Benefits

Currency Current Account

All major currencies

Your business can open an account in any major currency 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

Convenient payment options

If your business operates in sterling, and you are resident, trading and incorporated in Republic of Ireland, we offer a separate Sterling Current Account. With this account, you can make or receive payments to the UK.

Cost effective

Can help to manage the risk posed to your business by fluctuating GBP exchange rates. You can use a Sterling Current Account for cost effective credit transfers within the United Kingdom.

Access to UK Payment schemes

Access to the UK payment schemes through the UK Faster Payments Scheme (FPS), by cheque, direct debit and standing order.

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

Sterling current account at a glance

  • For customers trading in the UK
  • Cost effective sterling credit transfers
  • Can help your business manage exchange rate fluctuations
  • Range of payment options to the UK
  • Cheque book facility
  • Overdraft facilities available
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Sterling current accounts – Brexit implications

How to open a currency current account

Download the application form at the back of the Guide to Currency Accounts or Guide to Sterling Current Accounts. Return the completed form to your AIB branch.

Need help? Call +353 1 6115210 (9am – 5pm Monday to Friday).

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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. Deemed authorised by the Prudential Regulation Authority. Subject to regulation by the Financial Conduct Authority and limited regulation by the Prudential Regulation Authority. Details of the Temporary Permissions Regime, which allows EEA-based firms to operate in the UK for a limited period while seeking full authorisation, are available on the Financial Conduct Authority’s website.