Graduate Overdraft DM

Information about your Distance Contract

In accordance with the EU Directive on Distance Marketing of Consumer Financial Services the following information must be provided to you regarding your Graduate Overdraft, particularly where you apply for the facility by phone, post or internet.


About Us

We are Allied Irish Banks, p.l.c. whose principal business is the provision of financial services.  Our registered office is at Bankcentre, Ballsbridge, Dublin 4.  We are registered at the Companies Registration Office, Dublin.  Our registered number is 24173.  Our VAT number is IE 8E86432H.

About our Overdrafts for Graduate Account Holders

  • A special 0% interest rate will apply to drawn balances up to an approved Overdraft limit or €1,000 whichever is less, for as long as the account is classified by the Bank as a Graduate Account. Any balances over €1,000 will be subject to the Bank's Standard Variable 'A' Personal Overdraft rate currently 11.85% Interest Rate, subject to variation.
  • Interest is calculated daily on what you owe us and charged quarterly in March, June, September and December.
  • You can terminate an Overdraft at any time by notifying the Branch at which you keep your account and by paying what you owe us including interest.
  • If you break the terms of the agreement we can terminate the agreement and demand repayment of what you owe us including interest.


Your Right to Cancel

  • You have the right to cancel the overdraft with us within 14 days of your receiving a copy of the signed Letter of Sanction by writing to the Manager of your AIB Branch, quoting details of the agreement.

The agreement will be governed by the laws of Ireland and the Courts of Ireland will have exclusive jurisdiction to resolve any disputes.

The agreement and all information and communication with you will be in English.

What to do if you have a Complaint

In the event that you wish to make a complaint you may do so by writing to our Customer Support Unit at Bankcentre, Ballsbridge, Dublin 4.  If you are still not satisfied you are entitled to take your complaint to the Financial Services Ombudsman at 3rd Floor, Lincoln House, Lincoln Place, Dublin 2.

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