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Payment Changes on iBusiness Banking 21st November 2011

On the 21st of November 2011 we introduced a number of changes to comply with the requirements of the EU Payment Services Directive (PSD) 2007/64/EC

Sterling Current Accounts (NSC 23-85-90)

These included changes to the payment services available to Sterling Current Account (NSC 23-85-90) holders through iBB. Please refer to the related information section at the top of the page for more details on these changes or to obtain a copy of the new Terms and Conditions for these accounts. (A Guide to Sterling Current Accounts).

3rd Party Domestic Payments

From the 21st November 2011 AIB will, where possible, process all 'Third Party' payments to other financial institutions within the Republic of Ireland through the SEPA Credit Transfer (SCT) scheme, instead of the existing domestic credit transfer scheme.

A 'Third Party' payment authorised at any time during the business day and processed through the SCT scheme will be delivered to the beneficiary financial institution during the following business day. Please note the time of delivery of the credit value may vary depending on the beneficiary financial institution's connectivity to the SCT scheme. (Please see table below for details )

'Third Party' payments to other financial institutions not participating in the SCT scheme will continue to be processed through the existing domestic Credit Transfer scheme.

Note: Credits will no longer be posted to the beneficiary account on a non- business day.

For more information on SEPA please refer to the related information section at the top of the page.

Cut off times for 'Third Party' payments made via iBB effective from the 21st November 2011:

Debit Credit Timeframes
Your AIB ROI Accounts Third Party AIB Accounts
  • Value is given on the same day if the payment is made before 19.15
  • Payments made after 19.15 will be credited for value on the following business day.
Your AIB ROI Accounts Third Party - Other Bank Accounts within the ROI
  • Payments made after 05:00 and before 15:30 on a business day will be credited to the beneficiary financial institution on the following business day (Morning)
  • Payments made after 15:30 and before midnight on a business day will be credited to the beneficiary financial institution on the following business day (Afternoon)
  • Payments made after midnight and before 03:00 on a business day will be credited to the beneficiary financial institution that same business day (Afternoon)

Should you require further information, please do not hesitate to contact the iBB Operations Team.

Email: ibb.customer.support@aib.ie

Telephone: 0818 72 00 00 or +353 1 641 4889 (Outside RoI). Lines are open Monday to Friday 08.30 - 17.30 Irish Standard Time.

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