AIB Online Notice Deposit 7

I can second that - called 24 hour banking and double checked with the person on the phone.

So... Looks like this might be a good replacement for Rabodirect cash - if they reduce their rates in the New Year.
 
I thought the website was clear enough:
"You can avail of our great interest rates of 5.00% AER variable on all balances up to EUR10,000, and 3.50% AER variable on savings amounts from EUR10,001 - EUR100,000."

If this is not the case then this would be a seriously misleading statement!

Slim
 
Yes, called AIB again today and this time I was told that you would get 5% on the first 10k and 3.5% on all subsequent monies.
 
This looks like an acceptable replacement for Rabo though i'm not an existing AIB customer so to get this setup:
(1) Visit local AIB branch and setup a demand deposit account(though the AAM sticky states you need a current account???). Naturally bring 2 forms of ID for anti money laundering requirements.
(2) Register for AIB online banking.
(3) Do an EFT from my main bank to the new demand deposit account(should accept EFTs from external banks right?).
(4) Use AIB online banking to internally transfer funds from the demand deposit account to the online notice deposit account.
(5) See about setting up a payee to transfer interest payments to.

So in essence the demand deposit account would function like a Rabo current account..i.e. an intermediary for funds management?

Thanks.
 
Just opened one of these in preparation for moving over 10k from Rabo this week.

It was delightfully easy. I simply selected AIB on-line banking option that I wanted to set one up and it came straight back with a sort code and account number that was immediately visible in my list of accounts.

No annoying requests for ID from the bank that I've already supplied them with.
 
From the AAM sticky http://www.askaboutmoney.com/showthread.php?t=27891:
Customers must have an AIB current account and be registered for phone and internet banking. 7 days notice required for withdrawals. Interest paid in April and October.
Click to expand...

From AIB page [broken link removed]:
You must be a registered user of AIB Internet Banking, and have a suitable payment account, for example a Demand Deposit or a Personal Current Account.
Click to expand...

So looking at the AAM must + current account....

Are there some complications or something if you just opt for the demand account in online banking???
 
I've only got a cashsave account (savings with rubbish interest rate) and a regular saver account. A current account is not a prerequisite if you have a cashsave already.
 
I plan on opening a savings account with AIB. I have no lump sum to deposit. I was going to start with 10 Euros going into the savings weekly and forget about it.

Would i be better off with the personal savings account or this new Notice Deposit 7 account? It seems the new one is better, but people are talking about putting alot of money. Any advice is welcome.

Kye.
 

I've actually gotten around to kicking this off so just an update in case anyone is following the same flight plan.
Probably just the branch I visited but of note:
-Had to prompt them that you don't need an AIB current account to open a demand deposit account with them, in fairness though probably no-one has opened one up in ages so they probably weren't familiar with such accounts
-Had to reassure them that this is what I wanted(as the interest rate is awful), thankfully the manager understood what I ment when I explained that it's only going to be a feeder account for an Online Notice Deposit 7 Account
-Bit surprised that they were asking for personal details like was I married, but at least they gave me the option of declining to submit such details

So by tomorrow I should have my new(and perhaps rare) AIB demand deposit account, then onto getting online banking running.

Btw which is the least troublesome and error free method of getting AIB online banking up?
Their site states:
 
No chance anyone can answer my post? I get paid tomorrow so i can finally start saving.

Kye.
 
It is a matter of personal choice. Personally I would opt for the on line notice deposit 7 as it is less restrictive.
 
AIB Online Notice Deposit 7 Account

I apologise if there is already a thread on this but I did look and couldn't find it. I just opened this account to move some of my Rabo money over as they are offering 5% interest - but there is a 7 day notice if you want to withdraw funds.

My problem is that I just tried setting up a standing order from my current account to this saving account and I kept getting an error. So I called the support line and I was told that you can't set up a standing order to this type of account as it "confuses" the system. So you can transfer money in at any time online but no standing orders. Is this normal for a deposit account as I've never had one that wasn't on-demand before?
 
I use AIB internet banking under a joint account for many years now.

Having read about this option I opened one of these accounts before Christmas. It was very simple to do but I'm just wondering if it was too simple.

Can see the account on screen but to-date have not received any confirmation or statement showing the exact account number and details of account holders names. Has anyone else received confirmation or will this not happen until statement of interest is issued?

The extremely long account number appeared on the screen for a few seconds when the account was being processed but an abbreviated version of this is all that is visible now.
 

Even though you have a joint a/c I think you'll find that the account is only opened in one name (this is in the T&Cs somewhere). At least that's what happened in our case. I can see the a/c from my online banking but OH can't see it from hers. The same happened when we opened AIB Online PSP a/cs

Like yourself I only saw the account number briefly on screen but a point to note (also in the T&Cs) is that you can only lodge to it from your AIB account. I tried a small test transfer from Rabo directly to it and it was rejected. When I spoke to Rabo they said AIB return such payments by draft and it can take a week or more for them to be credited back to the Rabo account.

I haven't had any correspondence either about the account but I suspect I won't until I get a statement. Again this was my experience with the Online PSP a/c.
 
Last edited by a moderator:
I also opened one of these new 7 day accounts and I transferred most of the balance of my regular saver ac into it. Both transactions were completed in a couple of minutes !! It all seemed very easy.
 
May be of interest to know that those who have an AIB joint current a/c can each open a 7 day notice online a/c and feed from the same aib joint current a/c. This means €20,000 at 5%. Each of us set one up and it really was the simplest process - done in a couple of minutes, new account number listed on my accounts and transferred funds from current a/c instantly. I'm happy!
 
You must log in or register to reply here.
Menu
Log in
Register