AIB SELECT FIXED TERM DEPOSIT ACCOUNT TERMS AND CONDITIONS

Transcription

1 AIB SELECT FIXED TERM DEPOSIT ACCOUNT TERMS AND CONDITIONS AIB600SFTFIN 03/15 Your agreement with us (Allied Irish Banks, p.l.c.) for your AIB Select Fixed Term Deposit Account (Account) consists of these terms and conditions (as changed from time to time in accordance with condition 14 below) and the following additional terms and conditions: any terms and conditions implied by law in the banker-customer relationship (except to the extent they conflict with these terms and conditions); the application form completed by you when applying for your Account (Application Form); all signing instructions in respect of your Account that you give us from time to time; and all other documents that are incorporated, either expressly or otherwise, into these terms and conditions or otherwise become part of our agreement with you. To the extent that there is any conflict between these terms and conditions and the provisions of the other documents, the provisions of the latter will prevail. Copies of these terms and conditions may be obtained from your branch or on our website, Please note that there may be alternative products which have different benefits, restrictions and/or cost or income options. If you want any further information please ask at any AIB branch. If you are under 18, you should ask your parent or guardian to read this agreement with you before opening your Account, and if you have any questions, we will be happy to discuss them with you in any of our branches. 1. Availability of the Account 1.1 The Account is available to you if you are a personal or business customer. 1.2 The Account is only available as a euro account. 1.3 You may not transfer ownership of your Account to anyone else and you may not use your Account as security for any borrowings or other liability unless we permit you to do so. 2. Opening your Account 2.1 Unless we already hold it, you must supply us with all necessary information and documentation to satisfy our obligation to identify you under legislation to combat money laundering and terrorist financing. We will advise you of our requirements at the time you seek to open your Account. 2.2 Your Account will not become operational until such time as we have received and approved this information and documentation. In advance of your Account becoming operational, you may not be able to make any lodgements to or withdrawals from your Account and interest will not be credited to your Account. 2.3 We may from time to time require you to update or supplement such information and documentation. If you fail to do so in the manner required by us, we may refuse to carry out any transactions in respect of your Account, suspend or close your Account. 2.4 We reserve the right to decline to open an Account. 3. Cooling Off 3.1 If you are a consumer and have opened your Account by any means of distance communication, for example by telephone, and are not happy with your Account, you have a 14 day period in which to contact us to cancel your Account. This period begins on the date your Account is opened, or the date you receive your terms and conditions and other account information, whichever is later. If you contact us within this period to cancel your Account, we will repay you any funds you have lodged but not any accrued interest. If you wish to cancel your Account, you may do so by writing to your branch. 4. Term of Your Account 4.1 Your Account will have an initial fixed term that you may choose from the options made available by us. The term will start on the Investment Date which is set out on the statement that we will issue when we receive your initial lodgement, and each time you reinvest funds for a further term. 4.2 If you wish to re-invest your funds at the end of the term (Maturity), you can choose your term from the options then made available by us. This further term will commence on the maturity of the previous term. 4.3 It is very important to be aware that if you do not give us any Maturity instructions, subject to condition 5.4 below, your funds will be automatically reinvested in your Account, at Maturity for a further term of the same duration or, at our discretion, a lesser duration at the prevailing rate. 5. Lodgements 5.1 If the term of your Account is greater than 1 week, you have 7 days from the date of Account opening to make a single lodgement to your Account. If the term of your Account is 1 week or less, you must make a single lodgement to your Account on the day it is opened. You must lodge the amount advised to us at Account opening. If you do not make a lodgement to your Account within the time periods specified, your Account will automatically close. Save as provided in condition 5.5 below, you may not make any additional lodgements to your Account. 5.2 We may request evidence of your identity when you are making a lodgement to your Account. 5.3 We may reverse any credit made to your Account if the amount is incorrect, or it is not paid or is recalled by the paying bank (including when we are the paying bank) or is returned by us due to mistake, fraud or the operation of any applicable clearing rules. We may make any necessary correcting entry on your Account without reference to you. We may also debit any applicable charge for dealing with incorrect, incomplete or other payment instructions of this type to your Account. 5.4 When you open your Account and at Maturity, you will need to be mindful of any minimum and/or maximum amount that may be lodged to your Account or any minimum and/or maximum balance required in order to re-invest for a further term, details of which will be available on our website, If you want to make an additional lodgement to your Account prior to Maturity, in accordance with condition 6.3 below, you should ensure that you allow sufficient time for such lodgement to go through the clearing process. For this reason, we will not accept certain Collectible Items that cannot clear within the additional lodgement period (such as international cheques, or a cheque lodged with insufficient time to clear). We recommend that you lodge any Collectible Items to your payment or another suitable account instead, in advance of Maturity in order to allow time for the lodgement to clear and make a transfer from your payment account to your Account. 5.6 Lodgement of cleared funds accepted to your Account prior to the applicable cut-off time on a Business Day are credited to your Account and shall accrue interest from the date of receipt of such funds. Lodgements of cleared funds posted after the daily cut-off time on any Business Day are deemed to have been received by us on the next Business Day. 5.7 Cut-off times for lodgements vary dependent on the type of payment you are instructing us to make and the method by which you instruct us. Depending on the instruction type and method, you can find the applicable cut-off time on AIB Internet Banking, via the AIB Phone Banking self-service facility or by asking an AIB Phone Banking customer service adviser; by looking at the applicable payment instruction form, on notices displayed in our branches; or on our website, for payments initiated through our ibusiness Banking (ibb) online service. 5.8 Notwithstanding any other provision in these terms and conditions, we may take whatever action we consider appropriate to meet our obligations, either in Ireland or elsewhere in the world, relating to the prevention of fraud, money laundering, or terrorism and to the provision of financial and other services to persons who may be subject to sanctions. This action may include, but is not limited to, investigating and intercepting payments into and out of your Account and making enquiries to establish whether a person is subject to sanctions. This may result in a delay or failure to execute instructions received from you or in the receipt of cleared funds. You acknowledge and agree that, to the extent permitted by law, we shall not be liable for any loss, damage or other liability suffered by you or any third party which arises as a result of taking such action.

2 5.9 You will be liable to indemnify us for any loss, damage, cost or expense which we may incur in connection with the collection of Collectible Items to your Account We reserve the right to refuse to take a lodgement to your Account. 6. Maturity 6.1 At Maturity, you may: reinvest all your funds in your Account for a further term; subject to retaining any required minimum balance, withdraw part of your funds and reinvest the remainder for a further term; or withdraw all your funds and close your Account. 6.2 You can change the Maturity instructions during the term of your Account, by completing the appropriate documentation and returning it to your branch by the close of business on the Business Day before Maturity. Maturity instruction amendment forms are available in our branches or on our website, We may, in the future, allow you to give your Maturity instructions by other methods, and if we do, details will be available on our website, If you wish to reinvest your funds at Maturity for a further term, you may, at our discretion, in the 5 days prior to Maturity, lodge additional funds to your Account subject to conditions 5.4 and 5.5. Depending on the type of payment instruction you give us (for example if you make an online transfer) you may make such lodgement up to 6pm on the Business Day before Maturity. 6.4 If you are a personal customer, you have a 14 day period in which to contact us to cancel your Account each time you reinvest funds for a further term. This period begins on the commencement of the new term. If you contact us within this period to cancel your Account, we will only repay you any funds you have reinvested at Maturity, but not any interest which may have accrued from the time of reinvestment. If you wish to cancel your Account, you may do so by writing to your branch. 6.5 Where you elect to withdraw funds at Maturity or make a mid-term withdrawal in accordance with condition 7.2 below, the funds will be transferred to a suitable AIB account of your choosing. However, if the funds cannot be credited to your chosen account (if, for example, the account is closed or the details are incorrect), we will endeavour to contact you. In the event that we cannot contact you to clarify your instructions, we will open an AIB Demand Deposit account for you and transfer the funds to this new account. If this happens, we will send you the applicable AIB Demand Deposit account terms and conditions and an opening statement, which sets out your new account number and balance. 6.6 You must ensure the minimum balance is retained in your Account and that your Maturity instructions are accurate and complete. In the event your Account balance falls below the required minimum balance, or there is a conflict in your Maturity instructions, (for example, you have elected to make a partial withdrawal at Maturity and reinvest the remainder, and such partial withdrawal would result in your Account balance falling below the required minimum balance), we may open an AIB Demand Deposit account for you and transfer all of your funds to this new account. If this happens, we will send you the applicable AIB Demand Deposit account terms and conditions and an opening statement, which sets out your new account number and balance. Your Account would then be automatically closed. 6.7 Further, in the event that we cannot accurately execute your Maturity instructions, (for example, you have elected to make a partial withdrawal at Maturity and reinvest the remainder, and in the meantime you have made a mid-term withdrawal which has resulted in the amount you have elected to withdraw at Maturity no longer being accurate), we may open an AIB Demand Deposit account for you. If this happens, we will endeavour to execute your reinvestment instructions and transfer the remaining funds to this new account. We will send you the applicable AIB Demand Deposit account terms and conditions and an opening statement, which sets out your new account number and balance. For the avoidance of doubt, if we are unable to execute your Maturity instructions due to a conflict, inaccuracy or incompleteness in your instructions, we will transfer all funds to a demand deposit account and your Account would then be automatically closed. 6.8 You are responsible for ensuring the accuracy and completeness of each instruction you give us or we receive as authorised by you. We are not responsible for any delay or error which arises from incomplete, unclear, inconsistent or mistaken instructions which you give us and we may refuse to execute such instructions. 6.9 If you elect to withdraw all of your funds at Maturity, your Account will be automatically closed on Maturity. 7. Withdrawals 7.1 You can only withdraw cleared funds from your Account by transferring them to your AIB payment account or another suitable AIB account. Therefore, in order to make withdrawals from your Account, you must also have a payment account or another suitable account with us. If you are a new customer, or do not already have a suitable account, we recommend that you open an AIB Demand Deposit account for this purpose. 7.2 If the term of your Account is 6 months or greater, you may make a one-off mid-term withdrawal of up to 10% of the balance of your Account prior to Maturity. This withdrawal may be made subject to maintaining the minimum account balance at all times. 7.3 If the term of your Account is less than 6 months, you cannot make a withdrawal from your Account until Maturity. At Maturity, withdrawals may be made from your Account in accordance with condition 6.5 above. 7.4 If you make a mid-term withdrawal, you should ensure that any Maturity instructions you have provided us with are still accurate. For the avoidance of doubt, any mid-term withdrawal which results in the balance of your Account falling below the minimum balance required to execute your Maturity instructions, or conflicts with your Maturity instructions, will be dealt with as set out in condition 6.6 and/or condition 6.7 above. 7.5 Your Account may not be overdrawn. 7.6 No passbook, cheque book, ATM card or debit card is issued with your Account and no standing order or direct debit facilities are available on your Account and you may not make bill payments to third parties from your Account (notwithstanding that your Account may be accessible online). 7.7 We may request evidence of your identity when you are making a withdrawal from your Account. 8. Interest 8.1 The interest rate will be fixed for each term of your Account and, in the case of the initial term, will be the rate applicable at the time your Account is opened and, in the case of any subsequent term, will be fixed at the time of reinvestment. The applicable rate is set out on the statement that we will issue on Account opening, and each time you reinvest funds for a further term. 8.2 Details of applicable interest rates are available from our branches and on our website These are indicative only and the actual rate will be the applicable rate prevailing at the time the rate is fixed in accordance with condition We calculate and accrue interest based on the daily balance in your Account. Interest will start to accrue when funds have been lodged for value to your Account. If a lodgement is not made at the start of the term, the interest will be accrued for less than the full term. If you make a mid-term withdrawal from the Account during the term in accordance with condition 7.2, the amount of interest earned will be less than if the opening balance had remained until Maturity. This may result in interest applying to your Account being less than you anticipated or the advertised amount. 8.4 We will credit any interest accrued to your Account at Maturity and annually where the term is greater than one year. 8.5 Subject to certain exceptions, interest is subject to deduction of Deposit Interest Retention Tax (DIRT) at the prevailing rate from time to time. Depending on your circumstances, you may be entitled to exemption from DIRT. Please contact the Irish Revenue Commissioners for further details. 8.6 If you are not resident in Ireland we will deduct DIRT from your Account unless: we hold a non-resident declaration form fully completed by you; and the minimum balance in your Account is at all times 12,500. If either of those requirements is not satisfied we will revert to deducting DIRT at the prevailing rate. In the event that they are subsequently satisfied you will have to re-apply for the exemption and provide fresh confirmation of your residential status. 9. Statements A statement will be issued to you when you first lodge funds to your Account, at re-investment, and at least once a year after that. 10. Joint Accounts 10.1 If your Account is a joint account the provisions of this condition 10 apply and the obligations of the joint Account holders to us under these terms and conditions, in respect of all operations on your Account are joint and several.

3 10.2 Payments from a joint Account will be made in accordance with the latest signing instructions governing the operation of the joint account. Warning: if your signing instructions are that payments may be made from your joint Account on the instructions of some but not all of the Account holders, money in your joint Account may be withdrawn or paid away or reinvested for a further term without the knowledge or consent of the other Account holders Correspondence and notices in relation to a joint Account will be sent by us to the address of the first named Account holder unless all of the Account holders direct otherwise in writing. Such correspondence and notices will be deemed to have been received by, or served upon, all of the Account holders If we become aware of a dispute between the Account holders we may cease to accept instructions in relation to your Account unless they are given by all the Account holders. However, we are not obliged to do this and we may, notwithstanding any dispute, continue for as long as we think fit to rely on the existing signing instructions If a joint Account is an Account of a partnership then notwithstanding any change in the constitution or name of the partnership or any change in the membership of the partnership by reason of the death, insolvency, retirement, disability or otherwise of any partner or the admission of any new partner or partners we may in the absence of written notice to the contrary from all remaining partners in the partnership or from the executors, personal representatives or trustees of the outgoing partner: treat the surviving or continuing partners or partner for the time being of the partnership as having full power to carry on the business of the partnership and to deal with its assets as freely as if there had been no change in the partnership; allow such Account to continue to be operated as if such change of membership had not occurred; and account to the partners for the time being, and exercise any right of set-off, as if there had been no such change We may close a joint Account acting in accordance with the existing signing instructions. 11. Death and bankruptcy 11.1 If you die and your Account is in your sole name, we will close your Account and pay the amount standing to the credit of your Account and any interest that has accrued to your personal representatives. We will do this when we receive the necessary legal documents to confirm your death and to confirm the authority of your personal representatives. If your Account is a joint Account and one of the Account holders dies, unless you have provided otherwise on your Application Form, or on any subsequent signing instructions, any money standing to the credit of the joint Account will, subject to compliance with any statutory requirements and receiving the relevant Irish Revenue Commissioners clearance, if applicable, be paid to, or to the order of, the survivor or the sole survivor joint Account holder Notwithstanding the provisions of condition 11.1 above, if we are put on notice that there is a dispute between the surviving joint Account holder and your estate regarding ownership of any amount standing to the credit of your Account, we may cease to take to accept instructions in relation to your Account unless we receive written confirmation from both parties that the dispute is resolved. However, we are not obliged to do this and we may, notwithstanding any dispute, continue for as long as we think fit to rely on the existing signing instructions If you become bankrupt and your Account is in your sole name we will close your Account and pay the amount standing to the credit of your Account (but not any interest that has accrued) to the person administering your bankruptcy. We will do this when we receive the necessary legal documents to confirm the bankruptcy and to confirm the authority of the person administering your bankruptcy. If your Account is a joint Account, we will require the instructions of the other Account holders as well as the instructions of the person administering your bankruptcy Before making any payment in accordance with the foregoing we may exercise our set-off rights under condition 19 below. 12. Fees and Charges 12.1 Fees and charges applicable to your Account are contained in our branch notices and in the current editions of our booklets A Guide to Fees and Charges for Personal Accounts and/or Business Fees and Charges, and/or Schedule of International Fees and Charges which are available at any of our branches and on our website, Subject to notifying the relevant authority, we may from time to time alter such fees and charges and introduce new fees and charges. Such variation will be notified to you in accordance with condition We may debit your Account with all fees and charges which you are liable to pay us. 13. Closure of your Account 13.1 You may not close your Account prior to Maturity. At Maturity, if you withdraw all of your funds your Account will be automatically closed. If your Account balance falls below the required minimum balance, or there is a conflict in your Maturity instructions, your Account may be automatically closed in accordance with conditions 6.6 or We may suspend or close your Account immediately at any time during its term if we reasonably believe that by continuing to make it available: we might be breaching a law, regulation, code or other duty which applies to us; or we may expose ourselves to action or censure from any government, regulator or law enforcement agency If we close your Account in accordance with the previous condition we will pay to you all amounts standing to the credit of your Account together with accrued interest to the date of closure If this Account is closed, you must immediately repay any amount you owe us, including outstanding fees and charges. You will remain liable to us for any amount you owe even when your Account has been closed If we decide to withdraw this AIB Select Fixed Term Deposit Account, we will notify you at least one month in advance of Maturity. If this product is no longer available, we will re-invest your funds in another similar fixed term product, for the nearest possible term, unless you request us to close your Account. 14. Changes to these Terms and Conditions 14.1 We may change these terms and conditions from time to time. Changes will normally be caused by: changes in the cost of providing our services; changes in, or the need to conform with, general banking practice, expected or actual changes in legal, regulatory, taxation or other requirements affecting us; promotional reasons, system or product developments; the need to conduct our business in a prudent or competitive manner, or other good reasons; or we may also make changes to make these terms and conditions clearer or more favourable to you or to rectify any errors identified in them If the change to these terms and conditions is to your advantage, we may make the change immediately and tell you about it afterwards. We will notify you at least one month in advance of any other change to these terms and conditions, unless we are permitted by law to give you shorter notice We will notify you of any change to these terms and conditions by a notice published in a national newspaper, by a notice on our website, by a notice in our branches, by a notice sent to you by post, or other electronic means or by any other means required or permitted by law. 15. Contacting each other About us 15.1 Our head office is at Bankcentre, Ballsbridge, Dublin 4. Our website is We are a public limited company registered at the Companies Registration Office, Dublin under registration number Our VAT number is IE8E86432H Our principal business is the provision of financial services and we are regulated as a credit institution by the Central Bank of Ireland. The Central Bank of Ireland s address is PO Box No. 559, Dame Street, Dublin 2. Communicating with us If you wish to contact us in relation to your Account, please telephone any branch. You will find their contact details on our website, About you 15.4 We need you to tell us about any changes in circumstances, name, contact details and/or other important changes that are relevant to us. We may ask you to provide and/or confirm details of any such changes in writing (for example, by completing our change of address form) If you do not keep us informed of these changes, your eligibility for your Account, the services we can offer you or how they work might be affected.

4 Communicating with you 15.6 Subject to applicable law, we may contact you in person or by phone, post or hand delivery, or by fax, , online, or other electronic means. We are always working towards ways to make our services more convenient and flexible so we may introduce new ways to communicate with you in the future You will be deemed to have received any notice sent by us to the last address notified by you immediately upon delivery if delivered by hand and two Business Days after dispatch if sent by ordinary post even if it is mis-delivered or returned undelivered. Any notice sent by fax, or online (to your fax number, address or online address last known to us) will be deemed to have been received by you at the time it is sent We will notify you of any change to this agreement by a notice published in a national daily newspaper, an online notice on our website, a notice sent to you by post, or other electronic menas or by any other means required by or permitted by law We may record or monitor phone calls between you and us so that we can check instructions and make sure that we are meeting our service standards and to ensure the security of our business and that of our customers and staff and for the purposes of training our staff These terms and conditions are in English and we will only write and communicate with you in English. 16. Complaints In the event that you wish to make a complaint you may do so by writing directly to our Customer Support Centre at Bankcentre, Ballsbridge, Dublin 4. If you are still not satisfied and you come within the jurisdiction of the Financial Services Ombudsman, you are entitled to take your complaint to the Financial Services Ombudsman, 3rd Floor, Lincoln House, Lincoln Place, Dublin 2. Further details of our complaints procedures are set out in our complaints brochures. 17. Your Information 17.1 We will comply with our obligations under the Data Protection Acts, 1988 and 2003 (as amended from time to time) as regards relevant data in our possession relating to you. Subject to you paying any applicable fee, you have the right under those Acts to obtain a copy of the personal data that we hold about you You agree that we may hold and process information about you for the purposes of operating your Account and can disclose such information to third parties and agents involved directly or indirectly in the provision of such services. We may also disclose information about you and your Account to our other group companies We will make all disclosures and provide all information required to the Irish Revenue Commissioners and all other relevant authorities in accordance with applicable laws and regulations. 18. Liability 18.1 We shall not be liable to you for breach of contract or for any loss or cost you suffer or incur because we cannot carry out our responsibilities to you due to circumstances beyond our reasonable control including, amongst other things, acts of God, fire, acts of government, war, civil commotion, inability to communicate with third parties, failure of any computer or telecommunications system, or failure of any payment, settlement or clearance system, labour disputes or the acts or omissions of our agents or any other third party We shall not be liable to you if you are claiming for any loss or damage arising from any delay or refusal to carry out any instruction for a payment from your Account where we are entitled to do so in accordance with these terms and conditions or by law, or for any loss or damage you may suffer as a result We shall not be liable to you if you are claiming for any loss or damage arising out of or in connection with any payment from, or payment or intended payment to your Account where there was no way we could have reasonably predicted your loss when you gave us the instruction; or if you are claiming for any increased costs or expenses, or for any loss of profit, business, contracts, revenues or anticipated savings or for any special, indirect or consequential damage of any nature None of the above will apply if we act fraudulently, with wilful default or gross negligence, or where the law does not allow us to exclude our liability You will be liable to indemnify us for any loss which we may incur arising out of any breach of these terms and conditions by you. 19. Set-off We may, in addition to any other similar right we may have, at any time without notice to you, set off any credit balance on your Account (whether or not your Account has matured) against any sums which are or may become owing to us by you in any manner or on any account whatsoever. 20. Exercising our Rights If we do not exercise, or we delay in exercising, any right, power or privilege we do not thereby waive it and we may exercise it at a later date. If we exercise, in whole or in part, any right power or privilege on one occasion we may exercise it, or any other right, power or privilege, at any other time. 21. Dormant Accounts A dormant account is an account which has had no customer initiated transaction for 15 years. If your Account is a dormant account, and the credit balance is more than 100, we will contact you to explain your rights and our obligations under the Dormant Account Acts (as amended). We do not have to contact you if you have asked us not to, or if we have previously attempted to contact you without success, or the credit balance on your Account is less than 100. If we have contacted you and you fail to contact us by 31st March of the following year, we must transfer the credit balance to the National Treasury Management Agency (NTMA). It is possible to make a claim for repayment of the funds which we will deal with in accordance with the Dormant Account Acts. 22. Governing Law and Jurisdiction This agreement, and any non-contractual obligations arising out of or in connection with it, is governed by and construed in accordance with the laws of Ireland and, for our benefit and without prejudice to our right to take proceedings before any other court of competent jurisdiction, you submit to the jurisdiction of the courts of Ireland with respect to any dispute or claim arising out of or in connection with it (including any dispute or claim relating to its existence, validity or termination) or any non-contractual obligations arising out of or in connection with it. 23. Interpretation In these terms and conditions: Business Day means a day (other than Saturday, Sunday or a public holiday) on which we are generally open for business in Ireland; Collectible Items means cheques, drafts and other negotiable or non-negotiable paper items drawn on or by us or which we have to process through a clearing system or directly present to the drawee bank in order to receive payment. It can take 5 Business Days or longer to clear a Collectible Item that is from an account in another Irish financial institution. It can take considerably longer to clear a Collectible Item that is from a financial institution abroad; Any reference to branch means any of our branches in Ireland and the services available in such branches will only be available during branch opening hours or in any other manner we may allow; Any reference to you and your includes your personal representatives and successors and, where appropriate, includes any person authorised to act on your behalf. Any reference to we, us and our means Allied Irish Banks, p.l.c. and includes our successors and assigns; Reference to any gender includes all genders and the singular includes the plural and vice versa (where the context allows); Any phrase introduced by the terms for example, including, include(s), in particular or any similar expression shall be construed as illustrative and shall not limit the sense of the words that come before those terms; and Headings are for convenience only and are not to be taken into account when interpreting this agreement. If at any time any part of this agreement is deemed to be invalid or unenforceable the rest of it will remain fully effective.

5 AIB SELECT FIXED TERM DEPOSIT ACCOUNT IMPORTANT INFORMATION AIB600SFTFIN 03/15 Important Information European Communities (Distance Marketing of Consumer Financial Services) Regulations 2004 About Us We are Allied Irish Banks, p.l.c. whose principal business is the provision of financial services. Our registered office is at Bankcentre, Ballsbridge, Dublin 4. We are registered at the Companies Registration Office, Dublin. Our registered number is Our VAT number is IE8E86432H. We are regulated by the Central Bank of Ireland. About the AIB Select Fixed Term Deposit Account ( Account ) 1. Eligibility You can put away a lump sum of 15,000 or more for a fixed term. It is important that you consider your short-term needs and ensure you have sufficient funds available in short-term accessible deposits. You can open the Account as a sole account or as a joint account with you and another person. 2. Lodgements If the term of your Account is greater than 1 week, you have 7 days from the day of Account opening to make a single lodgement to your Account. If the term of your Account is for 1 week or less, you must make a single lodgement to your Account on the day it is opened. If you do not make a lodgement to your Account within the time periods specified, your Account will automatically close. You must lodge the same amount advised to us at Account opening. 3. Withdrawals If the term of your Account is for 6 months or greater, you may make a once-off mid-term withdrawal of up to 10% of the balance, providing the required minimum balance of 15,000 remains in the Account. Only one withdrawal is allowed per investment term. If the term of your Account is less than 6 months, no withdrawals are allowed until the end of the term (Maturity). You can only make withdrawals from your Account by transferring them to an AIB payment Account or another suitable AIB account. If you are a new customer, or do not already have a suitable AIB account, we recommend that you open an AIB Demand Deposit account for this purpose. 4. Interest The interest rate is fixed for each investment term and applies from the time of Account opening and reinvestment. If a lodgement is not made at the start of the term, the interest will be accrued for less than the full term. If you make a mid-term withdrawal from your Account, the amount of interest earned will be less than if the opening balance had remained until Maturity. This may result in the interest applying to your Account being less than you anticipated or the advertised amount. Interest will be paid at Maturity. If you have chosen a term greater than one year, interest will be paid annually on the anniversary of Account opening and on Maturity. 5. Maturity You can give us your Maturity instructions when you apply to open your Account. If you change your mind, you can change your Maturity instructions during the term of your Account, until the close of business on the Business Day before Maturity. You can do this by completing documentation at your branch. In the future, it may be permitted to amend your Maturity instructions over the phone or online. If we make these methods available, we will let you know on our website, Maturity instructions which are inaccurate, incomplete or conflicted may result in us being unable to fully carry out your Maturity instructions. If, for example, you have made a mid-term withdrawal, which has reduced the amount you have chosen to reinvest or withdraw at Maturity, but you have not updated your instructions, or we are unable to credit the account you have selected to transfer your withdrawal to, (for example, if that account is closed or the account number is incorrect) we may open an AIB Demand Deposit account for you and transfer the balance of your Account to the new account. IMPORTANT: Auto-reinvestment If you do not give us your Maturity instructions, your funds will be automatically reinvested in your Account for a further term, of the same or similar duration at the prevailing rate at Maturity, (subject to retaining the required minimum balance in your Account). If you wish to re-invest your funds at Maturity for a further term, you may, at our discretion, in the 5 days prior to Maturity lodge additional funds to your Account subject to certain criteria. If you make a mid-term withdrawal, you should ensure that you check and update (if necessary) any previous Maturity instructions you have given us, to ensure they are still accurate. If you are a personal customer, you have a 14 day period in which to contact us to cancel your Account each time you reinvest funds for a further term. This period begins on the commencement of the new term. If you contact within this period to cancel your Account, we will only repay you any funds you have reinvested at Maturity, but not any interest you may have accrued from the time of reinvestment. If you wish to cancel your Account, you should write to your local branch. 6. Fees and Charges There are no operating costs associated with the Select Fixed Term Deposit, however services charges may apply. For more details on these charges, please refer to the Services Charges section within A Guide to Fees and Charges for Personal Accounts or our Business Fees and Charges brochure and/or our Schedule of International Fees and Charges, available at any of our branches or on our website, 7. Tax on Interest earned on the Select Fixed Term Deposit We will deduct Deposit Interest Retention Tax (DIRT) at the prevailing rate from all interest earned, unless you are entitled to an exemption from DIRT, and we will pay this directly to the Revenue Commissioners.

6 To the extent that DIRT has been deducted, there is no further liability to Irish income tax, but you may be subject to PRSI. Deposit Interest is not liable to the Universal Social Charge. The Bank will deduct DIRT from the accounts of non-residents unless a fully completed non-resident declaration form is held by the Bank and a minimum balance of 12,500 is maintained at all times in each account maintained by the non-resident. If you or your spouse/civil partner are aged 65 or over in the current tax year, or are permanently incapacitated and you are exempt from income tax, you may apply to have the interest on the Account paid without deduction of DIRT. Companies (within the charge to Corporation Tax) pension schemes and charities may receive interest without deduction of DIRT, by providing the Bank with the tax reference number assigned to them by the Revenue Commissioners. We will make all disclosures and provide all information required to the Irish Revenue Commissioners and any other relevant authorities in accordance with applicable laws and regulations. 8. Deposit Guarantee Scheme Should you require information about the Deposit Guarantee Scheme, please refer to the Irish Deposit Guarantee Scheme leaflet issued by the Irish Banking Federation, which is available in any of our branches. 9. Cancellation If you are a consumer and have opened your Account by any means of distance communication, for example, by telephone, and are not happy with your Account, you have a 14 day period in which to contact us to cancel your Account. This period begins on the date your Account is opened or the date you receive your terms and conditions and other account information, whichever is the later. If you contact us within this period to cancel your Account, we will repay you any funds you have lodged but not any accrued interest. If you wish to cancel your Account, you should write to your local branch. If you do not exercise your right to cancellation, the terms of the agreement will continue to apply. 10. Termination Subject to your right to cancel the agreement within the 14 day cooling off period, the Select Fixed Term Deposit cannot be closed before Maturity. However, we can close your Account immediately if any of the circumstances detailed in conditions 11 or 13 of your terms and conditions occur. 11. General The agreement will be governed by the laws of Ireland and, for our benefit and without prejudice to our right to take proceedings before any other court of competent jurisdiction, the Courts of Ireland will have jurisdiction to resolve any disputes. The agreement and all information and communication with you will be in English. 12. What to do if you have a Complaint In the event that you wish to make a complaint you may do so by writing to our Customer Support Centre at AIB Bankcentre, Ballsbridge, Dublin 4. If you are still not satisfied you are entitled to take your complaint to the Financial Services Ombudsman, 3rd Floor, Lincoln House, Lincoln Place, Dublin 2. Terms and Conditions apply. A.E.R is the Annual Equivalent Rate. Interest is subject to D.I.R.T. at the prevailing rate. (For detailed information, visit Allied Irish Banks, p.l.c. is regulated by the Central Bank of Ireland.