Payments Enhancements 2019

 

We are currently in the process of upgrading our payment engine. This will generate a number of enhancements that you may see. The changes will be introduced on a phased basis.

 

What is changing?

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    Payment Reference

    The payment fee for Outgoing International Payments will now be posted separately on your statement. The AIB payment reference will appear as IEXXXXXXXXXXXXXX

    L1: IEXXXXXXXXXXXXXX     0.00 (Payment Amount)

    L2: Debit narrative

    L1: IEXXXXXXXXXXXXXX     0.00 (Payment Fee)

    L2: PYMT FEE ***

     

    This change will be introduced on a phased basis from November 2018 to February 2019

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    USD, GBP, EURO and CAD Next Day Value for Paylink Standard option

    The Standard Paylink option selected for the following currencies USD, GBP, EURO and CAD, will arrive with the beneficiary bank in 1 business day instead of 2 business days, once processed within cut off times.

    This will be updated in our Schedule of International Transaction Charges brochure available in January 2019.

     

    This change will be introduced on a phased basis from November 2018 to February 2019

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    SEPA Credit Transfer (SCT) File Block Status

    There has been amendments to SEPA Credit Transfer (SCT) Block Status, due to an upgrade in our payment engine some status will no longer occur. Please refer to the iBB Payment File User Guide to view all block file status.

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Payments made via the Branch

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    Paper Same Day Value Payment option via the Branch merging with Paper Paylink Euro

    From 15th January 2019, the Same Day Value paper payment option completed via the branch will no longer be available. Instead, the Paylink EURO paper option can be used to avail of a Same Day Value EURO Payment via the branch.

    This will be updated in our Business Fees and Charges brochure in January 2019.

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    Paylink/Paylink EURO Forms

    We have made some amendments to the wording in our forms to assist you in completing them, and have also indicated any mandatory fields with an asterisk.

    The updated Paylink and Paylink EURO forms will be available in branches and on www.aib.ie from the 15th January 2019.

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    Payment Advices for Payments made via the branch

    Paper Payment advices will no longer be generated for paper Payments made via the branch. If you require a Paper Advice, please contact your branch.

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    Transaction Fee

    From mid- January 2019, if you make an International Payment via the branch, you will be charged a Paper/Staff Assisted Transaction Fee, as outlined in our ‘Business Fees and Charges’ brochure available on www.aib.ie. While we may not have applied the full charge to your account in the past, we will do from mid - January 2019.

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Multi-Currency Payment File (MCY)

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    Payment Reference

    The payment fee for Outgoing International Payments will now be posted separately on your account. The AIB payment reference will appear as IEXXXXXXXXXXXXXX

    L1: IEXXXXXXXXXXXXXX     0.00   (Payment Amount)

    L2: END TO END ID

    L1: IEXXXXXXXXXXXXXX     0.00   (Payment Fee)

    L2: PYMT FEE ***

     

    This change will be introduced on a phased basis from January 2019

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    USD, GBP, EURO and CAD Next Day Value for Standard option within an MCY file

    USD, GBP, EURO and CAD currency payments that are included as part of an MCY Bulk file will arrive with the beneficiary bank in 1 business day instead of 2 business days, once processed within cut off time.

    This will be updated in our Schedule of International Transaction Charges brochure available in January 2019.

     

    This change will be introduced on a phased basis from January 2019

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    MCY Cut Off

    From mid-January 2019, we are introducing a new cut-off time for Multi-Currency (MCY) Bulk Payment Files. The cut off time will now be extended from 2pm to 3pm.

    Bulk MCY Payment files must be uploaded and authorised before 3.00pm in order to be processed the same day, files authorised after cut off time will be processed the next business day.

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    MCY EURO Payments to SEPA Reachable Countries from EURO Currency Accounts (NSC930067)

    If you make a non – urgent EURO Payment debiting a EURO Currency Account (NSC 930067) to a SEPA reachable country, this payment will now be sent as a SEPA Payment and standard AIB Currency Account transaction charges will apply.

    Please refer to the Schedule of Currency Account Transaction Fees & Charges (NSC 93-00-67 ONLY) section within ‘A Guide to Currency Accounts’ for all Transaction charges available here.

     

    This change will be introduced on a phased basis from January 2019

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    MCY Payment Advices

    Paper Payment advices will no longer be generated.  This information is available within the File Management section on iBB. Please refer to the iBB Payment File User Guide for more Information.

     

    This change will be introduced on a phased basis from January 2019.

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Autorec

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    Payment Reference

     

    The payment fee for Outgoing International Payments will now be posted separately on your account. The AIB payment reference will appear as IEXXXXXXXXXXXXXX

    L1: IEXXXXXXXXXXXXXX     0.00   (Payment Amount)

    L2: Debit narrative

    L1: IEXXXXXXXXXXXXXX     0.00   (Payment Fee)

    L2: PYMT FEE ***

     

    This change will be introduced on a phased basis from November 2018 to February 2019

     

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You must always ensure you have cleared funds before submitting payments.

 

As a result of the above changes, a number of documents including Brochures, iBB User Guides and File Specifications will be amended on a phased basis as the relevant changes are implemented. The current versions are available below.