MoneySavingExpert.com is warning former and existing Barclaycard customers not to throw out any unexpected post from the credit card giant as it could contain a cheque worth up to £300.
The consumer website, founded by Martin Lewis, explained that customers are receiving payments of around £70 on average. However, they have also been contacted by one money-saver who received a bumper payout of £300.
Refunds are being issued for incorrect interest and fees charged to some customers who were with the lender in the “few years” leading up to 2018. There could also be interest added on top as well as a deduction for income tax.
Money Saving Expert said former customers are likely to get a cheque while current customers may see the money transferred directly into their accounts.
Are you due a refund from Barclaycard?
Barclaycard hasn’t confirmed exactly how many people have been affected by this issue - or how many payouts it is making.
If you are due a refund, Barclaycard should write to you “in due course” by post or email - providing it has your correct contact details.
If you’re still with Barclaycard, MoneySavingsExpert,com said you can check this by logging into your online banking via the app or website then selecting “your contact details”.
You can also phone its customer service on 0800 151 0900 to see what details it has for you.
Read the full story on the MoneySavingExpert.com website here.
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