Overcharging banks - Consumers suffer again

A SURVEY, compiled by ValueIreland.com since July 2004, indicates a range of banks, service providers, and insurance companies have been exposed as overcharging 1.6 million Irish customers by at least €623,943,892, over the past four years.

In April 2005, Bank of Ireland admitted that it had not refunded customers who had overpaid for insurance cover on car loans.

It estimated that there were a total of 65,000 loans involved in that error. It agreed to refund all the customers a total of €15m.