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Allied Irish Bank Invoice Finance & Factoring Reviews


Last Updated: 8 January 2025
Reviewed By: Ian Wright (Managing Director)

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  • Allied Irish Bank Invoice User Reviews
    • Review Summary
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  • Allied Irish Bank Invoice Finance Options
  • Allied Irish Bank Invoice Finance Eligibility
  • Allied Irish Bank Invoice Finance Rates
  • Allied Irish Bank Invoice Finance Calculator
  • Allied Irish Bank Invoice Finance Reviews
  • How To Apply For Allied Irish Bank Invoice Finance?
  • Pros
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Allied Irish Bank Invoice User Reviews

Review Summary

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Allied Irish Bank is the fourth largest bank in Ireland and its headquarters are in Dublin. They have a presence in several countries including in the UK with offices in London and Belfast. They offer both business and personal banking and finance products. Their business product range includes current and savings accounts, credit cards, loans, invoice finance, asset finance and merchant services.

Allied Irish Bank invoice finance

Allied Irish Bank Invoice Finance Options

Allied Irish Bank provides an invoice finance facility that allows businesses to release up to 90% of funds tied up in unpaid invoices upfront. The service is known as an invoice discounting service where you retain your credit control facilities and your own chase payments. The loan is repaid when your customer pays the invoice. The payments from customers will be paid into a designated collection account where Allied Irish Bank will take the loan amount and fee before transferring the remaining balance to you.

There are 2 charges applied which are a discount charge that is applied to the funds used, and a service fee is applied as a percentage of the debt purchased.

The amount you can borrow can grow in line with your sales ledger.

Allied Irish Bank Invoice Finance Eligibility

There is no eligibility criteria detailed on their website but they do state that credit will depend on an assessment of your financial position.

Allied Irish Bank Invoice Finance Rates

There 2 charges applied to invoice finance which are:

  • A discount charge which is a levy on the funds used by the company
  • A service fee which is a levy charged as a percentage of the debt purchased

Allied Irish Bank Invoice Finance Calculator

Allied Irish Bank offers an invoice finance calculator to give an indicator of the funds that could be made available to you based on a 90% prepayment rate.

Allied Irish Bank Invoice Finance Reviews

Allied Irish Bank is not very well rated across the 3 review sites that it features on. It is worth noting that the reviews cover both their personal and business products, therefore they may not accurately reflect the service provided by their invoice finance.

The highest number of reviews is on Trustpilot and they are largely negative with 84% of reviewers scoring them as bad. Some of the comments included in the reviews were about the long waiting times, how difficult it is to contact them, poor customer service and problems using the app. There were some positive comments which referred to good customer service and account management.

There are only a low number of reviews on the Review Centre and Smart Money People which are fairly mixed and not very highly rated. There seems to be a mixture of positive and negative customer experiences using their banking services including internet banking.

Trustpilot – 1.4/5 (based on 294 reviews)
Google Reviews – no reviews
Reviews.co.uk – no reviews
Review Centre – 2.1/5 (based on 4 reviews)
Smart Money People – 3.54/5 (based on 13 reviews)

How To Apply For Allied Irish Bank Invoice Finance?

To apply for invoice finance with Allied Irish Bank you can call them on 0345 600 5204 or visit a branch.

Pros

  • Established banking institution
  • Offers up to 90% of invoice values
  • Can grow with your business

Cons

  • Only offers invoice discounting
  • No rates are available
  • No branch network in the UK after most branches closed in 2020/21
  • Largely negative customer reviews

Website: Allied Irish Bank Invoice Finance

Disclaimer: Businessfinancing.co.uk is a business finance and lending research and information website publisher. We are not a lender, bank, broker and/or other financial institution and as such we are not authorised or regulated by the FCA to offer financial advice. We can't recommend any of the products and/or services featured on the site. Companies are ranked in no particular order and higher ranking does not imply one company is better than another. We work with FCA authorised and regulated firms who may pay us a commission for referring you to them but this has no impact on our content and helps keep this website free to use.



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