AIB to Hike Business Banking Fees

[Lightning]

AIB's business customers hit by online price hike

The bank is increasing the cost of its online business banking product, known as an IBB account.

Some 43,000 businesses used these type of accounts as of last June, and almost all will be affected. The price rise should generate around €2.15m in extra revenue for the bank.

The cost of a basic IBB account will rise 25pc, to €250 a year from €200.

Meanwhile, Ulster Bank charge just 20 EUR per year for their basic business banking product ...

Ulster Bank charges €20 a year for its basic business account product, which includes free online banking, though there are further charges per transaction and a more expensive option available for larger corporates. Transaction charges include a €25 fee for statements and reports.

 

[MrEarl]

AIB's business customers hit by online price hike



Meanwhile, Ulster Bank charge just 20 EUR per year for their basic business banking product ...

Hello Ciaran,

While you are correct to highlight AIB's increased charges and to try to help people compare with others, or find cheaper alternatives, I don't think offering UB's services as a possible alternative is the right move here.

Simply put, UB is unreliable if one considers the number of system problems they have had over the past year and the impact on it's customers. How anyone could have confidence in their services at this time, is beyond me to be honest.

Pehaps it would be better to look to BoI, or PTSB etc.

For the record I have no connection with AIB by the way.

 

[markpb]

It's worth noting that AIB and BOI also had several technical difficulties this year too, although not for as long as UB. None of them are perfect.

 

[MrEarl]

It's worth noting that AIB and BOI also had several technical difficulties this year too, although not for as long as UB. None of them are perfect.

Hello,

I am not a customer of either of them, but was not aware of the BoI issues and only recall brief mention of AIB so on that basis was happy to think both should be considered (on the basis that none are pefect). The sad irony is that Danske's online banking is / was probably the best of them all imho (and yet we are losing them)....

Would you feel that it would be a notable business risk to consider AIB or BoI's online facilities based on what you mention (because I would, in the case of UB hence my earlier comments) ?