AIB to pay €30m for overcharging

AIB said last week it is paying €11 million in restitution to customers and €20.6 million to charity, representing money owed to customers that could not be identified.

Since the investigation was launched in 2004, a range of issues had been identified and dealt with. However, two major issues were uncovered later on in the process and required further investigation.

These related to specific instances of using incorrect margins or overcharging on FX transactions in the early 1990s and other