Allied Irish Bank (AIB) has confirmed that it will be increasing current account fees from November 28th 2020.
The bank was originally planning on making the changes in May – but then postponed them because of Covid-19.
The changes in November will remove the existing option of fee-free banking for customers who keep at least €2,500 in their current account.
This will result in AIB current account customers being charged a quarterly maintenance fee of €4.50 PLUS all transaction charges on top of that. (Note – Some customers are exempt – see below)
In our ongoing comparison of bank charges – it will make AIB the most expensive current account based on the sample of transactions we selected.
AIB Transaction Charges
Automated Transactions (Direct Debit/ Standing Orders) 20c.
ATM withdrawals 35c
Machine Lodgements 35c
Cheque Processing 39c
Debit Card Transaction 20c
Over the Counter Transaction 39c
AIB is not, it seems, introducing a 1c transaction charge for contactless payments
Bank of Ireland is also altering their current account charges from Nov 23rd. More on the BOI Account Charges here
See how these AIB fees compare to the other Irish bank’s charges and find out how you can still get free banking in Ireland
Exemptions From AIB Charges
The following AIB current accounts will still be exempt from charges from November.
- Student accounts,
- graduate accounts
- Advantage accounts ( for those over 66)
- basic bank accounts
- current accounts used to pay AIB residential mortgages
Free Banking is available in Ireland from N26