AIB to refund 11,500 clients €3.1m

AIB is to refund €3.1m in payment protection insurance premiums to 11,500 customers — an average of €270 each — after the bank uncovered a “breakdown in its verification systems”.

AIB said it had started to change its processes to eliminate the problem, which it categorised as being processing mistakes.

“AIB confirms that all refund cases in this current issue are focused on breakdowns in its back-office verification systems/processes.”