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AIB current account question

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  • 01-04-2023 9:09am
    #1
    DopeTech
    Registered Users Posts: 6,767 ✭✭✭


    Background is I have a current account with AIB. I also have a mortgage with AIB and currently paying this from my AIB current account. I would like to switch all my daily banking over to Revolut but I see if I update my DD so the mortgage is paid from Revolut then I will lose my free fees benefit on the AIB account.

    My question is do AIB mind if you close the current account or is there a stipulation that you need to have one while you have a mortgage with them?



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    #2
    redlough
    Registered Users Posts: 862 ✭✭✭redlough


    https://www.boards.ie/discussion/2058290624/aib-current-account-question

    A lot of people keep the AIB account. Then when wages come in just transfer it directly out to Revolut and leave enough in the AIB account to cover the mortgage.

    You will find some issues still with revolut but they are disappearing.

    I kind of do a mixture, all my bills come out of AIB current account but my daily banking is done with revolut as I prefer the functionality etc



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    #3
    DopeTech
    Registered Users Posts: 6,767 ✭✭✭DopeTech


    https://www.boards.ie/discussion/comment/120426402#Comment_120426402

    Thanks redlough, I’m hoping just to have 1 account for simplicity sake. Would I be correct in saying it’s ok close the AIB current account and pay the mortgage from Revolut? They gave me an Irish Iban now so any LT discrimination issues should be a thing of the past. Is there any other issues that you found personally? I have Revolut for a good few years and use it now and again but haven’t been getting paid into it or pay any utility bills from it up to now.



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    #4
    G_R
    Moderators, Education Moderators Posts: 5,026 Mod ✭✭✭✭G_R


    The main issue with revolut is that their AML and CTF systems can be a bit trigger happy, and their default response is to block access to your accounts, and it's very difficult to speak with support.

    Since you have free banking with AIB I would keep it as an alternative or as somewhere to lodge cash/chq if you ever got one. Personally, as above my salary is paid to AIB and I transfer money to Revolut for day to day.

    Jowever to answer your question, no AIB have no requirement to keep a CA to have a mortgage.



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    #5
    DopeTech
    Registered Users Posts: 6,767 ✭✭✭DopeTech


    https://www.boards.ie/discussion/comment/120438006#Comment_120438006

    Thanks, yes I will keep aib as a backup.



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