Final hours! Save up to 55% OFF InvestingProCLAIM SALE

Danske Bank's compensation to overcharged customers faces delays

Published 06/30/2021, 08:31 AM
Updated 06/30/2021, 08:36 AM
© Reuters. FILE PHOTO: Danske Bank sign is seen on the Estonian branch building in Tallinn, Estonia January 22, 2019. REUTERS/Ints Kalnins

COPENHAGEN (Reuters) - Danske Bank's process of compensating clients, from which the lender has wrongly collected debt, is expected to extend into 2022, the bank said on Wednesday after discovering additional customers potentially eligible for compensation.

© Reuters. FILE PHOTO: Danske Bank sign is seen on the Estonian branch building in Tallinn, Estonia January 22, 2019. REUTERS/Ints Kalnins

"The issues arising from data errors in the bank's debt collection systems are of such magnitude and complexity that the work to correct the errors and to give our debt collection customers a final clarification will extend into 2022," Danske said in a statement.

Danske, which has so far identified about 6,300 customers to compensate as a result of the over-collection, said the number of clients potentially eligible for compensation could increase by 10,000-15,000.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.