# AIB High Interest Current Account - AIB Have Reduced Interest to Zero



## Crunchie (30 Mar 2011)

I got a letter from AIB today advising that interest would no longer be paid on any of their current accounts after 16 June. Only ever got about €2.70 a quarter but it was better than nothing


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## Lightning (30 Mar 2011)

Thanks for pointing this out. Yeah, the rate is now zero. 

I just found this change in small pint here:
[broken link removed]

I will update the best buys.

The AIB website also says that the high interest account cannot be opened by new customers. The Consumer Association does not list this on the itsyourmoney.ie, under current accounts, I am going to contact them.


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## Lightning (30 Mar 2011)

*Indo: AIB Axes Interest Payments*

http://www.independent.ie/national-...nt-accounts-but-staff-keep-perks-2600003.html



> BAILED-out bank AIB is to stop paying interest on its current accounts.
> 
> The move was confirmed yesterday as the State prepared to pump billions more into Ireland's two biggest banks.
> 
> ...


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## theresa1 (31 Mar 2011)

So Bank of Ireland will now be the only Bank still giving interest on a Current A/c.


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## marksa (31 Mar 2011)

theresa1 said:


> So Bank of Ireland will now be the only Bank still giving interest on a Current A/c.


 
NIB pay 1.75% with no strings on the Prestige Current account, and 1.00% on their Easy Plus current account (the one I have). Both have quarterly fees a bit like ufirst, and that gives the current acc credit interest, better rates on credit cards, overdrafts as well as the Mastercards have free travel insurance. Quarterly fees are below- 
Easy Plus Customer Package €18.75 per quarter
Prestige Customer Package €31.25 per quarter

Basically if you have over 10k on average in your current acc through the year then the interest will pay for the fees. This would probably suit self-employed people who would regularly have lumps of money in their current accounts.
[broken link removed]


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## zen (4 Apr 2011)

Bank of Ireland will follow suite.  They all will.  This is a test to the peoples reaction.

My letter was worded and I quote

"Dear Customer,
I am writing to let you know that we have recently completed a review aimed at reducing the range and complixity of our current account products.  As a result credit interest will no longer appliy to personal current accounts with effect from 15th June 2011."  it went on.....

I decided to help them with their "complexity" issue.
Since then I have transferred all my funds from my 7day notice account to a different bank as well as withdrawing all funds from my current account and will do every month I get paid.


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