AIB overcharged personal and SME customers €61m

Brendan Burgess

Disclosed in today's half-year results

AIB revealed on Friday in its first-half report that it has taken a €61 million to cover personal and small business customer refunds and costs to itself after finding an issue in loan documents.

The 71 per cent State-owned bank sent a notification to tens of thousands of personal customers in recent weeks saying it had made a mistake in loan documents where borrowers topped up existing loans through AIB branches.

The bank incorrectly excluded interest outstanding on initial loans when drawing up new agreements to cover the top-up amount, but continued to charge the amount.

“While the customer did owe this amount from the previous loan, as it was incorrectly omitted from the credit agreement, this amount, and associated interest, does not have to be repaid,” it told customers in a letter that has also been posted on its website.


New Member
I got credited three different amounts, (almost €500 euro in total) on Tuesday. My current account read "T267 correction" I talked to the bank they said that I will be sent a letter explaining this situation and that it was to do with overcharged amounts on my loans.

I currently have a complaint lodged with the ombudsman about my tracker mortgage situation. I must say though that, I am absolutely disgusted that even more possible errors were made with my accounts.


New Member
I'm currently in the tracker redress issue, this will make the sixth issue I have had with AIB in the space of ten years.
3 upheld by the FSO, 2 are very serious outstanding issues and now this, I am absolutely exhausted and exasperated by AIB at this stage!

Does anyone trust that they have gotten this right?
The letter is ambigous and doesn't state how they have overcharged or give the detail on same, it just says whoops we overcharged you, this is the second time on this loan account.

How are they still in business, where is the regulator in all of this?

There are very serious questions here about their fitness to practice as a Bank!

How many times can you say "We're sorry"!!!

This would be funny, if it wasn't so serious!


Frequent Poster
My SIL discovered a lodgement on her AIB account - they told her they are sending her out a letter.

Myself, I'm on my second overcharge on a loan and when they calculated that they made an error because they didn't realise about the earlier overcharge so they are recalculating for a third time and sending me more money any fine day now.

I queried their calculations, which they have not sent me, as I want them to pay me to pay someone to do their calculations, and in the same letter refusing this they tell me :

- we are satisfied with our remedial calculations
- your refund amount has been tested and validated
and on the next page
- 1st over charage, 2nd overcharge , the review incorrectly treated your account, wrong dates, and now an additional refund (no 3)

and I'm supposed to accept this from them when they got their own calculations wrong. Again.

Hilariously they have sent me no actual calculations (which I asked for) they told me instead:

- please find enclosed a guide as to how they do calculations
- the calculation of refunds can be lenghty and complex ... guide... is a simplified example

Me I want my actual figures.