Sunday 19 November 2017

KBC Bank admits error

KBC Ireland
KBC Ireland Newsdesk Newsdesk

Around 7,000 customers of KBC Bank were mistakenly told they were getting a higher interest rate on their savings than the rate that was paid.

The back of customers' statements said they were being paid 1pc more than the correct rate.

The bank said the issue came to light following a review by the bank in April.

It found while it had applied the correct interest rates to accounts, an incorrect rate was printed on the reverse of customers' statements.

The bank said the error was rectified immediately and new statements were issued to customers and "no customer was adversely impacted or lost out financially in any way".

KBC Bank said it informed the Central Bank about the issue.

Irish Independent

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