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Windfall for HSBC customers

There is a windfall for thousands of customer of HSBC. The bank has announced that it will make a payout of £350 million among the customers for a documentation blunder. It is learnt that those customers who have not been affected by the blunder would also get paid. The bank had failed to remind them of their right to partially repay their debt early, breaking banking rules. A spokesperson for the bank said the bank does not believe its customers suffered any detriment as a result, but it has decided to refund interest they paid from the time the bank should have told them of that right. HSBC is contacting customers who took out loans between October 2010 and July 2014.

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