Making and receiving payments
Payments made simple. We offer a range of methods to make and receive payments.
Depending on the type of account you hold or electronic banking service you use, fees and charges may apply. Please refer to the fees and charges for business customers, personal customers, private customers and iBB customers for more details.
Faster Payments
The Faster Payments Service allows customers to make fast and low cost electronic payments or transfers using Online Services or iBB.
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How it works
- Customers can initiate these one-off payments using Online and Phoneline Banking. Business customers can also use Internet Business Banking (iBB) to initiate these payments.
- Single immediate payments can be sent between 7:00am and 12:00am (Midnight) 365 days a year.
- The money is usually available in the receiving customer's account within two hours, but no later than the next Banking day.
- Transaction limits apply. Click here for the Online Services transactions limits. iBB customers will have their limits agreed with their Relationship Manager.
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Benefits
- Faster Payments is a fast and low cost way of sending money to other UK banks and building societies.
- Convenient and secure way of transferring money.
- Funds are available as soon as they credit your account, no need for it to ‘clear’
Standing orders
With a standing order you can automatically pay your regular, fixed amount bills directly from your account.
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How it Works
- A standing order enables you to instruct the bank to automatically pay money from your account to another account either held by you or a third party, for a fixed amount and at regular intervals.
- Payments can be made weekly, fortnightly, monthly, bi-monthly, quarterly, half-yearly or annually, depending on your needs.
- Standing orders can be created, amended and cancelled using Online Banking.
- You can lodge cleared funds to your account up to 2:00pm* to cover any standing orders due that day.
*12pm on Christmas Eve, provided it is a Banking day.
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Benefits
- You control the amount and date of the payment and the Bank processes the transaction on your behalf.
- A standing order means you don't have to worry about missing your regular payment dates - your standing order will automatically be sent on the specified date.
- Paying bills with a standing order is more cost effective than other methods of payment, such as cheques. It also saves you time and effort in tracking payment due dates.
CHAPS payments service
CHAPS payments offer a speedy and secure way of sending sterling payments electronically so that they arrive with your payee on the same day.
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How CHAPS Works
- Usually used for high value transactions.
- Payments for same day value can be made up until 5:25pm using iBB, on banking days only.
- Ability to include additional information with the payment e.g. an address in the case of conveyance payments.
- Avoids use of cash, cheques and sending paper through the clearing system.
- Incoming payments can be received until 6.20pm.
- There is also a cost if you receive a CHAPS payment. For more details, please refer to the fees and charges for business customers, personal customers and private customers.
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Benefits
- Payments can be instructed by letter or, for business customers, via iBB.
- Convenient and secure way of transferring money.
- Funds are received on the same day provided the payment is made before the cut off time as detailed above.
- Funds are available as soon as they credit your account, no need for it to ‘clear’.
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CHAPS Fees
- There is a cost for making a CHAPS payment via iBB. For more details, please refer to the fees and charges for business customers, personal customers, private customers and iBB customers.
- There is also a cost if you receive a CHAPS payment. For more details, please refer to the fees and charges for business customers, personal customers and private customers.
Direct debit payments
Paying your regular bills with direct debits is an efficient and easy way of taking care of your regular payments.
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How it Works
- A direct debit is an agreement whereby the company you are paying is authorised to collect payments from your account with your consent. The appropriate amount is debited from your account on the due date as notified in advance.
- It cannot be collected without your prior consent. This can either be in writing by completing a direct debit instruction, over the telephone or internet.
- You can cancel a direct debit by giving prior written notice to the bank no later than the end of the banking day before the payment is due.
- You can lodge cleared funds to your account up to 2:00pm* to cover any direct debits due that day.
*12pm on Christmas Eve, provided it is a Banking day.
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Benefits
- Paying by direct debit is a simple, safe and convenient way of automatically paying your bills when they are due. With direct debits there's no need to worry about overlooking payment dates and missing key payments.
- The direct debit transaction is charged the automated transaction fee (for business customers only), which is cheaper than paying by cheque or cash. You may also find that the company you are paying offers an incentive to pay by direct debit.
- Payments by direct debit appear on your bank statements, which facilitates record keeping and managing your cash flow.
Direct debit Guarantee
If any money is wrongly taken from your account under a direct debit then, as soon as we are told about it, we will refund your account. This protects you if a direct debit, which has not been authorised, is taken from your account. Similarly, where too much is taken, it is taken too early or it is taken after you have cancelled the direct debit, you will be protected. Cancellation of a direct debit should be made in writing simultaneously to the originator and to your Bank, giving seven days notice.
International payments
Make payments from your own accounts in all major currencies to most destinations worldwide.
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How it Works
- Make foreign currency payments to accounts with banks in the UK and abroad.
- Make payments in a range of currencies.
- Payments can be instructed by letter or, for business customers, via iBB.
- International payments can be made via iBusiness Banking (iBB) for our business customers or post to Allied Irish Bank (GB) 92 Ann Street, Belfast, BT1 3HH
- For more information, please visit our international payments page
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Benefits
- Convenient and secure way of transferring money internationally.
- When the funds are received depends on the currency and when you make this payment via iBB.
- Receive payments into your own accounts in all major currencies from most destinations worldwide.
- Funds are available as soon as they credit your account, no need for it to ‘clear’.
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International Payment Fees
- There is a cost for making an international payment via iBB. For more details, please refer to the fees and charges for international transactions and iBB customers.
- There is also a cost if you receive an international payment. For more details, please refer to the fees and charges for business customers, personal customers and private customers.
SEPA Payments and International Payments Explained
| Payment Type | Description | When to use | Fees and Charges |
SEPA Payment (Single Euro Payment Area) (SEPA form) |
This is a Euro payment made using the SEPA system Payments can take up to 2 working days to clear in the account | Any euro payment going to the SEPA Zone* can go as a SEPA payment Note: if the Bank you are paying is not part of the SEPA scheme you will need to do an international payment | See our fees & charges brochure |
International Payment (PayLink form) |
International Payment means transferring funds, in any currency, from or to an account to another account outside of the UK, or transferring funds from or to another account inside the UK in any currency other than Sterling. | For payment which includes a foreign currency. | See our fees & charges brochure |
*for SEPA Zone countries see ‘Where can I send SEPA credit transfer payment to’ on our International Payment Page.
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AIB Group (UK) p.l.c. is covered by the Financial Services Compensation Scheme, Financial Ombudsman Service and is a Registered Firm with The Lending Standards Board.
The AIB logo, Allied Irish Bank (GB) and Allied Irish Bank (GB) Savings Direct are trade marks used under licence by AIB Group (UK) p.l.c. incorporated in Northern Ireland. Registered Office 92 Ann Street, Belfast BT1 3HH. Registered Number NI018800. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.