Bank of Ireland Credit Card Services is to withdraw its 1.75 per cent cross-Border handling charge for transactions within the euro zone. This charge was previously included in the currency conversion rate.

The Director of Consumer Affairs had approved the retention of the cross-Border handling charge to cover additional processing costs, but Bank of Ireland is the first major bank to announce the dropping of the charge. The dropping of the charge will mean a saving of £1.75 on a £100 transaction, £8.75 on a £500 transaction and £17.50 on a £1,000 transaction.