AIB HAS REPAID over €3.7 million to nearly 7,000 business customers who were overcharged.
The customers had overdrafts with the bank, but were not informed when these expired. This led to 6,855 customers incurring charges of around €543 each.
The bank says that these customers have since been contacted and refunded the money, which it is believed was charged due to an error.
An AIB statement apologised to those affected.
“Following a recent review by AIB of its overdraft product, it was highlighted that a number of issues may have resulted in an unintended error in the amount of surcharge interest and/or fees being charged to the accounts.
“The bank is making refund payments relating to approximately 6,855 impacted customer accounts in relation to this matter. The average refund is approximately €543 including compensatory interest.
“AIB sincerely apologises for this error and any inconvenience caused as a result. The appropriate changes to procedures have been implemented.”
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