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13.11 4 Sep 2020


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AIB has indefinitely postponed its plans to begin charging personal account customers for contactless payments.

The bank had previously written to customers to inform them they would be introducing the fee of one cent per transaction.

However, in March, it suspended the planned introduction due to COVID-19.

Customers have previously been able to avoid these fees by keeping a minimum balance of €2,500 in their account each quarter.

However, from November 28th, fees will be applied to accounts regardless of the minimum balance and will be charged quarterly from March 29th next year.

The average quarterly fees paid by personal customers are €18.

Jim O’Keeffe, Managing Director of Retail Banking at AIB, said: “Our research shows that 77% of customers are using contactless on a weekly basis, this reflects transformed customer behaviour and broadens the base of customers accessing digital channels.

"With this in mind, we are pleased to announce the extension of free contactless payments for all our customers.

"Our offering continues to give customers the ability to reduce their fees and charges based on their own personal account activity - this affords our customer both choice and control regarding their fees.

"In addition we continue to offer maintenance and transaction fee-free banking to 780,000 of our personal customers, including our older customers and students."

Main image: File photo. Christian Charisius/DPA/PA Images

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AIB Bank Charges Contactless

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