We use a minimal number of cookies to enhance your browsing experience - you can change your settings at any time.
The UK's only Multi Agency Credit Report

Take a FREE 30-day no obligation trial of the UK's best rated credit report service.

Forgotten Password? Not a Customer? Sign Up

FREE Multi Agency Credit Report

See more than twice the information compared to any other UK Credit Report

Our Credit Report Monitoring service features:

Multi Agency Credit Reports

FREE checkmyfile Credit Scores & Ratings

FREE Identity Theft Assistance

Independent, Impartial, Expert Advice

See your Credit Report FREE

30 Day Trial - Cancel Anytime


More about Multi Agency Credit Reports

Proud to be different

The UK's most detailed online credit report is backed up with outstanding customer service

‘Lost’ money appears in bank accounts

Posted in 'Banking' by Arron Dickens

27 December 2012

had a nice surprise yesterday when I checked my online banking statement; an unknown credit of £32.15 was showing on my account. As a previous victim of banking fraud, I am very careful about checking through my statements regularly to ensure I recognise any transactions and obviously this unexpected credit caught my attention.

The details of the transaction simply read ‘RBS ATM Refund’, which I naturally stuck into my usual internet search provider to find out what this may relate to. It appears that RBS and NatWest have decided to refund customers who have left money at an ATM machine at any point within the last 7 years. Whilst my partner and I (we have a joint account) do not recall having done this, it is entirely possible this could have occurred several years ago.

An ATM machine will automatically suck the money back into its internal safe after around 30 seconds if the customer does not take the cash; a process known as a “cash retract”. Most providers will refund the amount retracted directly to the customer, regardless of whether or not the customer contacts the bank.

But RBS and NatWest have not previously refunded customers automatically, regardless of the fact they were aware of the money not being withdrawn. They decided instead to stash all of the unclaimed funds in a ‘reserve’ account and only release funds if a customer noticed; and complained.

A spokeswoman for the bank, which is 82% owned by the taxpayer says, “We are proactively contacting our RBS and NatWest customers who, according to our records, at some point have not collected all of their dispensed cash. We will be refunding the value of their transactions in full, with an additional goodwill payment."

RBS and NatWest will be refunding almost 300,000 customers a total of £10 million, including an additional “goodwill” interest payment based on what you would have accumulated in a high-interest savings account over the period that your money was held by the bank. This would indicate an average refund of £33.33, or slightly more than I received.

This is the second compensation scheme to be announced this week. It was recently found that incorrect wording of personal loan statements by Northern Rock will cost the taxpayer up to £270 million in refunds to over 150,000 customers.

Arron Dickens is a Credit Analyst at checkmyfile and has a Bachelor of Arts degree in Business Administration and is an Associate of the Institute of Credit Management. He can be contacted at arron.dickens@checkmyfile.com.

Arron Dickens

Arron has a degree in Business Administration from Cornwall Business School. He is also an Associate of the Institute of Credit Management. He writes mostly on matters relating to personal finance.

Arron is a Product Manager at checkmyfile.

Related Articles

Digital only banks attract scepticism from UK consumers

Earlier this year, Atom became the first UK bank to operate solely through a mobile app. Based in Durham, it has only 30 staff and unlike much larger banks it has no branches or call centres – communication is conducted with its customers securely through a mobile app.

Since their launch, a number of other providers have joined the fray offering similar services for consumers operating through mobile apps or via web browsers.

Verdict Financial, a financial services insight firm, has released their latest report on the subject of digital banks in which they state that UK consumers have not taken to the idea of digital banking. Only 61% of consumers surveyed were even aware of the existence of digital banks and 20% had used a .....

19 Oct 2016 by

Tom Blandford



Full Article

You’ve been awarded compensation…but now pay it back

Just when you thought it was over…it could be coming back with a vengeance.

Yes we’re talking about everyone’s favourite topic – PPI. The latest in this seemingly never-ending saga is that now the Banks may have miscalculated the PPI payments made to customers and are attempting to claw any overpayments back.

The PPI scandal, which has paid out nearly £25bn in mis-sold PPI payments, is now taking an unexpected turn as some of those who successfully claimed back PPI are now being contacted by the Banks demanding they hand back up to £15,000 from as far back as 4 years ago. At this stage it is unclear how many customers could receive these demands for repayment.

Almost 12m customers have claimed payouts as a result of t .....

14 Oct 2016 by

Ben Ryland



Full Article

Abrakadabra! Santander’s 123 Credit Card disappears for new customers

Santander has confirmed that they are scrapping the 123 Credit Card for new customers and limiting cashback for others

6 Oct 2016 by

Ben Tumilty



Full Article

Accepted Payment Methods: VISA, MasterCard and Direct Debit

© Copyright Credit Reporting Agency Ltd 2000 to 2016. All Rights Reserved.

Authorised and regulated by the Financial Conduct Authority (690175)

United KingdomAustralia

Customer Feedback