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Cancelling/reducing an overdraft

06.10.2016 12:12 #1
Registered User
Hi Aib,

Can I cancel or reduce my overdraft facility through the aib app, I know how increasing an overdraft is fairly straightforward..

Also if I get rid of an overdraft now will it make it more difficult reinstate it if required at a later date.
06.10.2016 13:54 #2
Hi hooch-85, 

If you are registered for AIB Internet Banking you can apply to amend an existing overdraft online. This function is not available through the AIB Mobile Banking App. When you log into your Internet banking, please go to the ‘Apply & Open' section. Choose Overdraft from the drop down and complete the online application form. This Online overdraft application is available to sole active Personal Bank Account and AIB Advantage Account holders. 

Alternatively, you can apply to amend an existing overdraft by calling our Sales Team on 1890 724 724 (Mon to Fri 8am-9pm and Sat 9am-6pm) or pop into your local AIB branch.

You can terminate an overdraft at any time by notifying the AIB branch where you keep your account and by paying off any outstanding amounts. Your AIB branch may ask you to confirm your cancellation in writing to complete the cancellation process.

If you cancelled your overdraft and you then wish to re-apply, all applications are assessed on an individual basis. 

Thanks for getting in touch,
01.02.2018 13:08 #3
You can't. You can only close it or re structure it. Even if you have the money to reduce it, they won't if you were anyway reliant on the over draft over a year. I called them and they said. So I have to pay it off in full.
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