Hi all,
I want to one of these fixed-term deposit account with AIB, but as I may be buying a house during the term, I want to be sure that I can access my funds if needed. On the webpage describing the account,
aib.ie
it alludes in a vague way to the possible of withdrawing funds early.
"You can let us know what you’d like to do with your money at maturity (when the term ends) when you open an account, or at any time during the term up to the business day before maturity. You can choose one of the following instructions:
Reinvest the full amount and the interest earned, or
Take out some of the money and reinvest the rest, or
Take out all the money and close the account"
So I called them up to clarify. Firstly, the AIB customer care person said I'd need to go to the branch in order to withdraw early. Then I asked can I withdraw funds, and can you provide some written statement on this. Then AIB customer care person then said flatly that you have to leave funds in for the full term. I asked for the T&A for the account and was told they couldn't provide this. Usually with Irish term deposits there is a possibility to withdraw funds with some sort of penalty clause. Has anyone managed to clarify this for the fixed-term deposit account with AIB?
Thanks