Africana55 Radio 
English
Afrikaans
Albanian
Amharic
Arabic
Armenian
Azerbaijani
Basque
Belarusian
Bengali
Bosnian
Bulgarian
Catalan
Cebuano
Chichewa
Chinese (Simplified)
Chinese (Traditional)
Corsican
Croatian
Czech
Danish
Dutch
Esperanto
Estonian
Filipino
Finnish
French
Frisian
Galician
Georgian
German
Greek
Gujarati
Haitian Creole
Hausa
Hawaiian
Hebrew
Hindi
Hmong
Hungarian
Icelandic
Igbo
Indonesian
Irish
Italian
Japanese
Javanese
Kannada
Kazakh
Khmer
Korean
Kurdish (Kurmanji)
Kyrgyz
Lao
Latin
Latvian
Lithuanian
Luxembourgish
Macedonian
Malagasy
Malay
Malayalam
Maltese
Maori
Marathi
Mongolian
Myanmar (Burmese)
Nepali
Norwegian
Pashto
Persian
Polish
Portuguese
Punjabi
Romanian
Russian
Samoan
Scottish Gaelic
Serbian
Sesotho
Shona
Sindhi
Sinhala
Slovak
Slovenian
Somali
Spanish
Sudanese
Swahili
Swedish
Tajik
Tamil
Telugu
Thai
Turkish
Ukrainian
Urdu
Uzbek
Vietnamese
Welsh
Xhosa
Yiddish
Yoruba
Zulu
This website uses cookies so that we can provide you with the best user experience possible. Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping our team to understand which sections of the website you find most interesting and useful.
Martin Lewis appeared today on BBC Radio 5 Live with presenter Nihal Arthanayake to discuss a whole host of money-related issues. He provided an important update for a wide range of banking customers who will need to keep an eye out for correspondence they’re set to receive soon. Martin informed listeners there is an important letter set to appear in the post for many, which contains a £50 cheque.
Customers and former customers of HSBC, first direct, M&S Bank and John Lewis Finance could be due for a payout.
Those who banked with these providers between 2010 and 2019 who were in arrears on debt products, including credit cards, mortgages and loans, are likely to be affected.
This is because the HSBC Group, which oversees the providers, recently admitted their customer service was not adequate.
As a result, the group will be sending out compensation of up to £100 to those who have been impacted.
READ MORE: HMRC warning: Britons conned by ‘tax rebate’ text scam - key warning
As a result, Martin has issued the update about the letters these customers can expect to receive.
He urged Britons to cash the cheque they get in the post as soon as possible, or put it aside for safe keeping.
While letters first started to appear in October 2020, affected customers could receive letters up until March 2021, and so people will need to keep an eye out for a while longer.
People will not need to do anything to receive compensation, as they will be contacted by their bank, or former bank, directly.
For those who are worried about not being contacted because they have moved home, Martin has provided important guidance in his recent newsletter.
He advised Britons to get in touch with their provider should they feel they are entitled to receive a sum.
In addition, if someone is unsure as to whether a letter they receive is genuine, they should contact their lender to confirm it is legitimate.
It is not known how many people in total are in line for a payout from HSBC Group at present.
Express.co.uk previously reached out to HSBC for comment on the matter.
An HSBC spokesperson said: “We always strive to do the right thing by our customers.
“Regrettably, some historic cases where customers were in arrears at times fell short of this commitment.
“We are taking action to put that right and remediate customers who may have been impacted.
“Customers do not need to do anything. Those who are due to receive a payment will do so by the end of Quarter One, 2021.”
Martin Lewis is the Founder and Chair of MoneySavingExpert.com. To join the 13 million people who get his free Money Tips weekly email, go to www.moneysavingexpert.com/latesttip.
Martin Lewis appears on BBC Radio 5 Live every week from 1pm.