BoI pays out 326,000 after error

David Clerkin

Almost 90,000 personal and business customers were affected by the error, which mainly related to transactions carried out before 1998. The bank identified two business customers in line for refunds of more than E500, but said “the vast majority” of cases involved amounts of less than E2.

The bank’s computer systems mistakenly applied a higher fee to automated transactions that were processed by phone or online.