Hi Brian

1) They calculate how much you would get under the Ombudsman Scheme which is

- A write down of 12%, plus
- the interest charged on that write-down.

2) They calculate the total redress under the Central Bank Scheme which is , in simplified terms

- the interest overcharged on the account , plus
- Time Value of money on the overpayments - which is about 5% of the interest overcharged,plus
- Compensation of 15% of the the interest and the TVM

3) Your total package will be the higher of 1) or 2) + €1,230 for legal advice

So, 2) should be calculated using 15% and not 7.5%. I would say that this is an oversight by AIB and you could probably rectify it with a phone call or simple letter of enquiry.

Get the right automatic figure first. And then decide if you want to appeal for more.

However if 1) is higher than 2) using 15% , it wouldn't matter if they used 7.5%.

Brendan