Government Stamp Duty charged incorrectly on Credit Cards - Questions & Answers
We have written to some customers to advise that we have incorrectly charged Government Stamp Duty to their credit card account.
If you got this letter these questions & answers may be helpful.
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Why have I received this letter?
When your credit card expired you were not sent a replacement card. We correctly charged you Government Stamp Duty for that year as you had an active card during that time. However, we continued to charge Government Stamp Duty to your credit card account even though you no longer had a credit card.
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I have more than one credit card account how do I know which one is affected?
We have sent you a letter for each credit card account affected.
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What does my total payment include?
Your payment includes a refund of Government Stamp Duty, any additional fees and interest we charged you connected to this error, where applicable, and compensatory interest.
- If your account is open, we have applied your payment to your account.
- If your account is closed, we have applied your payment to a suitable alternative account where applicable.
- If you do not have a suitable alternative account, we have issued a cheque.
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My payment was made into my account, how do I identify this?
The payment reference will appear on your account as “AIB Payment T311”.
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What is compensatory interest?
Compensatory interest is an additional payment that we have provided to you for making this error on your account.
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I am currently in arrears, how will this payment to my account affect my arrears?
Your payment will reduce the total amount of arrears outstanding on your account.
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Has my credit record been affected?
We are currently reviewing the Central Credit Register (CCR) reporting and expect that most customers are not affected. If an update is required, we will write to you separately about this within the next three months. If the CCR record is more than 5 years old, it is no longer available to correct, nor is it visible to any financial institution. The Irish Credit Bureau (ICB) closed on 01 October 2021 and as such, we can no longer correct ICB credit records as they have been deleted.
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What steps have you taken to make sure that this won’t happen again?
We have updated our internal procedures and put additional measures in place to ensure that this does not happen again.
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Has the Central Bank of Ireland (CBI) been told?
Yes, we have told the CBI.
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Who can I speak to if I have a question or want to complain?
If you have a question or want to complain, you can call us on 0818 726 726, between 9am and 5pm, Monday to Friday, excluding Bank Holidays.
Before proceeding please read our Site Use Terms and Conditions, Privacy & Cookie statements which apply to your use of this website. AIB and AIB Group are registered business names of Allied Irish Banks, p.l.c. Registered Office: 10 Molesworth Street, Dublin 2.
Tel: +353 (0)1 6600311 Registered in Ireland: Registered No. 24173 Allied Irish Banks, p.l.c. is regulated by the Central Bank of Ireland. Copyright Allied Irish Banks, p.l.c. 1995