AIB Bank has launched a new electronic banking service for business customers, which it claims will bring the branch directly to the workplace.

Electronic Business Banking (EBB), which operates on a personal computer, allows customers to automatically access information on their bank account, transfer funds, and pay bills.

EBB which runs under Microsoft's Windows operating system and requires a modem to link the PC to the telephone network, will be open to customers 20 hours per day, 365 days per year.

The system will provide up to the minute access to a range of AIB accounts, including credit card and foreign currency accounts.

Intra account transfers are free, and businesses can also transfer funds to five other mandated AIB accounts. Credit card and utility bills can be paid using the system, and payment can be scheduled for up to 28 days in advance.

EBB also allows customers access to prices on the Irish Stock

Exchange and that morning's foreign exchange rates.

The EBB software costs £100 per year, and customers will also have to pay a quarterly fee of £7.50 to Telecom Eireann for use of the Eirpac system to connect with AIB.