AIB International Transfer

Fees, Rates, Process, and Cheaper

TL;DR

Allied Irish Banks (AIB) is one of Ireland's largest financial institutions and offers international payment services through its Internet Banking platform, mobile app, and branch network. AIB's international transfer options include Paylink Euro for SEPA-zone euro transfers, standard Paylink for multi-currency transfers to most of the world, and InPay for receiving international payments. Fees for outgoing transfers are generally lower via Internet Banking than in-branch, but AIB's exchange rate markup which is not publicly disclosed with full transparency — adds additional cost beyond the stated transaction fee. For most personal international transfers, specialist online platforms such as Wise offer materially better exchange rates and lower total costs. This guide covers how AIB's international transfer system works, what it costs, how long transfers take, and when to consider alternatives.

Table of Contents

• How AIB International Transfers Work

• AIB International Transfer Products: Paylink and SEPA

• AIB International Transfer Fees and Exchange Rates

• How Long AIB International Transfers Take

• How to Make an AIB International Transfer Online

• Receiving an International Transfer with AIB

• AIB International Transfer vs. Specialist Platforms

• Frequently Asked Questions

How AIB International Transfers Work

Allied Irish Banks processes international payments through the SWIFT (Society for Worldwide Interbank Financial Telecommunication) network for most non-SEPA destinations, and through the SEPA (Single Euro Payments Area) framework for euro transfers to European destinations. SWIFT is the global standard for interbank communication, providing the messaging infrastructure through which banks around the world transmit payment instructions. A SWIFT transfer does not move money through SWIFT itself — SWIFT is a messaging network, not a funds transfer system — but it communicates the payment instructions between the sending and receiving banks, which then settle the actual funds through their correspondent banking relationships.

For customers sending euro to any country in the SEPA zone — which includes all EU member states plus Iceland, Liechtenstein, Norway, Switzerland, and several additional territories — AIB's Paylink Euro product processes the transfer as a SEPA Credit Transfer, which is subject to EU regulations requiring equivalent pricing between domestic and intra-EEA euro payments. This regulation, known as EU Regulation 2560, means AIB cannot charge more for a SEPA euro transfer to another EEA country than it charges for a domestic Irish euro transfer of the same amount. For transfers outside the SEPA zone, or for non-euro transfers, standard Paylink applies with its own fee schedule.

AIB International Transfer Products: Paylink and SEPA

AIB's primary international payment product for personal customers is Paylink, which covers outgoing payments in all major currencies to most destinations worldwide. Paylink is available as a standard (non-urgent) transfer and as an urgent transfer, with different fee structures and processing timelines applying to each. Paylink Euro specifically handles euro-denominated transfers to SEPA-zone countries and is the cheapest outgoing transfer option for Irish customers sending euros within Europe.

For incoming international transfers, AIB distinguishes between InPay Euro (euro payments originating from a SEPA country) and InPay Global (non-SEPA origin or non-euro currency). Customers receiving international transfers should provide their full IBAN (International Bank Account Number) and AIB's BIC (Bank Identifier Code, also known as SWIFT code) to the sender. These two pieces of information are sufficient for the sender's bank to direct the funds correctly to an AIB account. The IBAN and BIC are available on any AIB account statement and through the Internet Banking platform under account details.

For business customers, AIB also offers the iBB (Internet Business Banking) platform with additional international payment functionality including batch payment processing and SEPA Direct Debit origination. The fee schedule for business international payments is governed by AIB's business fees and charges brochure, which is separate from the personal customer schedule.

AIB International Transfer Fees and Exchange Rates

AIB's fee structure for international transfers distinguishes between transactions made via Internet Banking and those made in-branch, with the Internet Banking channel consistently cheaper. AIB publishes a Schedule of International Transaction Charges that provides the applicable fees for each transaction type and currency direction. Customers are strongly advised to review this schedule directly on AIB's website before initiating a transfer, as the fee schedule is updated periodically.

The more significant — and less visible — cost component of any AIB international transfer that involves a currency conversion is the exchange rate markup. When AIB converts euros to British pounds sterling, US dollars, or any other currency for an outgoing transfer, it applies its own retail foreign exchange rate rather than the mid-market rate. AIB does not publicly disclose the exact margin it applies, but comparison analyses suggest the markup is typically 1.5% to 3% above the mid-market rate for major currency pairs. On a €1,000 transfer to the UK, a 2% exchange rate markup costs the equivalent of €20 in addition to the stated transaction fee

a cost that is invisible to the customer who only sees the transaction fee line.

For incoming international transfers in foreign currencies to a euro AIB account, the bank applies its own conversion rate to exchange the incoming foreign currency into euros before crediting the account. This rate is typically less favorable than the mid-market rate and is updated once per business day. Customers expecting a large incoming foreign currency transfer may benefit from asking AIB about branch-specific rates for amounts exceeding €70,000 (the standard online handling limit), as these may be negotiated.

How Long AIB International Transfers Take

Processing times for AIB international transfers depend on the destination, currency, transaction type, and the time of submission relative to AIB's cut-off times. For Paylink Euro standard transfers (SEPA) up to €10,000 submitted via Internet Banking before 2:00 PM on a business day, the beneficiary's bank is typically credited on the same business day. Urgent Paylink Euro transfers receive priority processing. For non-SEPA Paylink transfers or non-euro currency transfers, processing typically takes one to three business days depending on the destination country and the involvement of intermediary correspondent banks.

AIB publishes a list of cut-off times by currency on its website. Transfers submitted after the applicable cut-off time for the relevant currency and transaction type will be processed from the next business day, effectively adding one business day to the expected delivery timeline. For time-sensitive international payments, submitting before the morning cut-off time is advisable. Holiday periods affect both AIB's processing schedule and correspondent bank processing in destination countries, and senders should account for public holidays in both sending and receiving countries when estimating delivery times.

How to Make an AIB International Transfer Online

Making an international transfer via AIB Internet Banking requires the sender to be registered for Internet Banking and to have a card reader for transaction authentication. The process begins by logging into the AIB Internet Banking platform or mobile app. From the main menu, the customer selects Pay and Transfer, then navigates to International Payments. A new payee is set up by entering the recipient's full name, the destination country, and the recipient's bank account details — which for SEPA-zone transfers requires the recipient's IBAN, and for non-SEPA transfers typically requires the recipient's IBAN or account number, the recipient bank's BIC or SWIFT code, and the bank's name and address.

Once the payee is established, the sender specifies the payment amount and currency, selects standard or urgent processing, and reviews the applicable fee and exchange rate. At this stage, reviewing the quoted exchange rate against the mid-market rate on a currency comparison site is recommended — this takes approximately 30 seconds and provides clarity on the true cost of the conversion. After confirming the payment details, the transaction is authenticated using the AIB card reader and submitted for processing. The payee details are saved for future use, streamlining subsequent transfers to the same beneficiary.

Receiving an International Transfer with AIB

To receive an international transfer to your AIB account, you provide your IBAN and BIC to the sending party. Your AIB IBAN consists of the Irish country code (IE), two check digits, and a 22-character bank and account identifier string. This information is available on your account statement, in the Internet Banking platform under account details, and in the AIB mobile app. For payments in foreign currencies, AIB converts the received funds into euros at the prevailing AIB exchange rate before crediting your account. The general limit for receiving international transfers online is the equivalent of €70,000 — transfers above this amount require direct engagement with an AIB branch.

AIB International Transfer vs. Specialist Platforms

For many common international transfer use cases — particularly personal remittances, regular overseas payments, and transfers to the UK, US, Europe, or Australia — specialist online money transfer platforms offer a demonstrably better value proposition than AIB's standard international transfer service. The primary advantage of platforms like Wise is the exchange rate: Wise uses the mid-market rate with a transparent percentage fee, while AIB uses a retail rate with an undisclosed markup. On a €1,000 transfer to the UK, the difference in total cost between AIB and Wise can be €15 to €30 depending on the prevailing spread, representing a meaningful saving for regular senders.

The scenarios where AIB's international transfer service has advantages are limited but genuine. For very large transfers where relationship banking and institutional regulatory standing provide operational certainty, or for cases where the recipient's bank relationship with AIB through correspondent banking creates processing advantages, the bank channel may be preferable. For urgent SEPA transfers within the eurozone where AIB's same-day processing on standard transfers is already competitive with platform processing speeds, the cost differential may not justify switching providers. For all other personal international transfer needs, comparing AIB's total cost — fee plus exchange rate impact — against specialist platform equivalents before sending is sound financial practice.

Frequently Asked Questions

How do I make an international transfer with AIB?

Log into AIB Internet Banking or the mobile app, select Pay and Transfer, then International Payments. Set up the recipient by entering their name, destination country, and IBAN and BIC details. Specify the amount and currency, review the fee and exchange rate, authenticate with your card reader, and submit. Payments can also be made at an AIB branch, though this option is more expensive than the online channel.

What are AIB's international transfer fees?

AIB's fees vary by transaction type, currency, and submission channel (online vs. branch). The full Schedule of International Transaction Charges is published on AIB's website and should be checked directly for current rates, as they are updated periodically. Online transfers are consistently cheaper than branch-processed transfers. Note that exchange rate markups apply to currency conversions in addition to the stated transaction fee.

How long does an AIB international transfer take?

SEPA euro transfers up to €10,000 submitted before 2:00 PM on a business day are typically credited on the same day. Non-SEPA or non-euro transfers generally take one to three business days. Urgent transfer options are available for faster processing at an additional fee. Transfers submitted after the applicable cut-off time are processed from the next business day.

What is AIB's IBAN and BIC?

Your personal AIB IBAN is the account identifier required for incoming international transfers. It begins with the Irish country code IE followed by check digits and your account's bank and branch code and account number in a standardized format. AIB's BIC (Bank Identifier Code) for SWIFT transfers is AIBKIE2D for the Republic of Ireland and AIBKGB2L for AIB (GB) in the United Kingdom. Your IBAN is available on your account statement and in Internet Banking under account details.

Is AIB or Wise cheaper for international transfers?

For most personal international transfers involving currency conversion, Wise offers better exchange rates and typically lower total costs than AIB. Wise uses the mid-market exchange rate with a transparent low fee, while AIB applies a retail exchange rate with an undisclosed margin. For large transfers or frequent senders, the cumulative saving from using Wise over AIB for currency conversions can be substantial. For euro SEPA transfers within the eurozone where no currency conversion is involved, the cost differential is smaller.