MSE News: First Direct starts refunding customers over paperwork blunder

JJB223

So I contacted first direct this morning, and although they would not say for sure if I would get a refund the bloke did say that from looking at the loan details it is highly likely it was affected and would be getting money back from the date of the first annual statment through to settlement date,

They expect the refund process to take up to 3 months

JJB223

has anyone who has a close loan account or no longer banks with FD heard anything from them yet

JJB223

Has anyone received any letter or refund from first direct yet, especially customers with closed accounts

springle_ring

I still bank with first direct but have paid back the loan I had a few months ago. I haven't heard anything yet but understand that they have just finished with those that have an active loan. Maybe I'm in the next batch?

JJB223

thats my understanding too, they have completed the active loans, then existing customers with closed loans then lastly ex customer with closed loans

redpete

rizla_king wrote: »

Not all consequences are equal. The consequence of breaking this law is that you have to refund the interest you illegally charged. No getting around that. Tough. Get over it.

People are entitled to state their opinion that, in this case, the law is an !!!.

How about companies who arrange their business so that they pay very little tax in the countries in which they operate. These arrangement are legal so should the attitude there be "Tough. Get over it"?

marble

JJB223 wrote: »

Has anyone received any letter or refund from first direct yet

Got my letter today (active loan and current customer). Refund to follow in 7 days to be paid into the firstdirect account the loan payments were taken from.

JJB223

good to here they are progressing with the refunds marble. though FD advised they had completed all the active loans and moved onto the closed accounts, guess thats not the case yet