AIB is hiking its charges for personal and business customers from the end of August.

The charge for a current account holder using an ATM machine will go from €0.20 to €0.35 — a hike of 75%.

Business customers will see their ATM charges go from €0.15 to €0.35 — up over 133%.

For paper and staff assisted transactions - including cheques or withdrawals inside a branch or post office - current account holders will be charged an extra 9 cent, bringing the fee up to 39 cent.

Foreign currency charges will also jump from €4.44 to €7, while the price of setting up a standing order will go from zero to €4.50.

In a statement, AIB said the new fees and charges would equate to an additional €0.75 on average per month for personal customers and €1.90 per month for business customers, while close to 40% of its current account customers would continue to qualify for maintenance and transaction-free banking.

The bank is also extending the period in which it is providing Contactless payments free of charge until February 2014.