Those who bank with HSBC and First Direct could be in for a pay out of thousands of pounds, after customers are reportedly being sent refunds from a payment error that happened over 10 years ago.
Those who had accounts with HSBC, First Direct, Marks & Spencer or John Lewis Finance between 2010 and 2019 have been receiving payments of £50 in the post. If you were eligible for such a payment, you should have received it by March 2021.
Meanwhile, HSBC has been paying out additional refunds for interest incurred over the same period.
Speaking about the refunds, Martin Lewis explained: "Towards end of the last series, I told customers of John Lewis Finance, HSBC, M&S bank and First Direct customers to expect a cheque in post of they were in arrears 2010 and 2019.
"People were wrongly charged fees and interest and are now being refunded in addition to the refunds last year. It's a smaller group of people than last time that fit these refunds."
Martin advised Brits to be aware of the refunds, and not to immediately mistake the cheque as a scam.
"But if you receive a letter in the post, don't throw it away thinking it is spam," he said, explaining customers should contact their bank to verify it is legit.
"Two people this week told me they received cheques worth £7,000 in the post this week," he said.
"You were overcharged so if you receive a cheque, cash it in as it's your money."
If you think you were due a payment but haven't received it - for example, due to change of name or address - you can contact umbrella company, HSBC.
A spokesperson for the bank previously said: "We always strive to do the right thing by our customers. Regrettably, some historic cases where customers were in arrears at times fell short of this commitment.
"We are taking action to put that right and remediate customers who may have been impacted. Customers do not need to do anything."
We'll be keeping a very close eye on our post from now on...
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