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Bank lost savers money i the past. Should the rectification include inflation correction ?

dodgyhodgy · 2024-12-03 09:49:17

I was an executor for my mother's will a few years ago. I sent cheques to the beneficiaries having collected together monies from the estate.One of the beneficiaries (my sister), who is of questionable attention to detail, paid her cheque into her bank account (she knows she did it because she diarised the event). Now,…

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Jenni_D Posts: 5,435 Forumite

4 December 2024 at 12:39PM

dodgyhodgy said:

I was interested to hear of the FOS flat 8% - that would have returns better than the BoE calculator I cited originally.

8% flat rate interest on £10,000 is £800, so the BoE calculator gives a much higher value as it is (probably) using 8% + BoE base rate compounded for each year.

Jenni x
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