HSBC and Santander broke text notification rules for overdraft fees, says CMA – some customers due refunds

29/11/2019 Thousands of HSBC and Santander customers could be due refunds for unarranged overdraft charges.

The Competition and Markets Authority (CMA) has said that HSBC and Santander owe thousands of customers refunds after they didn’t send text messages that would allow people to avoid unarranged overdraft charges.

The banks first broke the rules in February 2018.

The CMA has said the banks should refund all fees incurred by customers who went into unarranged overdrafts without being warned in time to take action.

The refunds due to customers depend on how much they were charged for being overdrawn.

The banks in question will be contacting their customers to let them know if they’re due a refund.

For more information, you can consider contacting Santander and HSBC via Resolver.