Santander EDGE loan

star14

Hi
I have received a cheque for a repaid card agreement. Due to an annual statement not being sent in 2010 they were not allowed to charge interest from that date to end of loan. Should I accept the cheque or query this further? Nothing mentioned about compensation or interest on amount taking so long to arrive???

PeacefulWaters

You've got lucky.

While you could ask them to explain how it's calculated I'd be getting the cheque banked fairly sharpish.

LoidPhil

I received a letter from Santander today along the same lines. I used the Edge card to purchase a laptop from the ill-fated Comet a few years ago. It seems like Santander have dropped a clanger by failing to send an annual statement for the loan in 2010 - not that I noticed nor cared!

There was no cheque enclosed with my letter, the letter instead stating that my refund would be offset against the outstanding balance of the loan. I thought this was strange because I'd settled the balance early a couple of years ago.....or so I thought. I phoned to enquire and they advised me that my account was still in debit to the sum of £0.01, so the account was still active. Anyway, all sorted now, and a nice little cheque on its way to me. Not much, but a nice little surprise nonetheless!

star14

Thank you. Think its time to bank!