Another week, another bank settlement with the Revenue over the DIRT scandal. This time, it was Ulster Bank, whose chairman Sir George Quigley was one of the more forthcoming witnesses during the investigation into non-payment of DIRT on bogus non-resident accounts during the hearings by the Dail's Committee of Public Accounts.

Again, the bill comfortably exceeds the bank's expectations - £1.7 million (€2.2 million) before interest and penalties - compared with an estimate at the time of the hearings of "`less than £900,000". In total, the bill comes to £4.2 million.

To be fair to Ulster, now owned by Royal Bank of Scotland but then part of National Westminster Bank, it has taken the decision to accept the blame for any internal mistakes in the past. It has also conceded the collection of DIRT and the accuracy of the relevant paperwork was its responsibility - in sharp contrast to some of its larger rivals.

Like its fellow institutions, the question remains whether it will be the shareholders of Royal Bank of Scotland or the customers who will ultimately pay the price of the tax settlement. The customers, particularly those whose accounts have been identified as being among those bogus non-resident accounts, still face action on an individual basis from the Revenue. So much for maximising their savings . . .