AIB has increased its minimum credit balance for "free" banking by approximately 400 per cent on current accounts and 100 per cent on Cashsave accounts. From August 26th, all personal customers maintaining a credit balance of £400 a quarter qualify for an elimination of fees and charges.

Before this current account holders had to keep a "cleared average credit balance" of £100 and cash save customers £200. This level was not as simple to ascertain as the new method which charges customers for certain transactions if they fall below the £400 minimum during the quarter.

Until 2002, personal customers not qualifying for free banking are charged £3.75 (current accounts only) for account maintenance, 24p for each paper and 17p for every automated transaction.