Barclays has said it will pay out compensation to everyone to whom it sold payment protection insurance and who made a complaint before 20 April. Customers will be reimbursed the total value of all premiums plus 8% interest.
“We can confirm that we are contacting customers whose complaint was put on hold on or before 20 April with an offer to settle their complaint in full as a gesture of goodwill,” the bank said.
Which? chief executive Peter Vicary-Smith welcomed this move. “It’s fantastic to see Barclays stepping up in this way, acknowledging their mistakes and refunding customers what they’re owed, no questions asked,” he said. “Hopefully this will have a domino effect and other banks will follow suit,” he added.
Read the story here: Barclays settle PPI claims