AIB Online Notice Deposit 7

I've had more problems with this account. What they don't tell you is that you can't transfer from an external non-AIB account directly to the Online Notice Deposit 7 Account despite the fact that they give you a sort code and account number when you open the account.

I tried transferring 6K from my Rabo account to this AIB account on Friday and still no sign of it. Called AIB 24 hour yesterday and they said that this account can only accept transfers from my AIB current and other AIB savings accounts and to get Rabo to track the funds and reverse the transfer. So called Rabo and they said they've had hundreds of calls about this AIB account and money "going missing" en-route in the last couple of weeks and that AIB are sending cheques back to Rabo for the amount and they can't reverse the transfer. Also some money isn't coming back at all so I now have to contact my AIB branch directly to see what the story is!
 

To clarify - we have had 7-10 calls from customers regarding this issue with AIB's online account as opposed to "hundreds". RaboDirect customers are using a valid AIB sort code and account number but it appears that the AIB account is not open to credit transfers from external accounts. This is an AIB issue not a RaboDirect one. We cannot reverse the transfer. AIB should sent the funds back to RaboDirect electronically but instead we are receiving cheques from AIB which slows everything down. AIB customers should also check that their funds are not sitting in their AIB current accounts in case AIB have put the transfer there as opposed to returning it to RaboDirect.
 
Well yesterday when I called Rabo the guy I was talking to said they had "many" calls about this. Only today was that clarified to be around 7 calls. Apologies for my error.

I'd also like to clarify that I'm not blaming Rabo - I'm blaming AIB for not stating that funds can't be transfered from external accounts. And for the way AIB are handling the situation now.
 
RaboDirect said:
To clarify - we have had 7-10 calls from customers regarding this issue with AIB's online account as opposed to "hundreds".
Click to expand...

In fairness to moondance - when I called with the same issue (4th Jan) the girl I spoke to told me she'd had "loads" of calls from AIB customers.

As per my previous post she told me the amount would be returned by draft from AIB and that it would be a week or more before it would be credited to my Rabo account. No further action would be necessary on my part.
 
I had this same problem, trying to transfer directly from Rabo to the AIB Notice 7. I specifically asked AIB's 24-hour banking people if I could do a direct transfer from Rabo, and was told "yes" - before I attempted the transfer. Chasing up AIB was no good; they told me that Rabo would have to fix it and that "they hadn't received anything." Called back to confirm sort code and account number in case I had made an error. No comment from AIB at any stage that the account wouldn't accept external transfers.

In the end Rabo chased it down for me with AIB and confirmed the situation. Money was gone for three weeks before it reappeared in Rabo. Top marks to Rabo's customer service, who seem better able to explain AIB's products than AIB itself is.
 
AlroD said:
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.
Click to expand...

I would like to confirm that I have also received the same message when communicating with AIB on this - there appears to have been a lot of confusion around this topic. Here is there response:
"...customers would earn 5% on balances up to 10k and then 3.5% on whatever balance thereafter.

So for example if you had a balance of 20k you can earn 5% on the first 10k then 3.5k on remaining balance."

Since the message on this from AIB seems to be consistent now, can we have the Financial Best Buys updated with this information?
 
Just an update on how I'm getting on.

I can confirm that the AIB Demand Deposit Account suffices for both online banking, and as a feeder account for an AIB Online Notice Deposit 7 account.
Important point been no transaction fees or charges on a demand deposit account.
[broken link removed]

Maybe the Best Buys should be updated with this, as it currently gives the impression that only a current account will suffice.. and this has fees / charges.
From the Best Buys:
Customers must have an AIB current account and be registered for phone and internet banking.
Click to expand...
 

Also, anyone with an old Cashsave account can use this as a feeder account, once they have had on-line banking with AIB:

From the T&C's:

1.3 In order to operate the account, customers must also have a suitable AIB feeder account, which must be a demand deposit account, a cashsave account or a current account.
Click to expand...

I discovered this after I had closed my current Account with AIB, but the on-line banking was still accessible, because of the old Cashsave, with Zero Punts in it
 
like the top two users, i don't have an aib current account but had my ssia there and since that finished i still have the original feeder account and the converted ssia account which i think is now a AIB Demand Deposit Account as mentioned above, accounts work smoothly
 
Mmm could someone clear this up for me...

Looking at the T&Cs for AIB online banking, they state a 20 cent transaction fee. I presume this is applicable only to AIB current accounts that didn't fulfill the criteria for free banking for the banking quarter... as the fees and charges for the current account state 20 cent as well for transaction fees.

I currently only have: demand deposit account(no fees or charges so theoratically good account to act as a feeder) + online banking + online notice 7 deposit account..... so am I open to these transaction fees?
Anyone with a similar setup that's been through a banking quarter..?
 
MysticX - did the bit in red work?
 
I have an AIB "Cashsave" demand deposit account which accepts transfers from outside AIB and allows transfers from it into the Online Notice Deposit 7, if that helps any.
 
ClubMan said:
MysticX - did the bit in red work?
Click to expand...
Yes. Actually I did transfers from Rabo to the demand deposit account and it seems consistent in only taking 2 days(appears on day 3).

Transferring from the demand deposit account to the online notice deposit 7 account is instaneous.

So I think of it like Rabo outbound transfers, except its going the opposite way.
 
Thanks a lot MysticX. Never thought I'd become an AIB customer but there's a first time for everything...
 
Never been an AIB customer so I recently opened a demand deposit a/c. Before I could register for internet banking they insisted I make a lodgement for 'security' reasons so had to arrange an eft from my non AIB current account to the demand account.

Other than that slight wrinkle the whole thing is easy.
 
I dropped into the local AIB yesterday to open an account. The sales assistant wanted me to open a current account but I told him (as per the earlier advice on this thread) that I wanted a demand deposit account as the feeder account. He consulted with his colleague to confirm that this was OK. He seemed surprised. Anyway with the usual ID (passport - I noticed that he transcribed the passport number incorrectly - and proof of address < 3 month old bill with address) he opened that account for me, gave me the new sort code/account number, registered me for online banking and told me that once I got the stuff in the post I could log on and then create the online 7 day notice account myself. He did not ask for any lodgement to be made there and then. Maybe it depends on the branch or your circumstances or something...?
 
As an existing AIB online banking customer, I just opened this new account online, transferred a lump-sum, all in about 60 seconds! Well done for the info. Many thanks
 
oopsbuddy said:
As an existing AIB online banking customer, I just opened this new account online, transferred a lump-sum, all in about 60 seconds! Well done for the info. Many thanks
Click to expand...

I did the same and transferred all money from my Regular Saver (then wrote to AIB to close this account), but was wondering about the interest on my Regular Saver which has accumulated recently. Will they transfer this to my Notice Deposit 7 automatically once calculated?
 
What instructions did you give them on opening the regular saver account regarding interest payments and where they should go?
 
You must log in or register to reply here.
Menu
Log in
Register