Implementation of Post Office Cash Lodgement Limits for AIB (NI) Business Accounts on 1^st of July 2024 FAQs

The FCA has directed all banks to set limits on the amounts of cash that personal and business customers can lodge via the Post Office to help combat money laundering.

The FCA advised all banks to set Daily and Annual Rolling Limits based on a historic analysis of cash lodgements via the Post Office, made by their business customers.

AIB (NI) reviewed all business Post Office cash lodgements made over a 12-month period to identify the limits that we should set.

Our Daily Business Post Office Cash Lodgement Limit is £10k and our Annual Rolling Limit is £250k. 

We look back at all Post Office Cash Lodgements made to the business account in the previous 12 months rather than the previous ‘calendar year’ to determine if the account has already lodged £250k before accepting the transaction.

Note however that we will not include lodgements made prior to the implementation date of 1^st of July 2024.

The cash lodgement transaction will be declined by AIB (NI), and the customer will be advised the reason for the decline by the Post Office cashier.

Yes. Our letter invites customers to contact us if they believe that they will need higher limits than the standard £10k Daily and standard £250k Annual Rolling Limits.

Where the bank is satisfied with the proposed level of cash lodgements and evidence of the source of funds associated with these lodgements, we will set higher limits on the account.

No.