Summary: AIB does not provide direct support for Bitcoin or cryptocurrency transactions through its online banking or mobile application. Nonetheless, customers can participate in the digital asset market by collaborating with exchanges authorised by the Central Bank of Ireland, employing Euros (EUR) from their AIB accounts to invest in cryptocurrencies on their selected platforms.
After assessing more than 20 exchanges, eToro came forth as the prime choice for AIB clients. This platform complies with regulations and enables cost-efficient and prompt EUR transfers from AIB accounts and AIB credit cards. Moreover, it gives access to an extensive range of over 3,000 digital currencies, stocks, ETFs, and various other investment avenues.
Can You Buy Crypto with AIB?
Ues, Allied Irish Bank (AIB) offers a method for its customers to invest in digital assets. Those eager to delve into Bitcoin, Ethereum, or other digital assets must first set up an account on a cryptocurrency exchange in Ireland that permits AIB internet banking accounts or cards for Euro (EUR) deposits. When choosing an exchange, ensure it is supervised by the Central Bank of Ireland or similar regulatory authority within the European Union.
How to Buy Bitcoin with AIB Bank
The safest and most secure method to buying Bitcoin and crypto assets with an AIB bank account is through a trusted and regulated broker. Based on our analysis, we found that eToro was the top exchange that is trusted and licensed in Ireland and throughout Europe. Their platform enables instant EUR deposits to trade over 3,000 cryptos, stocks, ETFs and more.
You can follow this simple 4-step guide to get started with a regulated broker:
- Establish an eToro account and complete the verification procedure.
- Click on 'Deposit Funds', found at the bottom left of your screen.
- Choose 'EUR' as your currency and your preferred payment method, then initiate the transfer from AIB.
- Use the search bar to find and buy your preferred cryptocurrency.
What are the Fees?
Expenses associated with digital asset investment via an AIB account can vary greatly depending on your chosen cryptocurrency exchange and deposit method. Key costs may include deposit fees, withdrawal fees, spread percentages, and trading fees.
Our study indicates that eToro offers a cost-effective alternative for AIB customers, thanks to its economical EUR deposits and commission-free trading. The main cost when purchasing digital assets on their platform is a 1% spread, noticeably advantageous compared to platforms like Coinbase, which charges over 2% per transaction.
Is AIB Crypto-Friendly?
Allied Irish Banks (AIB) supports customers' involvement with Bitcoin, Ethereum, stablecoins, and other cryptocurrencies through exchanges accredited by the Central Bank of Ireland (CBI), CySEC or the European Securities and Markets Authority (ESMA). This guarantees customers engage with platforms abiding by Irish and European rules designed to deter financial misconduct, such as money laundering and deceptive transactions.
What is Allied Irish Bank (AIB)?
Allied Irish Banks, often referred to as AIB, is one of the so-called "Big Four" commercial banks in Ireland. AIB offers a full range of personal, business, and corporate banking services, including but not limited to loans, mortgages, savings, investments, and transaction accounts. The bank operates both in Ireland and internationally, providing retail and commercial banking as well as a range of direct channels to its customers.
AIB, formally established in 1966, came to fruition through the unification of three historical financial institutions: the Provincial Bank of Ireland, the Royal Bank of Ireland, and the Munster & Leinster Bank, each with roots extending to the 19th century. Over the decades, AIB has expanded and matured, cementing its place as a formidable force in Ireland's banking sector.
In conclusion, purchasing cryptocurrencies like Bitcoin and Ethereum is possible and secure for Allied Irish Banks (AIB) customers. This can be done by creating an account on a regulated cryptocurrency exchange that permits AIB internet banking accounts or cards for Euro (EUR) deposits. Always remember to select a platform supervised by a reliable regulatory authority for your safety.
eToro, for instance, offers reasonable trading costs and adheres to European and Irish financial conduct rules. With AIB being supportive of digital assets, customers can confidently delve into the world of cryptocurrencies. Always be aware of possible fees and conduct thorough research before investing.