AIB move to hike fees for bounced cheques criticised

CONSUMER watchdogs have criticised AIB after the bank decided to increase fees for bounced cheques by 60% to €10 a time.

The bank, which made €1.7 billion profit in the first six months of last year, has also decided to raise to €5.15 the charge for each payment when a customer is unexpectedly overdrawn.

The Consumers’ Association of Ireland (CAI) said the new AIB charges were unjustified and made a mockery of the idea of free banking.