AIB broker Accounts

aib Account Types & Opening Guide 2025: Complete Comparison and Registration Steps

Part 1: aib Account Types Overview

aib Account Types Explained

Allied Irish Banks (AIB) offers a variety of account types tailored to meet the needs of different customers, including personal, business, and specialized accounts. Below is a detailed overview of the available account types:

1. Personal Current Account

• Minimum Deposit Requirement: No minimum deposit required.
• Spread/Commission Structure: No monthly fees; transaction fees may apply.
• Leverage Options: Not applicable for personal accounts.
• Key Features: Online banking, mobile banking app, debit card access, and international payment capabilities.
• Target User Profile: Individuals managing everyday banking needs.
• Trading Instruments Available: Not applicable.

1. AIB Student Account

• Minimum Deposit Requirement: No minimum deposit required.
• Spread/Commission Structure: No monthly fees; transaction fees may apply.
• Leverage Options: Not applicable.
• Key Features: Designed for second-level students, offering flexibility and ease of access.
• Target User Profile: Students managing finances while studying.
• Trading Instruments Available: Not applicable.

1. AIB Graduate Account

• Minimum Deposit Requirement: No minimum deposit required.
• Spread/Commission Structure: No monthly fees; transaction fees may apply.
• Leverage Options: Not applicable.
• Key Features: Tailored for recent graduates transitioning to work.
• Target User Profile: New graduates managing their finances.
• Trading Instruments Available: Not applicable.

1. AIB Basic Bank Account

• Minimum Deposit Requirement: No minimum deposit required.
• Spread/Commission Structure: No monthly fees; limited transaction capabilities.
• Leverage Options: Not applicable.
• Key Features: Focuses on essential banking services.
• Target User Profile: Individuals needing basic banking services.
• Trading Instruments Available: Not applicable.

1. AIB Advantage Account

• Minimum Deposit Requirement: No minimum deposit required.
• Spread/Commission Structure: No monthly fees for customers aged 66 or over.
• Leverage Options: Not applicable.
• Key Features: Designed for seniors, offering easy access and no fees.
• Target User Profile: Older adults managing their finances.
• Trading Instruments Available: Not applicable.

1. AIB Business Current Account

• Minimum Deposit Requirement: No minimum deposit required.
• Spread/Commission Structure: Transaction fees may apply.
• Leverage Options: Not applicable.
• Key Features: Tailored for businesses, providing detailed transaction records and online banking.
• Target User Profile: Business owners managing business finances.
• Trading Instruments Available: Not applicable.

1. AIB Business Start-up Current Account

• Minimum Deposit Requirement: No minimum deposit required.
• Spread/Commission Structure: No maintenance fees for the first two years.
• Leverage Options: Not applicable.
• Key Features: Designed for start-ups, offering fee waivers for the first two years.
• Target User Profile: New business owners.
• Trading Instruments Available: Not applicable.

1. Young Farmer Current Account

• Minimum Deposit Requirement: No minimum deposit required.
• Spread/Commission Structure: Transaction fees may apply.
• Leverage Options: Not applicable.
• Key Features: Tailored for young farmers to manage agricultural finances.
• Target User Profile: Farmers aged 18-40.
• Trading Instruments Available: Not applicable.

Recommended Account Types by Trader Level

• Beginners: AIB Personal Current Account, AIB Student Account
• Intermediate Users: AIB Graduate Account, AIB Basic Bank Account
• Advanced Users: AIB Business Current Account, AIB Business Start-up Current Account

Part 2: aib Account Features Comparison

Detailed aib Account Features

Advantages and Disadvantages of Each Account Type

• Personal Current Account

• Advantages: No fees, easy online access, mobile banking.

• Disadvantages: Limited features for investment or trading.

• AIB Student Account

• Advantages: No fees, tailored for students, easy access.

• Disadvantages: Limited features for non-student users.

• AIB Graduate Account

• Advantages: No fees, designed for recent graduates.

• Disadvantages: Limited to graduates only.

• AIB Basic Bank Account

• Advantages: Focus on essential services, no fees.

• Disadvantages: Limited transaction capabilities.

• AIB Advantage Account

• Advantages: No fees for seniors, easy access.

• Disadvantages: Limited to older adults.

• AIB Business Current Account

• Advantages: Detailed transaction records, online banking.

• Disadvantages: Transaction fees may apply.

• AIB Business Start-up Current Account

• Advantages: Fee waivers for start-ups, tailored services.

• Disadvantages: Limited to businesses in the first two years.

• Young Farmer Current Account

• Advantages: Tailored for young farmers, easy financial management.

• Disadvantages: Limited to specific age group.

Part 3: aib Account Opening Requirements

aib Account Registration Requirements

• Eligibility Criteria:

• Age Requirements: Must be at least 16 years old for personal accounts.

• Geographic Restrictions: Must reside in the Republic of Ireland or Northern Ireland.

• Prohibited Countries: Specific countries may be restricted; check with AIB for details.

• Identity Verification Documents Needed:

• Valid photographic ID (passport, driver's license).

• Proof of address (utility bill, bank statement).

• Proof of Residence Requirements:

• Recent utility bill or bank statement showing your name and address.

• Additional Documentation for Professional Accounts:

• Business registration documents for business accounts.

• KYC/AML Compliance Procedures:

• AIB follows Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations, requiring verification of identity and source of funds.

• Verification Time Frames:

• Account verification typically takes 1-3 business days.

Part 4: aib Account Opening Process

Step-by-Step aib Account Opening Guide

1. Visit Website and Click Registration: Go to the AIB website or download the AIB Mobile Banking app.
2. Personal Information Entry: Fill in your personal details including name, address, and contact information.
3. Choose Account Type: Select the type of account you wish to open.
4. Set Trading Preferences: If applicable, set your trading preferences.
5. Document Upload: Upload required identification and proof of address.
6. Account Verification: AIB will verify your documents and information.
7. Fund Your Account: Once verified, fund your account using available methods.
8. Start Trading: Access your account and begin using it for transactions or trading.

• Desktop vs Mobile Registration Differences: The mobile app may offer a more streamlined process with features like video verification.
• Common Registration Issues and Solutions: Issues may include document rejection; ensure all documents are clear and meet requirements.
• Average Account Approval Time: Typically 1-3 business days.
• How to Upgrade/Downgrade Account Types: Contact AIB customer service or use the app to request changes.

Part 5: aib Demo Account Information

aib Demo Account Guide

• Demo Account Features and Benefits:

• Allows users to practice trading without financial risk.

• Access to a virtual trading environment with real market conditions.

• How to Open a Demo Account:

• Visit the AIB website or app, select the demo account option, and follow the registration steps.

• Demo Account Limitations:

• Limited to virtual funds; cannot be used for real trading.

• Virtual Balance Amount:

• Typically set at a predefined amount (e.g., €10,000).

• Demo vs Live Account Differences:

• Demo accounts use virtual funds, while live accounts involve real money.

• Duration/Expiry of Demo Accounts:

• Demo accounts may expire after a set period (e.g., 30 days) unless extended.

Part 6: aib Islamic Account (if available)

aib Islamic Account Details

• Swap-free/Islamic Account Availability:

• AIB does not currently offer Islamic accounts.

• Eligibility Requirements:

• Not applicable as Islamic accounts are not available.

• Differences from Standard Accounts:

• Not applicable.

• How to Apply for Islamic Account:

• Not applicable.

• Restrictions or Special Conditions:

• Not applicable.

FAQs – aib Account Types & Opening

1. What account types does aib offer？

• AIB offers Personal Current Accounts, Student Accounts, Graduate Accounts, Basic Bank Accounts, Advantage Accounts, Business Current Accounts, Business Start-up Accounts, and Young Farmer Accounts.

1. What is the minimum deposit for each account type？

• There is no minimum deposit required for any of the account types.

1. How long does aib account verification take？

• Account verification typically takes 1-3 business days.

1. Does aib offer demo accounts？

• Yes, AIB offers demo accounts for practice trading.

1. Can I have multiple account types with aib？

• Yes, customers can hold multiple account types.

1. Does aib offer Islamic/swap-free accounts？

• No, AIB does not currently offer Islamic accounts.

1. What documents do I need to open a aib account？

• You need a valid photographic ID and proof of address.

1. Can I change my account type after registration？

• Yes, you can request to change your account type through AIB customer service or the app.