on any Business Day are deemed to have been received by us on the next Business Day. No interest will be paid on any cleared lodgement posted to the account after the cut-off time where the account is closed on the same day (that is, the next Business Day). *Cut-off times vary dependant on the type of instruction furnished and whether or not the lodgement is initiated electronically. For applicable cut-off times please refer to the appropriate paper payment application form, the Phone and Internet Terms and Conditions for electronic payments and the notices displayed in branches.


4.   Interest
4.1 The Bank pays interest calculated on the daily balance of the Account at the Bank's Regular Saver Account rate. The interest is paid into the Account half yearly in April & October. Payment or crediting of interest is subject to Deposit Interest Retention Tax (DIRT) at the prevailing rate. The Bank will deduct DIRT from the accounts of non-residents unless a fully completed non-resident declaration form is held by the Bank, and a minimum balance of EUR12,500 is maintained at all times in the account. The minimum balance requirement will apply separately to each account that a customer holds. Aggregation of balances will not be allowed. If an account balance falls below the minimum threshold the account will revert to paying DIRT at the prevailing rate. In the event that the account balance subsequently rises above the minimum threshold the account holder will have to reapply for exemption and provide fresh confirmation of residential status.
4.2 If you or your spouse is aged 65 or over in the current tax year, or you or your spouse is permanently incapacitated and satisfy the conditions exempting you from income tax, you may apply to have the interest on the account paid without deduction of DIRT.
4.3 Details of interest paid, along with details of the person to whom the interest was paid, may be reported to the Revenue Commissioners, in accordance with the requirements of S.891B of the Taxes Consolidation Act, 1997.
4.4 For Customers who are not resident in Ireland but are resident in a Member State of the EU or one of the reportable territories, the Bank must disclose to the Irish Revenue Commissioners, details of the Customer's identity, address and interest paid to the Customer, in accordance with the requirements of the EU Savings Directive.

5. General
5.1 The Bank may at any time, without notice to the Customer, set off and apply the credit balance in the Account toward payment of the debit balance on any other account.
5.2 The Customer will not be entitled to draw on one account in reliance on the balance in another account.
5.3 The Customer must advise the Bank if there is a forgery.
5.4 Information provided by the Customer will be used by the Bank only for the purposes registered under the Data Protection Act 1988, including business purposes, making credit decisions and marketing.
5.5 The Bank may disclose information about the Customer and the Account to any of the companies in the Allied Irish Banks Group.
5.6 In the interpretation of these terms and conditions, where the context allows, the singular shall include the plural and vice versa.
5.7 Any demand or notice sent by the Bank to the Customer by post to the last address notified by the Customer, shall be deemed to have been received twenty four hours after dispatch by ordinary post, or immediately upon hand delivery.

 

        
REVIEWS
AIB Regular Savings Account (Which Way To Pay Ireland - 15/2/2013)
AIB Regular Savings Account is ranked 4 out of 5. Based on 1 review.

4 Star Rating

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