RBS to repay dormant account holders

December 13, 2015 12:46 pm Published by

RBS to reimburse 4,500 dormant account holders

  • 13 December 2015
  • From the section Business

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Royal Bank of Scotland (RBS) says it will reimburse some 4,500 customers, after it wrongly told them that they did not hold a dormant RBS account.

Those affected had applied via a British Bankers’ Association (BBA)-headed scheme which connects bank customers with dormant cash.

RBS apologised for its error, and said that after spotting its mistake it took quick steps to rectify the situation.

The bank says the average amount involved is less than £50.

Customers are now being asked to visit their local RBS bank branch to reclaim the cash owed.

‘Apologise for inconvenience’

“Unfortunately we wrongly advised some customers who had made a request through the BBA Lost Account scheme that they did not hold a dormant account with us,” an RBS spokesman said.

“We are very sorry that this happened and as soon as we discovered this we took steps to correct our error.

“We are writing to all affected customers and asking them to visit their local branch with ID to reclaim their outstanding balance.

“We have apologised for the inconvenience caused and are making sure that we put this right. “

Last week bank chief executive Ross McEwan told the BBC that rebuilding trust in the banking fraternity would take “a long time”.

The bank is 73% government owned, after being bailed out during the financial crisis in 2008.

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This post was written by FSB News