Thousands of Northern Rock members affected by a “stupid manual error” are to receive compensation.
Around 200,000 borrowers had their mortgage payments debited a week early at a cost of about 25p per account.
The affected will receive this amount plus any bank charges incurred as a result of being unexpectedly overdrawn.
Northern Rock PR manager Ron Stout says the debiting of mortgage direct debits a week early on December 4 was due to “a stupid manual error”.
Stout also says: “We have put checks in place to ensure this kind of error does not happen again.”