AIB overpayment

M

misemoi

Registered User
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We just switched to AIB. I had read elsewhere on here that overpaying was a pain, with a manual payment required each month. I just called them and all I need to do is submit a letter requesting our requirements and they will amend the DD up to the level we need. Great to hear as I'm sure having to do it manually would have led to us skipping the overpayment some months.
 
Just make sure you are not contractually shortening the term (i.e that you can reduce repayments again at any stage you want)

AIB are fine to deal with in my experience - it's EBS that have an awkward process.
 
That's slightly different to making overpayments of random amounts and whenever you want, you're basically increasing the direct debit so they will take a set amount each month. If you wanted to skip a month though or reduce the overpayment in a particular month you would have to go back to them to change the direct debit again, not the same as ad hoc overpayments which I think are the ones that are not straightforward.
 
They confirmed it's not shortening the term. EBS had a similar set up. We don't plan to do ad hoc overpayments so this works for us.
 
OP, I am with AIB, via my online banking I set up standing order from my current account to my mortgage account. Every month AIB then send me a letter saying they received an out of course payment and which has been applied to my balance. Then my normal monthly amount reduces by a small amount. Every few months I increase the S/O amount to take account of the lower monthly mortgage payment.

The great thing is I am in full control so can stop, reduce or increase whenever I want and don't have to write letters etc, all done via online banking.
 
I had a very positive experience over paying via SO with Aib also. Zero hassle.
 
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