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Lloyds Bank -Underpaid Cash ISA interest 2011/12

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HUMBUG Posts: 469 Forumite

4 December 2017 at 2:07AM in Savings & investments

Thought I'd mention this as I received a letter out of the blue from Lloyds Bank relating to an old '2 Year fixed cash ISA' I had with them back in 2010/12 (yes, over 5 years ago). This was transferred to another provider after maturity in 2012 and I thought nothing (foolhardy) about checking the interest that they should have added to my account prior to the transfer. Apparently they underpaid interest amounting to over £100 at the time and have now sent me a cheque + 8% interest (as compensation). If any other savers had similar cash ISA's with Lloyds at this time , I would seriously think about checking the gross interest (if you still have your old statements) that was due to you , especially if you transferred it to another provider on maturity. I suppose I am lucky that Lloyds Bank have come clean on this issue even after a 5 year delay but this happened to me before under Halifax too. There must be something wrong with the algorithms they program in their accounting systems.

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Lloyds Bank -Underpaid Cash ISA interest 2011/12

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