AIB to refund €4m to 40,000 customers after overcharging error

MORE than €4 million is to be refunded to approximately 40,000 AIB customers after the bank admitted to an overcharging error.

The announcement, which will see average refunds of €100, comes just four months after the bank confirmed it had overcharged 400 mortgage holders by almost €400,000.

Reacting to the news, the Financial Regulator said it is to review how it and the banks deal with incidents of overcharging.