Martin Lewis issues update to HSBC customers on £50 letter
Martin Lewis, Money Saving Expert, had another instalment of his Money Show on ITV to help Britons in their quest to save money. Tonight’s small screen appearance focused on ‘bill busting’, and other money saving tips and Martin answered a question from one concerned Briton. A confused customer wrote in to Martin’s Money Show to inform him of a letter he had received from his bank.
The individual banked with first direct, and recently received a letter in the post, telling him he was being given £50.
The letter was complete with a cheque for the sum, which was a pleasant surprise for the person concerned.
However, he expressed concern that the letter was in fact a scam, and asked Martin how he should proceed.
But those in this situation are likely to be glad to note this kind of correspondence isn’t an attempt to defraud them.
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Such examples of this included people who received letters which were worded in a way which did not engage or help customers who could have struggled with debt.
While it is not yet clear how many customers will be affected, Martin has urged people who do receive the letter to take action.
If a person receives a letter from one of the aforementioned banks, Martin had one warning.
He simply said: “Cash it! Make sure you cash it and don’t bin it!”
Martin also explained that customers affected could receive letters up until March 2021.
As a result, they should keep an eye out for the letter if it drops through the post, and put it aside for safe keeping.
Angellica Bell, Martin’s co-host on the Money Show, described the sum as a “January bonus” which could be particularly welcome for those looking for a bit of extra money this new year.
For those looking out for the correspondence, some have shared the letters they have received.
One read: “We’ve reviewed the quality of service that you received by our Collections and/or Recoveries team and we’ve identified that it did not meet the standard we would expect.
“We’re therefore making a payment to you to compensation for the experience.”
Many people went on to share their success stories with Martin on how they received the letter and were able to receive an additional amount.
One woman named Claire stated both she and her husband received a £50 cheque each which they were able to cash in.
Express.co.uk previously reached out to HSBC for comment on the matter.
An HSBC spokesperson said: “We always strive to do the right thing by our customers.
“Regrettably, some historic cases where customers were in arrears at times fell short of this commitment.
“We are taking action to put that right and remediate customers who may have been impacted.
“Customers do not need to do anything. Those who are due to receive a payment will do so by the end of Quarter One, 2021.”
Martin Lewis is the Founder and Chair of MoneySavingExpert.com. To join the 13 million people who get his free Money Tips weekly email, go to www.moneysavingexpert.com/latesttip
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