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Bank Error in your favour collect £30

Law of banking - cheques, PPI etc. Insurance, Financial Services/

Bank Error in your favour collect £30

Postby tph » Wed Jan 07, 2015 11:20 pm

Thought I would share this with you.

I received a letter from a bank about a loan I repaid a couple of years ago. During the period of the loan the bank failed to issue an annual statement on time (not that I noticed). Apparently if they fail to issue the annual statement on time they are not able to charge interest on the loan until a statement is issued.
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Re: Bank Error in your favour collect £30

Postby dls » Thu Jan 08, 2015 7:28 am

. . but they also charge you for the letter with the annual statement.

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Re: Bank Error in your favour collect £30

Postby Millbrook2 » Thu Jan 08, 2015 8:24 am

Same thing happened to me, can't remember how much but more than the £30. As the account was overdrawn awaiting repayment from the proceeds of a house sale the refund was particularly welcome.
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