Questions & Answers

General Questions and Answers

Where can I see my terms and conditions?
- You can read the terms and conditions on our website at www.aib.ie/terms-and-conditions-updates.
What happens if I am not happy with any changes made to the terms and conditions?
- We appreciate your business, but if you do not want to accept the changes, you have the option, free of charge, to close your account, clearing anything you owe on it first, or let us know that you are ending your agreement with us.

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Questions and Answers for SEPA Instant

What is SEPA?
- The Single Euro Payment Area (‘SEPA’) is an initiative to simplify euro payments. It is introducing payments that get processed within seconds every day.
- The change to payments coming into payment accounts is effective since 9 January 2025; and to payments coming out of payment accounts will happen on 9 October 2025.
What is a SEPA credit transfer?
- A SEPA Credit Transfer (SCT) is an electronic transfer of money, from one account to another, in the SEPA Zone.
What is a SEPA Instant Credit Transfer?
- A SEPA Instant Credit Transfer allows the transfer of money between two payment accounts in the SEPA zone within seconds, every day.
Is a SEPA Instant the same as an AIB to AIB account transfer?
- No. While electronic transfers to other AIB payment accounts often happen immediately, they are not currently SEPA Instant Credit Transfers. You will also be able to send SEPA Instant Credit Transfers from one AIB payment account to another later in 2025.
How does this affect my account?
- You are now able to receive SEPA Instant Credit Transfers into your payment account from another payment providers payment account immediately.
Is there a maximum amount for a SEPA Instant Credit Transfer into an account?
- A maximum amount applies to SEPA Instant Credit Transfers. Please contact us on 0818 664 015 Monday to Friday 9:00 - 17:00 excluding Bank Holidays for more information.
Can I receive a SEPA Instant Credit Transfer on a non-business day?
- A SEPA Instant Credit Transfer to your payment account can be received at any time on any day, including weekends and bank holidays.
Do I have access to my money immediately?
- Yes, you will have access to money immediately at any time on any day.
Are Incoming SEPA Instant Credit Transfer be available at all times?
- Yes. There may however be short periods of planned maintenance where they are not but we will notify you of these in advance. Any such periods will be minimised as much as possible.
What payment accounts are covered by SEPA Instant Credit Transfers?
All our Republic of Ireland payment accounts have this feature.

The following AIB ROI payment accounts can receive SEPA Instant Credit Transfers.
- Personal Demand Deposit Account
- Demand Deposit Account
- Online Saver Account
- Youth Savings Account
- Basic Bank Account
- Advantage Account
- Student Account
- Student Plus Account
- Graduate Account
- Business Start Up Account
- Business Current Account (incl. Young Farmer Account)
- Personal Bank Account
- Masterplan Account
- Junior / Student Saver
- AIB Corporate, Business and Purchasing Cards
- AIB All Personal / Student Credit Cards
- AIB (NI) Euro Current Accounts
Can a Mortgage account or Loan account receive a SEPA Instant Credit Transfer?
- No, only payment accounts can receive a SEPA Instant Credit Transfer.
What countries are impacted by this change?
The SEPA scheme consists of 27 EU countries
- Austria
- Belgium
- Bulgaria
- Croatia
- Republic of Cyprus
- Czech Republic
- Denmark
- Estonia
- Finland
- France
- Germany
- Greece
- Hungary
- Ireland
- Italy
- Latvia
- Lithuania
- Luxembourg
- Malta
- Netherlands
- Poland
- Portugal
- Romania
- Slovakia
- Slovenia
- Spain
- Sweden
The European Economic Area (EEA) includes EU countries and Iceland, Liechtenstein and Norway are allowed be part of the EU's single market.
What currencies are covered by SEPA?
- Euro
Do I need to sign up or do anything additional to receive Incoming SEPA Instant Credit Transfers?
- No, you don’t need to sign up or do anything additional.
What are the changes to the terms and conditions?
- The changes to the terms and conditions cover payments under SEPA Instant Credit Transfers into personal and business payment accounts held in the Republic of Ireland.
Can I make an outgoing SEPA Instant Credit Transfer with AIB?
- Yes, but it will be later in 2025 and we'll let you know closer to the time.
Are there additional fees for receiving SEPA Instant Credit Transfers?
- No there are no additional fees for receiving a SEPA instant payment.
How do I identify when a SEPA Instant Credit Transfer has been received to my Payment Account?
- SEPA Instant Credit Transfers received to your Payment Account can be identified by their ‘TxnDate’ on your AIB account statement. This shows the transaction date on which the SEPA Instant Credit Transfer was received.
Will I receive credit value and interest on a non-Business Day?
- From the 9 January 2025, if you receive a SEPA Instant Credit Transfer to your payment account, ‘TxnDate’ (transaction date) shows the date the payment is received on your statement. Value is determined for interest purposes on a SEPA Instant Credit Transfer from the transaction date. If the transaction date is not a business day, you will earn interest from the previous business day, where applicable. If this changes, we will let you know in advance.
- For example, if you receive a SEPA Instant Credit Transfer to your payment account on a Saturday the value of the interest (where applicable) for this payment will be applied from the previous business day e.g. Friday.
Where can I see the Credit Value Date for a SEPA Instant Credit Transfer received to my Payment Account?
- If you use our online banking services, you can find more information about your payments in the Payment Logs. This will include a “Credit Value Date” field for SEPA Instant Credit Transfers received which will confirm the date from which interest has been calculated.

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Questions and Answers for Consumer Rights Act 2022

What is the Consumer Rights Act (CRA)?
- CRA consolidated and updated consumer protection laws and introduced new protections for consumers. CRA sets out the requirements for consumer contract terms and conditions to be fair.
How does this affect my bank account?
- The changes we have made because of CRA do not change how your account operates. You can continue to use your account as normal.
How has CRA affected my terms and conditions?
CRA consolidated and updated consumer protection laws and introduced new protections for consumers. As a result, we updated our terms and conditions to clarify some things and to make them easier for you to understand.

You can read the terms and conditions in full on our website at www.aib.ie/terms-and-conditions-updates.

The Terms and Conditions for the following accounts and services were updated as of the 9 January 2025:

AIB

All Current, Demand Deposit and Masterplan Accounts including:
- Student, Student Plus and Graduate Accounts
- Advantage Account
- Personal Bank Account
- Basic Bank Account
- Junior/Student Saver
- Youth Savings Account
- Personal Demand Deposit Account
- Demand Deposit Account
- Online Saver Account
- Business Current Accounts (including Business Start Up Account and Young Farmer Account)
- Masterplan Account
All personal Credit Cards
All personal Debit Cards
Digital Wallet
Phone and Internet Banking
Kiosk Banking
Currency Current Accounts
Currency Call Deposit Accounts
Currency Fixed term Deposit Accounts
Treasury Deposit Accounts (ROI and UK)
Personal Fixed Term Deposit Account
Lodgement Cards
Private Banking Account
Direct Deposit Account
Sterling Current Account

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Questions & Answers

General Questions and Answers

Questions and Answers for SEPA Instant

Questions and Answers for Consumer Rights Act 2022