Customers of the AIB CURRENT ACCOUNT will be charged for contactless payments as well as additional maintenance and transaction fees from May 30 of this year.
A fee of 1 cent will be introduced for each contactless payment from that date, the bank told customers in a letter.
A quarterly maintenance commission of € 4.50 will also be introduced for current accounts.
A spokesperson for the bank said that based on existing usage, customers can expect to pay an average of € 2.20 per year in transaction fees.
At this time, current account customers with a bank balance of at least € 2,500 are not charged quarterly maintenance and transaction fees.
Student, Grad, Benefit and Basic bank accounts will continue to be free of maintenance and transaction fees.
Customers who have an AIB mortgage and pay their mortgage debit from an AIB current account are also exempt from these charges.
A statement from AIB says the bank has written to customers about the fees and has issued advice on “how they can keep their fees to a minimum.”
Fees will be billed at the end of each quarter, with the first fee sent out on September 28 of this year.
“The European interest rate environment has made it difficult for the bank to provide banking services without maintenance and transaction fees,” the AIB statement read.
“We want to ensure that AIB can continue to invest in a market-leading current account proposition and provide a high level of banking services to all of our current account customers.”