Refunds due for banking customers


This 320-word blog post explains why Lloyds Banking Group is refunding money to 200,000 savings account customers and why it serves as a reminder of regularly shop around for a better interest rate on your cash savings. Written on 26th April 2019.

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Article preview: Customers of Lloyds Banking Group are due to receive refunds of around £10 million following longstanding administrative errors. The refunds are due to around 200,000 customers of the banking giant, who missed out on interest payments over the past seven years. It follows a failure by Lloyds to tell its customers with Halifax, Bank of Scotland and Lloyds savings accounts that it had cut interest rates, starting in 2012.