Friday 15 December 2017

AIB sets limit of €100 for non-EU ATM withdrawals

Charlie Weston Personal Finance Editor

AIB customers travelling outside the EU will be left with limited access to cash.

The bank has defended the decision to restrict the amount of money people using an ATM card abroad can withdraw.

The bank has put a limit as low as €100 a day on foreign withdrawals to stop cards being skimmed -- this is where thieves clone a card when it is used and then empty a bank account of money.

However, no customers were notified of the change, which came into effect on February 18.

The bank said the temporary move was aimed at thwarting the activity of criminal gangs who skimmed the debit card details of some of its customers and were using cloned cards at ATMs in the US and South America.

It said it was not in response to a specific threat but would not say what prompted the move.

The bank did not say how long the restrictions would be in place.

AIB accepted that some card holders "may have been inconvenienced" by the changes and admitted that it had failed to communicate the changes to all its customers.

In a statement, it said: "As a fraud prevention measure and only in relation to countries outside of Europe, AIB has temporarily reduced the daily limit for ATM withdrawals to €100 equivalent."

The bank said it had published a notice on its website advising customers of this change.

Customers can still use their Laser cards at point-of-sale machines in countries outside of Europe.

AIB added: "We do accept and regret that card holders using their debit cards at ATMs travelling to affected countries may have been inconvenienced.

"However, at all times cardholders were in a position to make point-of-sale transactions and were able to avail of €100 equivalent a day rather than the previous limit of €250."

Irish Independent

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