AIB cuts fees for euro exchanges

AIB has decided to reduce and in some cases abolish the commission charged for the sale and purchase of euro zone currencies.

In a statement this morning, AIB said that from June 18th it will purchase euro zone currencies up to an equivalent of £1,000 per day from account holders free of commission. On October 1st this will be extended to sales of these currencies.

Commission charges for the sale and purchase of euro zone currencies will be reduced to 1.5 per cent from 3.5 per cent.

The move by AIB follows a similar decision by Bank of Ireland yesterday.

Last month Ulster Bank also cut its charges.