BOI raises stakes in battle for accounts

BANK of Ireland’s battle with AIB for business current accounts intensified yesterday as BOI’s announced it will pay interest on credit balances at up to four times the rate of AIB.

However, to get the full benefit customers need to be in credit to the tune of 1m.

AIB were first off the mark when they introduced interest-bearing current accounts to business customers last September at a rate of up to 0.5%, since reduced to 0.25%.