MSE News: Tesco starts refunding customers over paperwork blunder

d70cw6

both myself and my wife received separate cheques for £11.66 for them being 2 weeks late in producing a loan statement for our joint loan. Happy and surprsied!

eddiejones

So I took out a loan earlier this year - does that mean I'll receive a cheque?

Annoyingly, I literally moved house yesterday and haven't yet updated my address which might scupper me a bit!

moohound

Does anyone know how long this process is going to take?

My OH had a £19000 loan for a car with Tesco over 4 years starting in 2008 and we haven't heard anything as yet.

paye

I had a credit card with them with them from about 2011 to about 2012, hope I get something through. i've also moved addresses so hopefully they can track me down as I have a mortgage with them.

DSmiffy

A friend of mine has just received a refund of £4k today after receiving a letter stating he is being refunded due to late statements being sent out. His payment is from a loan company for car finance. He tells me that Tesco Bank are also paying out to people with credit cards who have received late statements and so incurred charges or interest.

Found this link about it today on the internet but not much else. http://www.thisismoney.co.uk/money/comment/article-2817035/JEFF-PRESTRIDGE-Payback-time-Tesco-Bank.html

Just wondered if any others have had any refunds yet and if so where from as the article does not state all the financial houses involved.

Had a quick look on forum but couldn't see anything relating to this but I may be looking through the wrong threads

absolutelybrassic

I had a large loan with Tesco during the period concerned but I haven't been contacted. I've spoke with them by phone but was just told that all affected customers will be contacted and I needn't do anything. Getting concerned now as it's five months since this all started and I haven't heard a thing

home_bird

Interesting.....My husband has a Tesco credit card and I can remember two occasions when I have had to contact Tesco for a statement, no interest incurred only because I am so careful and know when to expect statements. Haven't heard anything so far, wonder if we will...

Hyzenthlay

I have a Tesco credit card and receive my monthly statements online. The only thing they forgot with me is they didnt send me my annual statement. I received my first one last November 2014, I didnt get one November 2013. Dont know if they are a legal requirement or not, but I do find them quite informative.

julmops

I've received 2 letters from Tesco Bank this weekend regarding the 2 loans I had with them and got 2 cheques for a total value of £1700 !!! I was so surprised and happy !!!

Robbie414

Hi,

I previously had a letter with a cheque for £26 regarding the redress, it said I had six months to cash the cheque. For whatever reason I forgot to cash the cheque, despite receiving a reminder to do so from Tesco. Today, over 6 months later I receive a new letter with an increased amount of £192.21 saying they have noticed I did not cash the previous cheque and that this one replaces it.

I'm just wondering, why the increase and would I have received this extra amount had i cashed the original first cheque?

Thanks
Rob