AIB rivals reassure customers of charges

AIB's main rivals have insisted there is no risk of them repeating the overcharging scandal.

It follows the disclosure that customers of AIB are owed €14m paid out in excessive foreign exchange charges since the mid 1990s.

This afternoon, Bank of Ireland has reassured customers it uses a different software system to AIB and is absolutely confident there is no issue with incorrect charging.

National Irish has said it is confident its systems are fully functioning and that all current procedures and practices in relation to fees and charges are fully compliant.

Ulster Bank said it is satisfied that charges are being correctly applied and sees no reason to suggest otherwise.

However it intends to carry out a recheck of all systems to ensure there is no overcharging.

The Irish Bank Officials' Association has said the scandal is another damning indictment of the banking industry in Ireland, and wants to see an independent investigation carried out.