Allied Irish Banks PLC on Monday said it overcharged around 40,000 customers by a total of 4 million euros ($5.5 million) by classifying personal accounts as business, and vice versa, and applying the wrong fees.

The average refund is expected to be 100 euros a customer. Last September, AIB said it overcharged mortgage customers a total of 395,000 euros after offering different tracker rates to customers based on the loan-to-value ratio of their mortgage.

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