AIB wishes to advise of a process error that we have rectified for identified impacted customers who applied to top-up their personal loan over either telephone or Internet Banking.
For customers who had successfully applied to top-up their loan, we made additional funds available, where we credited accrued interest owed from the previous loan to the customer’s loan account. While the customer did receive this amount as new money, it was an error. As this was a mistake, any interest charged in relation to this will be repaid. The average interest to be repaid in relation to each top-up is €25.
AIB is also reducing customer loan balances relating to interest amounts for previous loan top-ups as a result of this matter. The average loan balance reduction per top-up is €75. Where accounts are closed, these amounts will be repaid to relevant customers.
AIB apologises for this process error and any inconvenience it may have caused to our customers. We will be writing to all impacted customers, and customers who are due a refund do not need to take any action. All account corrections and refunds will be complete by early August.
If any customer feels this error adversely impacted on credit decisions by AIB or other financial institutions, we will work with those customers to address the matter.
If customers wish to talk to us about this matter we have a dedicated number: 0818 300 072 (9am to 5pm Monday to Friday).
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