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Forgotten ATM money: Will you get a refund?

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Hundreds of thousands of customers at HSBC, Royal Bank of Scotland and NatWest are set to automatically receive compensation for money they may have forgotten at a cash machine. We explain why.

 

Some of Britian's biggest High Street banks, presumably keen to put their house in order following the repeated scandals of recent years, have promised to reimburse customers who forgot to pick up their money when making a withdrawal from its ATM.

 

What's been happening?

 

When a customer forgets or is too slow to take money issued by a cash machine, it is "sucked" back into the dispenser. Most banks then automatically refund the money to the customer. However, some banks have followed a policy of 'manual' reclaiming.

 

Which are the banks affected?

 

Royal Bank of Scotland, which owns NatWest, and HSBC have been in the news recently because both had a policy of only refunding forgotten money if customers asked for it.

 

Link: http://www.telegraph.co.uk/finance/personalfinance/consumertips/9767421/Forgotten-ATM-money-Will-you-get-a-refund.html


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