By Tony Winterburn • 19 January 2021 • 10:01
HSBC, First Direct and M&S Bank Customers To Receive £50 Refunds. image: Pixabay
Thousands Of HSBC, First Direct and M&S Bank Customers To Receive £50 Refunds.
If a cheque for £50 happened to come through your letterbox, with no prior warning, you would have every right to be a bit sceptical about the validity of it. Luckily though for thousands of bank customers across the UK, it is a totally legitimate payment.
If you banked with HSBC, First Direct, M&S and John Lewis Finance, between 2010 and 2019 and you were in arrears at some point on one of their debt products – mortgage, credit card, loan and others, HSBC, which runs all three accounts, has admitted its customer service was in the wrong, so it’s automatically issuing compensation. These cheques are being sent out until March. If you receive one, do not bin it- they’re worth £50 cash in the bank!
Borrowers who fell behind on repayments between 2010 and 2019 are due up to £50 in compensation after the bank admitted it delivered a substandard level of service over the nine-year period.
HSBC Group, which all four brands come under, said an internal review uncovered instances where customers in arrears hadn’t received the quality of service expected. Last year, it decided to put this right. HSBC has not actually confirmed exactly what it did wrong but said examples of bad practice included poorly worded letters that didn’t engage customers who might have been struggling to make repayments.
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