AIB cancels introduction of contactless fee due to coronavirus

By Aisling Finn on Monday 16 March 2020

Digital Banking

The announcement comes just two weeks after the World Health Organisation told people to go contactless.

AIB cancels introduction of contactless fee due to coronavirus
Image source: AIB

In the latest development of the coronavirus pandemic, Irish bank AIB has decided to halt the introduction of a contactless fee.

The fee was due to be introduced in line with other Irish banks, the Bank of Ireland and Ulster Bank announced recently they would be introducing a 1 per cent charge for every contactless transaction.

In an email sent to customers, the bank wrote:

"In the light of the current Covid-19 outbreak AIB is suspending the planned introduction of the contactless fee."

This announcement could be as a result of the World Health Organisation (WHO) urging people to use contactless to stop the spread of the deadly virus—according to WHO the coronavirus can be carried on banknotes for several days.

The warning came after it was revealed that both China and Korea began to disinfect and isolate used banknotes to help prevent the spread of the virus.

The Irish bank has also implemented several measures to help with the impact of coronavirus, such as paying staff whose partners work in health care to work from home, shorter decision times on loans and introducing a network of business advisors to help customers.

AltFi contacted AIB for comment but it declined to provide any further comment beyond the above statement.

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