‘Compensation where appropriate will be paid’published at 12:41 GMT 26 March<\/p>\n
12:41 GMT 26 MarchBreaking<\/p>\n
Bell says NS&I has reviewed over 34m customer records, and it points to up to a maximum of some \u00a3470m in deposits – and around 37,500 customers – affected.<\/p>\n
This number is likely to fall in future and represents less than 0.2% of NS&I’s customers, he says, but “it is still far too many”.<\/p>\n
“It is right that NS&I is apologising today.”<\/p>\n
He says the government’s priorities are now three-fold – first, that the causes of the tracing issues are addressed and a solution is found. <\/p>\n
Second, is to reunite beneficiaries of late customers with “any funds that NS&I holds”. <\/p>\n
“These deposits belong to customers – returning them in no way presents an additional liability to the taxpayer”.<\/p>\n
He says the savings are “100% safe” – the issue is tracing, not the security of funds.<\/p>\n
Bell now says additional staff has been brought on to help track and deliver the savings, including interest.<\/p>\n
Work will be done to ensure that “compensation where appropriate will be paid”, he says, with the onus on the bank not customers.<\/p>\n","protected":false},"excerpt":{"rendered":"‘Compensation where appropriate will be paid’published at 12:41 GMT 26 March 12:41 GMT 26 MarchBreaking Bell says NS&I…\n","protected":false},"author":2,"featured_media":496427,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[14],"tags":[84,4176,4174,4175,56,54,55],"class_list":["post-497365","post","type-post","status-publish","format-standard","has-post-thumbnail","category-personal-finance","tag-business","tag-finance","tag-personal-finance","tag-personalfinance","tag-uk","tag-united-kingdom","tag-unitedkingdom"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/497365","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/comments?post=497365"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/497365\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media\/496427"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media?parent=497365"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/categories?post=497365"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/tags?post=497365"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}