KBC Published Incorrect Interest Rate on Customer Statements

[Lightning]

The Irish Examiner has the story here.

There have been other reports on AAM of problems with KBC postal statements.

 

[Brendan Burgess]

But it seems to be a non-story to me?

"An internal review, conducted in April, found that while the correct interest rate was being applied to accounts, 7,000 customer statements showed an incorrect rate printed, suggesting 1% more was being paid."

They paid the correct interest, but they just had the wrong rate on the statements.

 

[Lightning]

Whilst publishing the wrong rates on their website would probably constitute a more serious situation, sending letters to customers with the wrong rates that they are being paid is an issue.