AIB faces prospect of further repayments

AIB is to again face the prospect of repaying customers who it overcharged for foreign exchange.

The bank is conducting an investigation into the practice of some branches charging more than they should have for foreign exchange.

It is unrelated to the major probe last year which resulted in the bank making repayments of €34m.

AIB says the amount of money involved in the latest probe is much smaller, but it has declined to disclose a figure. It is understood so far the overcharging relates to less than ten branches.