66,000 customers affected by eight years of overcharging

AIB HAS admitted it will have to refund nearly €35 million to tens of thousands of customers after the full extent of overcharging by the bank emerged yesterday.

For the past three months, investigators from the Irish Financial Services Regulatory Authority IFSRA and the former Comptroller & Auditor General Lauri McDonnell have been trawling through AIB’s dealings with customers going back eight years.

They concluded the total amount owed to foreign exchange customers since 1996 now stands at €25.6 million.