Barclays begins refund programme for some customers in arrears
Barclays has commenced a refund programme for some customers with who have been in financial difficulty since 2013.
In a statement on its website, the bank said that, following a review, it found that from October 2013, it “didn’t always provide the service we should have to some customers who were over their borrowing limit or behind in their loan or card payments”.
The bank apologised, and added it will return interest and charges to those who might have been affected.
The average refund is around £300 and in most cases, the refund will be provided by reducing the customers’ debt.
The bank said affected customers do not need to do anything, and it will be writing to those affected to explain their refund, but warned “it will take some time to get in touch with everyone”.
Barclays has not given details about the reasons for the refunds, but did say it was “working collaboratively” with the Financial Conduct Authority (FCA) to address the problems.
The accounts affected include overdrafts on current accounts, loans, Barclaycard accounts and partner finance accounts, such as those for car finance.
A helpline – 0800 328 6932 – has been established for affected customers.