Allied Irish Bank has introduced a new fee and charge structure for personal customers, which the bank claims simplifies the overall structure. The main changes introduced by AIB include the removal of 12 service charges including charges on standing orders, cheque card charges, third-party transfers, standing order set-up and status enquiries.

From August 26th next, all AIB personal customers will qualify for free banking during any quarter by maintaining a credit balance of £400 in their account. AIB has said that its existing fees of £3.75 per quarter for account maintenance, 24p per paper transaction and 17p per automated transaction would be maintained at those levels until at least 2002.