Online Savings - Important Information
Information about your Distance Contract
European Communities (Distance Marketing of Consumer Financial Services) Regulations 2004
About Us
We are Allied Irish Banks, p.l.c. whose principal business is the provision of financial services. Our registered office is at Bankcentre, Ballsbridge, Dublin 4. We are registered at the Companies Registration Office, Dublin. Our registered number is 24173. Our VAT number is IE8E86432H.
We are regulated by the Central Bank of Ireland.
About Our Personal Savings Plan Accounts
The Personal Savings Plan Account is a deposit account to which you must lodge at least EUR20 but not more than EUR1000 each month. We will pay you interest on the daily balance in the account. You can withdraw money from the account at any time. We will pay you an incremental interest bonus over a 5 year cycle if you keep up your regular monthly lodgments and make no more than one withdrawal each year. Variations of this product exist where you are permitted to make more than one withdrawal in a year and still be eligible for a bonus. We will pay the interest into the account once a year in April.
The Personal Savings Plan is subject to terms and conditions.
Tax on interest earned on all types of account
We will deduct Deposit Interest Retention Tax (DIRT) at the prevailing rate from all interest earned, unless you are entitled to exemption from DIRT, and we will pay this directly to the Revenue Commissioners.
To the extent that DIRT has been deducted there is no further liability to Irish income tax, but you may be subject to PRSI/Health levy.
The Bank will deduct DIRT from the accounts of non-residents unless a fully completed non-resident declaration form is held by the Bank and a minimum balance of EUR12,500.00 is maintained at all times in each account maintained by the non-resident.
If you or your spouse are aged 65 or over in the current tax year, or are permanently incapacitated, and you are exempt from income tax, you may apply to have the interest on the account paid without deduction of DIRT.
Cancellation
You have the right to cancel the agreement without penalty within 14 days of your receiving a copy of the terms and conditions of the account by writing to the Manager of the branch where you keep your account, quoting details of the account.
If you cancel or terminate the agreement we will pay you interest on the money you have deposited up to the date you withdraw it.
If you do not exercise your right of cancellation, the terms of the agreement will continue to apply.
Early Termination
You can close the account at any time subject to the notice period or the term of the account, where applicable. We can close the account by giving you 28 days notice coinciding with the notice period or maturity of the term of the account, subject to any right we may have to set off the money in the account against any money you may owe us.
General
The agreement will be governed by the laws of Ireland and the Courts of Ireland will have exclusive jurisdiction to resolve any disputes.
The agreement and all information and communication with you will be in English.
What to do if you have a complaint
In the event that you wish to make a complaint you may do so by writing to our Customer Support Centre at AIB Bankcentre, Ballsbridge, Dublin 4. If you are still not satisfied you are entitled to take your complaint to the Financial Services Ombudsman, 3rd Floor, Lincoln House, Lincoln Place, Dublin 2.