# AIB ulilateraly plundered joint ac (with 0 bal) & transferred €3k to personal loan ac



## baz6679 (26 Apr 2011)

Hi Guys

My Dad had an overdraft with AIB which was for around €10k. 

He closed this account and had it converted to a form of personal loan and was paying back €110 per month for the past year and half, he had said he mentioned in his local AIB branch he may be getting some money in April and might be able to pay 2-3 K of it. 

However he never got this money and was continuing to pay his monthly payment.

My parents have a joint account also with AIB which they use to pay their mortgage and bills and have their wages etc paid in here and when they went to pay some things today that account has had €3,000 taken from it and is now €3,000 in overdraft.

(They had no money in this account, balance was close to 0).

How the hell can AIB do this? Is it legal? What should they do?

Much Obliged.


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## rustbucket (30 Apr 2011)

It really depends on the agreement he had with the bank when he converted to a personal loan.

10K loan and paying off 110 a month. It sounds like he may have been paying interest only or very close to it.

If thats the case the bank will have put this in place for an agreed amount of time (say 1 year). Normally after the year the customer would re-negotiate with the bank before the year is up because the loan will automatically be cleared and a debit placed on whatever account is used to make the payments. In your dads case the joint account. (I assume this is where the payments of 110 were coming from)

The above happened to me a few years back and the full 10 k was taken from my account. The best thing to do is to go and speak to the bank. They should be able to reverse the 3k deduction and re-set up the loan, although they will probably require increased payments.


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