COVID-19 - Live updates

In these uncertain times, we are here to help. For the latest news on our services, including any temporary changes to our Branch or Phone Line operations, go to our Services Updates page here.

Thursday, 28 May 2020

Guide to the COVID-19 Payment Break

Today the Banking & Payments Federation Ireland (BPFI) and their members have published their ‘Guide to the COVID-19 Payment Break’.  Customers who have yet to consider the option of taking a payment break are urged to contact their lender as soon as possible to allow enough time to process applications before the deadline of 30 June. This deadline has been set by the European Banking Authority (EBA).

The guide provides information on payment breaks, including how a payment break will affect your loan, and things to consider when deciding if you need a payment break or to extend your existing payment break. The guide also provides information on what to do if you find you are unable to return to full repayments after taking a payment break.

The BPFI’s ‘Guide to the COVID-19 Payment Break’ is available to download on the BPFI’s website here.

Thursday, 30 April 2020

Payment Breaks Extended from Three Months to Six Months

A further three-month extension has been added to the payment break for personal and business customers who have been impacted by the Covid-19 pandemic, allowing for a payment break of up to six months in total.

AIB will be contacting customers who are currently on the payment break over the coming weeks and months about this extension option. 

This extension arrangement will also be available to customers who have yet to apply for a payment break, once they do so by 30 June.  

Thursday, 23 April 2020

Rise in Contactless and Digital Wallet Use Due to Covid-19

We have analysed how Covid-19 has changed the behaviour of Irish consumers since new contactless limits were introduced on April 1.

Irish consumers are spending 30% more per transaction using contactless on their debit cards.

Consumers are also using their Digital Wallets (Apple Pay and Google Pay) more, with average spend among Apple Pay and Google Pay users up 41% and 45% respectively. Apple Pay and Google Pay have higher limits than contactless.

When broken down demographically, the data also tells us that, since April 1:

  • Contactless using a debit card is the most popular choice of instore payment method among all age cohorts, except those under 25 where it accounts for 28% of spend;
  • Digital Wallet spend accounts for 37% of all instore transactions by those who are under 25, with the average amount up 24% and 35% for Apple Pay and Google Pay respectively;
  • The average amount per transaction being spent by those between the age of 25 and 34 is up 41% among Apple Pay users and 45% among Google Pay users. However digital wallet transactions only account for 7% of the total instore spend by this age group;
  • Customers over the age of 45 are spending 31% more using their Digital Wallets.

The data has been compiled from over one million debit card transactions between 1 and 12 April and has been anonymised and aggregated.

Friday, 17 April 2020

How to defer your business’s maintenance and transaction fees

From today, business customers affected by COVID-19 can choose to defer the payment of maintenance and transaction fees for the period December 2019 to February 2020 until later in the year. 

This option will allow you to reverse the payment made on 30th March and, instead, spread it across three equal instalments in September, October and November 2020.

If you are a Corporate Banking or Financial Solutions Group customer, or your Relationship Manager is in one of our Business Banking Business Centres, please contact your Relationship Manager for further details and to apply.

All other business customers can go to this page and have an authorised signatory on the account complete the request form by 5pm on 1st May 2020

Previous updates

Information from previous dates