THE consumer representative on the Irish Banking Culture Board has called on AIB to hold off on changing its fees and charges regime for customers. The largely-taxpayer-owned bank is planning to remove an option that allows customers to avoid paying a maintenance charge and fees from the end of May. At the moment current account holders do not pay maintenance and transactions fees if they keep a minimum balance of €2,500 in their account on a quarterly basis. AIB said the European interest rate environment has made it difficult for the bank to provide maintenance and transaction fee-free banking. AIB came in for criticism last week for trying to introduce a 1c charge for customers who make contactless payments from May.

Source: Irish Independent March 20, 2020 15:00 UTC