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.
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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