Personal current account customers at Bank of Ireland automatically qualify for free day-to-day banking by conducting three debit transactions online or by telephone from their personal current account over a three-month period or by keeping a minimum credit balance of €500 in their account. The offer applies to quarterly account transaction fees for both of the bank’s fee options.

Many of the personal customers already receiving free day-to-day banking are also receiving credit interest on their balances as they conduct three debit transactions online or by telephone such as paying a bill or topping up their mobile phone.  Bank of Ireland is currently offering 10.5 per cent (10.92 per cent EAR) interest on current account balances up to a maximum of €1,500 until 24th February 2008, after which is reverts to 4 per cent (4.06 per cent EAR) and notably applies no minimum credit balance criteria.

Commenting on the announcement, Brendan Nevin, Director of Strategy & Marketing, Bank of Ireland, said, “Irish people want value for money, but very few will be swayed by once-off incentives if it costs them reduced access to basic services and quality advice to which they’ve become accustomed. That’s why so many of our customers are enjoying the benefits of free banking and Ireland’s best online and branch banking service”.

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