People who bank with HSBC, First Direct, M&S Banks and John Lewis Finance could be owed up to £ 100 in compensation each, if buyers feel they haven’t received the level of service they expect. ‘they should have.
People who have borrowed money from these banks in the past 10 years are eligible.
The last tip from the money saving expert is that compensation can be refunded if customers feel they have received substandard service.
And despite some confusion after people received out of the blue letters, the offer is indeed genuine, reports Kent live.
The HSBC Group, which includes the four brands mentioned above, said an internal review showed there were cases of customers late on payments not receiving good service.
And according to the MoneySavingExpert website, “examples of bad practice included poorly written letters that failed to engage customers who may have been in trouble.”
For this reason, those affected will receive checks in the post for an amount between £ 25 and £ 100, depending on the quality of service received.
Checks started going out in October and are expected to continue to send until the end of March next year.
What do I have to do?
According to HSBC, you will be contacted directly if you are compensated and should not do anything even if you have since closed your account.
Money Saving Expert has assured those who receive letters not to worry, even if it sounds too good to be true.
They said: “This probably means that a letter, including a check, appears out of the blue, which has surprised some customers who were concerned that it was a scam.
“If you receive a letter and are unsure of its validity, you can contact your lender directly through one of their regular channels to verify its authenticity.”