Allied Irish Banks Overcharged 40,000 Customers Four Million Euros

About 40,000 customers of Allied Irish Banks have been overcharged to the tune of four million euro

Monday, 8 February 2010
www.belfasttelegraph.co.uk

About 40,000 customers of Allied Irish Banks (AIB) have been overcharged to the tune of four million euro, it has been revealed.

The bank discovered it had applied business rates to some personal account holders and vice-versa for several years.

It is estimated tens of thousands of customers can expect refunds of on average 100 euro each after being hit with increased fees and the wrong interest rates.

“An element of the account classification process has been found to be vulnerable in some cases, resulting in accounts being mistakenly entered into the wrong category,” the bank said.

“This means that some personal accounts may have been classified as business and some business accounts as personal.”

The overcharging was identified in November 2008 and the Financial Regulator informed. Read more…

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