Martin Lewis Sends Out Urgent Warning To People Using Barclaycard Account
We'll be keeping an eye on this!
Money Saving Expert founder Martin Lewis has issued an urgent warning to Barclaycard account holders.
Speaking on his ITV show this week, the finance broadcaster warned that all current and former Barclaycard customers should check their post.
Martin was speaking to viewers in a segment of his show called "Time For A Quickie... Or Three?" when he shared the warning.
The presenter said: "This is the warning for Barclaycard current or ex-customers.
"Do not bin its post. It's sending out payments for incorrect interest and fee refunds for some pre 2019 repayment plans.
"The average payment is £70 - some may get up to 300 quid. It's paid by cheque, by transfer or to the card.
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"So don't throw your post away if you're a Barclaycard former customer or current customer."
Barclaycard found in a recent review that customers who took out a repayment plan in recent years may have been overcharged, and are now looking to repay them.
You could very well be throwing money owed to you straight in the bin if you're not careful!
The company hasn't yet confirmed approximately how many people have been affected by this mix-up, or how many payouts they will be making to customers in due course.
Those entitled to a refund will either be sent a cheque in the post or receive a direct transfer, depending on your balance and whether you are still a Barclaycard customer.
If you hold a Barclaycard with a balance, you'll likely receive a direct refund to reduce your card balance. but if you hold a Barclaycard with a zero balance, or are no longer a Barclaycard holder, it's more likely that you will be sent a cheque or an electronic payment transfer.
It might also be in your interest to check that Barclaycard has your most up-to-date contact information.
Customers will either be written to by post or email, so it could be worth your while to log on to the website or phone customer service and check that your information is up to date.
Featured Image Credit: PexelsAli Condon