Currency Current Accounts
While we offer current accounts in many currencies, we do not offer Sterling current accounts through our London Branch.
Other Sterling current accounts are available.
Benefits
Currency Current Account
Most major currencies
Your business can open an account in any major currencies you deal in. This means you can make and receive payments in that currency, without the need to convert to Euro.
Reduce risk
If you have payables and receivables in the same currency, a Currency Current Account can help to manage the risk posed to your business by fluctuating exchange rates.
Save time
We know you want to spend your time focused on your business. Banking online with iBusiness Banking makes payments more efficient for you.
Sterling Current Account
With effect from 19 September 2023, Allied Irish Banks, plc London Branch (AIB London Branch) was formally authorised by the Prudential Regulation Authority (PRA) to operate as a Third Country Branch in the UK. See Sterling Current Account – Third Country Branch for more information.
The temporary pause on the opening of new Sterling Current Accounts remains in place.
Financial Services Compensation Scheme
In the event that Allied Irish Banks p.l.c, London Branch is unable to meet its financial obligations, your eligible deposits are protected up to a total of £85,000 by the Financial Services Compensation Scheme, the UK’s deposit protection scheme. In the case of joint accounts, each account holder is protected up to this limit.
For further information about the scheme, view the FSCS Brochure as well as the Information Sheet and Exclusions List or refer to the FSCS website www.fscs.org.uk
Currency current account at a glance
- Available in all major currencies
- Supports international payments
- Can help your business manage exchange rate fluctuations
- Overdraft facilities available
How to open a currency current account
Complete the application form online at the back of the Guide to Currency Accounts, print and sign it (or print and complete it manually). Bring the signed form to your AIB branch.
Need help? Call +353 1 6115210 (9am – 5pm Monday to Friday).
Additional information
Currency Current & Sterling Current Accounts
- Accounts must be operated in credit at all times, except business customers with approved overdraft limits. Any items presented on the account where there are insufficient funds may be returned unpaid.
- No credit interest is payable.
- Direct cash lodgements or withdrawals are not supported.
- Joint accounts are available to a maximum of 4 parties.
Currency Current Accounts
- No chequebook, standing order or direct debit facilities available.
Sterling Current Accounts
- Incoming and Outgoing International payments are not supported (only sterling payments within the UK are supported).
- The account is provided by Allied Irish Banks, p.l.c., London Branch. Authorised by the Prudential Regulation Authority. Subject to regulation by the Financial Conduct Authority and limited regulation by the Prudential Regulation Authority. Details about the extent of our regulation by the Prudential Regulation Authority are available from us on request.
