Customer Notice statement for TUK2023/02

We are letting customers know about errors that we have discovered, when reviewing their loan accounts. We have taken action to correct the errors and ensure that it does not happen again in the future.

If your letter mentions unpaid fees…

Between March 2020 and July 2021, we did not offer some customers the option to avail of a Covid Payment Deferral. As a result of this, repayments were missed, and in some cases may have been charged unpaid fees due to the missed repayments. In addition, in some cases, this also affected customers credit records.


If your letter mentions your loan being moved from a fixed interest rate to a variable interest rate…

Between March 2020 and July 2021, a number of customers with fixed rate loans who availed of a Covid Payment Deferral or Loan Restructure were moved to a variable interest rate and not switched back to a fixed rate loan following expiration of their deferral.  Given the increase in interest rates since December 2021, customers have been charged more interest than they would have been had they remained on the fixed rate personal loan account.


If your letter mentions communications about interest calculations…

We looked at the communications that customers received when they entered financial difficulty on their loan account. In these communications, we did not clearly explain how interest would continue to be calculated on their account. As such, all customers affected by this issue will receive a compensation payment for any inconvenience caused.

We will be refunding any customer affected by this error, either with a refund (called ‘AIB 2023/02 Refund) into their loan account, to their AIB current account or by cheque. In some cases, where customers credit records have been affected, we will be updating these records.

Once again, we apologise for this error.                                                            

If any customer feels this error affected credit decisions by us or other financial institutions, we will work with those customers to address this issue.

We have added some questions and answers for more information. Please see here.

If you want to talk to us about this, you can contact us on 0345 646 0428 * any time between 09:00 and 17:00, Monday to Friday (excluding UK and Republic of Ireland Bank Holidays).

* Call charges may vary – please