AIB overcharges on some tracker mortgages
AIB is to return almost 400,000 to customers who have been overcharged on tracker mortgages.
The bank says it is in the process of writing to all customers who have been affected.
The overcharging affects 436 of AIB's mortgage holders, with the average refund being 906.
In a statement to RTE News, AIB said it offered different tracker rates to customers based on the loan to value ratio of their mortgage.
The error happened when customers were charged an interest rate that did not match the loan to value ratio on their account.
It is not yet clear when the problem emerged or how long a period the overcharging went on for, but the bank says the Financial Regulator has been informed of the mistake.
Earlier this week, it emerged that almost 120,000 of Bank of Ireland's customers had been charged twice for transactions carried out on their laser cards late last week.
RTÉ Business: AIB overcharges on some tracker mortgages