Summary: Banks generally don’t offer crypto trading as part of their platform due to the regulations and complexities that come with setting up a crypto trading platform. However, that doesn’t mean you can’t use your Allied Irish Bank account to buy crypto.
All you need is a reliable and trusted cryptocurrency trading platform. We recommend using eToro as it’s a very well-known exchange (rated 4.2/5 with over 15000 reviews) with a good amount of cryptocurrencies to choose from and great support.
How to buy crypto or bitcoin with Allied Irish Bank
As stated above, just like with the vast majority of banks, you can’t buy crypto with Allied Irish Bank on their platform. At the time of writing, banks aren’t implementing crypto trading platforms yet, seemingly because of the extra regulations they need to adhere to, in addition to other complexities when it comes to setting up a crypto trading platform.
However, there are many crypto trading platforms that you can use for buying bitcoin and other cryptocurrencies.
1. Choose a crypto exchange
While there are a lot of crypto exchanges, it can get a bit tricky comparing them all as they all offer very similar features. The differentiating factors are mainly fees, the amount of digital assets to choose from, and any special features that the other exchanges don’t have.
The reason we recommend going with eToro is that they have a great combo of global reach (a lot of exchanges only work within specific GEOs), competitive fees, and a few very neat features (like “Copy Trading”, which allows you to copy the trades of other investors on the platform).
Let’s get into it!
2. Create an account on the exchange
The first thing to do is to create an account on the exchange and go through the required verification processes, which should go very smoothly as they’ve got it all streamlined.
3. Transfer funds into the account
Transferring funds from your Allied Irish Bank account is also pretty easy as eToro supports bank transfer, PayPal, credit/debit card, and a few more deposit methods.
4. Buy cryptocurrency
Once the funds are in the account, you can navigate to their markets section, choose your cryptocurrency and hit the buy/trade button.
And that’s it, you now have some crypto, congratulations!
About Allied Irish Bank
Allied Irish Banks p.l.c. One of the Big Four Irish commercial banks. AIB offers a complete range of personal, corporate and business banking services. The bank also offers general insurance products, such as car, home, and travel. It also offers life insurance and pensions through its tie agency with Irish Life Assurance plc.
The Irish government acquired a majority interest in the bank in December 2010, which eventually increased to 99.8%. AIB shares can be traded on both the Irish Stock Exchange (London Stock Exchange) but were delisted from these exchanges after it was nationalized in 2011. The rest of its publicly traded shares were listed at the Enterprise Securities Market of Ireland Stock Exchange from 23 June 2017 to 23 June 2017.
AIB also owns Allied Irish Bank in Great Britain (GB) and AIB in Northern Ireland (NI). In November 2010, it sold its 22.5% share in M&T Bank (USA) AIB entered the Baltic, Estonian and Lithuanian market in 2008 when it acquired AmCredit mortgage finance from the Baltic – American Enterprise Fund. Swedbank sold this stake in 2012 at a loss.
2009 saw Allied Irish Banks, along with Bank of Ireland, accept a EUR3.5 Billion bailout from Republic of Ireland. This was part of the Bank Recapitalisation Scheme. The bailout total of AIB (including EBS), amounted EUR20.7billion over several additional tranches.
In June 2017, the Irish government launched Allied Irish Banks. When the company was worth less than 6 million euro on the open market, the government declared that it would gradually sell its stake. Since March 2019, Colin Hunt is the AIB CEO. The Board's Chair was named as Jim Pettigrew in October 2021.