BoI follows AIB in changing rules over account fees

Bank of Ireland has defended its decision to change the rules governing fees on its current accounts that will see over 200,000 customers face charges.

A spokesperson said the provision of current accounts by the bank was a costly exercise. “Upgrading our online services and providing facilities like apps; these are considerable investments for the bank and the bank has to get some funds back.”

The changes in accounts mean consumers now have to keep a minimum balance of €3,000 in their account or else they will face fees. The changes come into effect on Nov 19.