AIB customers get that old familiar feeling

Customers at AIB must wonder how the bank has found itself at the centre of a new overcharging scandal just months after closing…

Customers at AIB must wonder how the bank has found itself at the centre of a new overcharging scandal just months after closing the door on a three-year investigation into similar lapses.

The State's largest clearing bank is giving all the appearances of becoming a serial offender on overcharging its customers.

The most recent case dates back to 2000 when 43,000 One to One customers - elderly and disabled customers who were promised free banking by AIB - were overcharged.

The amount involved is, for the bank at least, minuscule.

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In total, customers were overcharged by about €4 million, which amounted to less than €100 per customer.

What is more interesting is that the episode apparently began a full four years before the foreign exchange overcharging incident that triggered a major investigation at the bank.

Ultimately, that investigation discovered that the bank had overcharged customers across 20 different types of transactions

Last September, chief executive Eugene Sheehy said the "thorough and wide-ranging" investigation into overcharging at the bank had been completed.

This had included "a comprehensive review of products and services with the purposes of identifying any shortcomings or issues and correcting them".

At the time, he said: "The bank is satisfied that the investigations have now been completed."

Now it emerges that, as he spoke, the bank was delving into this latest saga. The bank first suspected it had overcharged One to One customers last August.

Noting back in September that the failings identified had been "deeply regrettable", Sheehy said: "I can assure customers that we have learned valuable lessons and have taken comprehensive action to prevent any of these issues arising again."

This week, a bank spokeswoman said: "We're making every possible effort to make sure this does not happen again."

A spokeswoman for the financial regulator, which polices the banks, said it was "deeply disappointed" at the news.

That hardly comes close to what customers at one of Ireland's blue-chip institutions must be feeling.