APS Bank removes charges on online SEPA payments, improves interest rates

With effect from 1 June, 2023, APS Bank plc has removed its charges on online SEPA payments and introduced improved interest rates for the APS Online Account.

This move, applicable for both existing and prospective customers, reflects the Bank's unwavering commitment to offer a simple and personal banking experience.

With these improvements, customers are no longer being charged for either sending SEPA outward payments through myAPS or receiving funds through SEPA inward transfers.

Similarly, fees are being removed for all new standing orders. Corporate customers will also no longer incur the transfer cost of SEPA direct credits for bulk file payments, or transaction costs of SEPA direct debits.   

The APS Online Account is now offering enhanced interest rates of 0.50% p.a. for the first €4,999.99, increasing to 1.00% p.a. for balances between €5,000 and €25,000.

Anthony Buttigieg, Chief Banking Officer stated: “We felt that it was time to take our customer experience to a new level, this time by removing charges and fees that come in the way of developing strong primary banking relationships. This is a decision of particular benefit to those who make or receive frequent payments, such as corporate customers.”