Received a cheque from M&S Bank and don't understand why

WhataCrock

I've received a cheque unexpectedly from M&S Bank and have no idea why.

I contacted M&S before the PPI deadline about a credit card I had with them to check whether I had been missold PPI. They came back to me at the time and said PPI had not been sold to me in connection with their credit card.

Fast forward two/three years later and I receive out of the blue a cheque with a letter saying "we have reviewed the fees and interest applied to accounts in collections and/or recoveries . As a result we have identified some of the charges (fees and/or interest) to [your] account whilst in collections or recoveries should be refunded......"

Can anyone explain what is going on? Has M&S Bank done this voluntarily or were they made to do it by some regulatory body following a consumer complaint?

Are there any other banks that may be holding onto money that they shouldn't?

Thank you.

k3lvc

It happens occasionally after internal audits/reviews and is unlikely to be anything to do with PPI. Treat it as a bonus when it happens but it's certainly not a sign that you should be writing to all your other card providers claiming they owe you money.

I had one from Tesco a few years ago due to some error on paperwork that I could never have been aware or, nor did it impact me 

[Deleted User]

They sometimes realise they made mistakes e.g. due to an incorrect clause in your account, couldn't charge you interest for a period even though you obviously should be paying it, then they do a refund and usually alert the FCA. Just cash the cheque, if you never had PPI (and it would have been shown on every bank statement you received so you'd have known if it was charged) then there is nothing to refund