Paypath

PayPath is the electronic way through which wages/salaries may be paid directly into employees' bank or building society accounts in the Republic of Ireland.*

How Paypath works:

• You can transmit your PayPath file via iBusiness Banking
• The cost of PayPath transactions is as follows: 5c per transaction or a minimum of EUR6.35 per month
• Payment cycle by iBusiness Banking covers two working days
  Day 1: Deadline for transmission to AIB  is 14.00 the day prior to payment date
  Day 2: Entries passed to both Company and Employees Accounts

Benefits of PayPath:

For the Employer

• More cost effective than issuing cheques or cash
• A secure and efficient means to pay wages and salaries, with the added benefit of not having the need to carry large amounts of cash
• Convenient - all payments are made at the same time
• Improved cashflow management
• Account reconciliation is reduced

For the Employee

• Employees can access their pay from 7.00am on pay-day at ATMs*
• Pay is automatically lodged even if the employee is sick or on holidays
• Reduced security risk

*Please note that it may take longer to process payments to certain building society accounts

Your next steps will involve:

• Check that your Payroll System has a PayPath option
• Contact your relationship manager to find out more about Paypath

Please note that prior to going live on Paypath, iBusiness Banking will need to be activated

Important / Regulatory Notice

Terms and conditions apply.

• Terms and Conditions for Current Accounts and Demand Deposit Accounts

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