Barclays to refund 300,000 customers after admin error - Home News - UK - The Independent
The key part of this is the following:
The issue was revealed in a 185-page bank document in which Barclays stated it “identified certain issues with the information contained in historic statements and arrears notices relating to consumer loan accounts. It is therefore implementing a plan to return interest incorrectly charged to customers”.
A spokesman for the bank said, “Barclays has proactively reviewed information it has historically sent to its customers relating to interest charges where we have found technical documentary errors.
“As a result Barclays has identified certain issues with the information contained in some statements and arrears notices relating to consumer loan accounts.
“Due to these notification errors, interest was not due on certain accounts during the period that Barclays made this mistake, and whilst no one has been mis-sold to, customers are entitled to have their interest payments returned. No customer will pay more than they were ever contractually expected to.
“Barclays has notified the Office of Fair Trading (OFT) which is responsible for consumer credit issues and is implementing a plan to return interest payments to customers as swiftly and efficiently as possible.
“Barclays is undertaking a review of all its businesses where similar issues could arise to assess any related issues.
“Any affected customer will be contacted by Barclays and customers do not need to take any action.”
The key part of this is the following:
The issue was revealed in a 185-page bank document in which Barclays stated it “identified certain issues with the information contained in historic statements and arrears notices relating to consumer loan accounts. It is therefore implementing a plan to return interest incorrectly charged to customers”.
A spokesman for the bank said, “Barclays has proactively reviewed information it has historically sent to its customers relating to interest charges where we have found technical documentary errors.
“As a result Barclays has identified certain issues with the information contained in some statements and arrears notices relating to consumer loan accounts.
“Due to these notification errors, interest was not due on certain accounts during the period that Barclays made this mistake, and whilst no one has been mis-sold to, customers are entitled to have their interest payments returned. No customer will pay more than they were ever contractually expected to.
“Barclays has notified the Office of Fair Trading (OFT) which is responsible for consumer credit issues and is implementing a plan to return interest payments to customers as swiftly and efficiently as possible.
“Barclays is undertaking a review of all its businesses where similar issues could arise to assess any related issues.
“Any affected customer will be contacted by Barclays and customers do not need to take any action.”