Bank of Ireland large transfers: Limits, times and how to do it
Read on how you can make large transfers with the Bank of Ireland, including limits and transfer times.
AIB large transfer: Limits, cut of times and how to do it
There are lots of reasons why you might need to send a large amount of money. Maybe it’s a new car that you’ve saved up to buy, a purchase for the family or even a deposit on a home. Whatever the case, you’ll need a financial service capable of sending large amounts in a timely and cost effective manner.
We’re going to take a look at one of Ireland's major banks, AIB, and see how they handle large transfers including the process and limits. We’ll also let you know about Wise high amount transfers as a useful option, and how you can benefit from higher limits and the mid-market exchange rate.
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Can I transfer large amounts with AIB?
Unfortunately, AIB doesn’t allow you to do larger transfers yourself, setting maximum transfer limits that apply to phone and internet banking, and vary depending on the type of transaction.
This means you need to visit a branch and request the transfer is done through a customer service agent or you can print a form and mail it to your account holding branch for the payment to be processed.
What are AIB transfer limits?
As stated before, there are set AIB daily transfer limits that apply to phone and internet banking. What exactly the limit is depends on the transaction type, and keep in there’s an overall cumulative limit of €1,050,000 which applies to these types of transaction.¹
| Transaction Type | AIB Daily Limit for Personal Customers |
|---|---|
| AIB Mobile Top Up | €50 |
| Send money to new new payee via the AIB Mobile App | €1,000 |
| Send money to new new payee via the AIB Mobile App as a Selfie Check user | €10,000 |
| Other Money Transfers (Payments within Ireland and SEPA zone) | €10,000 |
| International Payments (non SEPA) | €10,000 |
| Bill Payment | €10,000 |
| Transfers between your nominated AIB accounts | €1,050,000 |
The AIB in branch transfer limit isn’t published on their website so it’s best to call customer service or visit one of their locations in person to find out.
How long does it take to transfer large amounts with AIB? ⏰
The AIB bank transfer times vary depending on where you’re sending the money to.
| Payment Type | Timeframe |
|---|---|
| Domestic transfer between your AIB accounts² | Immediately |
| Domestic transfer to another ROI account at AIB² | Immediately |
| Domestic transfer to a non-AIB ROI account ² | Same business day when sent before 2.00pm Next business day if sent after 2.00pm |
| International Euro payments to SEPA country³ | Same business day when sent before 2.00pm Next business day if sent after 2.00pm |
| Other international payments³ | Varies subject to currency, destination, cut-off times and if it’s standard or urgent |
Wise: Transfer large amounts without hidden fees
If you need to send a large transfer and for whatever reason it seems AIB isn’t the best way to go, so you can consider using Wise instead. With Wise, the limits are way higher:
To Euro: You can send up to 6 million EUR per transfer.
From Euro: up to 1.2 million EUR per transfer if you pay by bank transfer.
Wise also has dedicated support to help with large transfers information, and you can track your transfer every step of the way.
If you’re sending or receiving a large transfer abroad the fees on that can play a huge part in determining who to use. Wise has no hidden fees with the rates and timeframes freely available online or through the app or website.
Wise offers another amazing thing: Where a currency conversion is involved, Wise uses the mid-market rate (the same you normally see on Google). This is the midway point between the buy and sell price on the currency market, making fair - no hidden margins or markups to worry about.
To complete a large money transfer with Wise simply create a free account and follow the prompts to set-up and complete the transfer.
The transfer of the high amounts with Wise is subject to internal reviews and provision of additional documentation by the customer, when requested.
How to transfer large amount of money with AIB
If you need to transfer more than €10,000 you’ll need to put in a request for AIB to process it. There are two ways you can go about doing this.
- Visit an AIB branch in person and request assistance completing the transfer. For the transfer to be completed you must provide a valid form of photo ID.
- Print off the Paylink form, complete it and mail it to your account holding branch for the payment to be processed.
Regardless of which method you choose, you’ll want to have this information on hand.
- Sender name and bank details
- Recipient’s name, address and bank details
- Payment information including amount and currency
You’ll also likely be asked why you’re making the transfer and what the money's for.
Sources used:
- AIB - Transaction Limit Information
- AIB - Internet Banking Domestic Payment cut off times
- AIB - International Payments FAQ
Sources last checked on date: 11 December 2024
*Please see terms of use and product availability for your region or visit Wise fees and pricing for the most up to date pricing and fee information.
This publication is provided for general information purposes and does not constitute legal, tax or other professional advice from Wise Payments Limited or its subsidiaries and its affiliates, and it is not intended as a substitute for obtaining advice from a financial advisor or any other professional.
We make no representations, warranties or guarantees, whether expressed or implied, that the content in the publication is accurate, complete or up to date.
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