Friday 28 July 2017

MBNA to refund 500,000 overcharged customers

Thomas Molloy

Thomas Molloy

CREDIT card company MBNA has begun refunding half a million customers who were overcharged over the previous decade while AIB and Ulster Bank are preparing to write to thousands of customers over separate overcharging mistakes amid signs that Financial Regulator Matthew Elderfield is forcing financial institutions to react quickly to fix their errors.

Customers of MBNA, which overcharged them to the tune of €18m, said last week they had received refunds but said there was no explanation about how they were calculated.

AIB will continue to write to customers this week to inform them about refunds.

Irish Independent

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