It is impossible to change the user's password to the same symbols combination as used previously. Attempt fails with an error:
PBA reported error while trying to update account member password. Error: -1, 'The new password cannot be accepted. The entered value is the same as one of the 5 previous passwords. Please, provide another password.'
even though the password policy is set to "None".
This is built-in system check in PBA-E, implemented to fulfill the PCI Compliance requirement, no way to turn this check off or change this setting.