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What happens to the AIB Current Account's maintenance fee when the account balance reach €0?

  • 26-12-2021 06:20PM
    #1
    Agondonter
    Registered Users, Registered Users 2 Posts: 5 ✭Agondonter


    Hello dear Boards.IE community.

    I have one very simple question:

    What happens to the AIB Current Account's maintenance fee (€10~€11 quarterly) when the account balance reach €0? Is the unpaid fees going to accumulate over time, if the balance keep staying at €0?

    I couldn't find the answer on the "AIB Current Account Fee FAQs" page.

    I apologize for posting that question here, but the relevant AIB forum is not working:

    https://www.boards.ie/discussion/2056673315/bank-of-ireland-kbc-or-aib-query-talk-to-them-directly

    Thank you very much!

    I'm feeling very uncomfortable, asking that question some AIB representative over the phone.

    Tagged:


Best Answers

  • #1
    landofthetree
    Registered Users, Registered Users 2 Posts: 2,479 ✭✭✭landofthetree


    Where your Account has become inactive, we may close it by giving you at least two months’ notice. 

    We will normally consider that an Account has become inactive if the balance is less than €100 and you have not used it for 12 months.


    In the terms and conditions.


    I would argue this is actually against EU law. You actually have a right to a bank account and just because you're poor doesn't mean they have a right to shut your account down.



  • #1
    28064212
    Registered Users, Registered Users 2 Posts: 11,115 ✭✭✭✭28064212


    AIB's maintenance fee is €4.50 per quarter. I see no mention of a minimum balance requirement, so they will likely charge it regardless of the current balance. It's possible there will be additional fees attached to allowing your account to go into a negative balance - read the T&Cs that you agreed to.

    Also note that the "inactive account" clause is entirely at AIB's discretion - "...we may close it...". They aren't required to automatically close it.

    If you don't intend to use the account, close it. If you need a long-term no-fee account, open one that doesn't have a regular maintenance fee attached.

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  • #1
    [Deleted User]
    Posts: 870 ✭✭✭ [Deleted User]


    What happens is that the bank will write to you telling you that your account has been inactive and is racking up fees. They'll ask you to contact them by X if you want to keep it, otherwise they'll close it.



  • #1
    Cataleya Plump Wildflower
    Posts: 7,522 ✭✭✭ Cataleya Plump Wildflower


    https://www.boards.ie/discussion/comment/118377570#Comment_118377570

    They’ll take the payment and leave you overdrawn, close the account if you don’t clear the negative balance, perhaps will seek it back (unlikely, it’s not worth the effort for a couple quid).

    and if you try to open another account they’ll need you to pay off what’s owed first.

    i have an old AIB account, which is closed, with an OD balance of like €80. They sent a few reminders and that’s about the long and short.

    you won’t have a debt collector round your house (maybe in the UK, but not for anything less than a couple thousand these guys aren’t free either) and it won’t affect your credit score. Scaremongering at best.

    To summarise, nothing really happens but if you want to open an AIB account (or indeed use any AIB product) in future you’ll need to clear the old overdrawn amount first.



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