AIB plans to introduce new charges by stealth

AIB customers who have enjoyed "free" banking will see their privileges come to an end under plans

The group, which last month posted profits of €1.4 billion for 2002, will soon impose charges on customers who were previously exempt once they kept their current accounts in credit by a minimum of €500 each quarter.

It is claimed that the charges will hit services including ATM transactions, direct debits and standing orders, as well as branch transactions, cheques, lodgements and withdrawals. Reports cited an AIB source as stating that the announcement of charges would be "cloaked" with a simultaneous announcement of plans to start paying interest on current account balances to personal customers.