HSBC and its sister banks are sending out more cheques worth hundreds of pounds to some customers who fell behind on payments.
It relates to people who were in arrears with HSBC, First Direct, M&S Bank and John Lewis Finance between 2010 and 2019.
The banking group had previously sent out goodwill cheques worth up to £100 for compensation for substandard service - but it is now issuing another raft of payments for interest and charges.
The first cheques were sent following a review of its service, where HSBC Group found some people in arrears were sent poorly worded letters.
Mortgage, overdraft, credit cards and loan customers could have been entitled to the compensation, depending on the service they received.
But the banking group told Money Saving Expert you may not be eligible for both the compensation and money back for interest and charges.
It also hasn’t said how much average payments for interest and charges could be, but MSE says it has heard from one customer who got £350 back.
HSBC Group has around 14million customers across all its brands, so even just 1% would amount to 140,000 people.
Steve Nowottny, news and investigations editor at Money Saving Expert, said: "Just as we saw with the first redress scheme, it's likely some customers and particularly former customers may be taken by surprise by these payments, coming as they do apparently out of the blue.
"So if you were in arrears between 2010 and 2019 and think you may be affected, keep an eye on your account for unexpected payments - and whatever you do don't accidentally chuck a cheque in the bin."
How will I receive the money?
Do keep in mind that not everyone is eligible just because they were in arrears.
If you are owed money, the bank says you don’t need to do anything - instead, it will send you a cheque in the post or put the money straight into your account.
Not sure if you’re due something back? Contact each bank using its official numbers and live chats on their respective website.
Also keep in mind that HSBC will automatically take income tax at the basic rate of 20% from the 8% interest you receive, but you may be able to reclaim it through HMRC using an R40 form .
