AIB Personal Loan

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eiregal

Registered User
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I recently changed my current account from AIB to PTSB to avail of free banking. I have an outstanding personal loan with AIB so I directed them to take their standing order from my new PTSB account. I did this a month ago and thought nothing else about it because they were ok with it. However, today I note that the AIB have taken their standing order from my old AIB account and when I rang them to inform them, they told me I had to keep my AIB current account open to service the loan. I cannot understand how I can 't simply pay from a PTSB current account. I was not told about this a month ago. The woman in the bank at the time was not too happy about me leaving AIB but did not mention once that I would have to keep my AIB current account open. Do I have to do this or can I insist that they take their monthly payments from my PTSB account?
 
I think what they are telling you is a load of crap. When you transferred to ptsb, did you not fill out a switcher form that should have allowed you to transfer dds and standing orders etc. to your new account?

Either way, unless the terms and conditions state otherwise (I would be really surprised if they do), I don't see how they can say that your repayments have to come from a certain bank account.
 
Thanks for the reply. Just what I thought, the woman in my local branch was talking cr*p. I rang AIB's head office to check out the situation and less than 10 minutes latter, the assistant manager of my local branch was on the phone to me confirm that what she had told me wasn't 'strictly true'. He has offered me free banking to stay with AIB so now I don't know what to do. On the one hand, their level of customer service is utterly inadequate but it might be best to stay on their good side as I'll be looking for a mortgage in about a year. What to do, what to do...
 
I wouldn't stay with them for the sake of getting a mortgage. Look at lenders that will give you the most competitive rate, not just those that are quickest to give you a mortgage. Interesting that they offered you free banking.

Never be afraid to second guess anyone when you feel that they're wrong.
 
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