NS&I to contact bereaved families owed £367m after missing savings scandal
NS&I is set to contact bereaved families owed £367 million due to a missing savings scandal. The bank's interim chief executive acknowledged the issue and stated that the repayment process is a crucial step in rectifying the situation. NS&I aims to complete the remediation program by the first half of 2027.
- ▪NS&I holds over £240 billion on behalf of 24 million customers.
- ▪The bank will contact approximately 34,000 estates affected by the missing savings issue.
- ▪Payments will be adjusted to account for interest accrued since the error occurred.
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NS&I holds more than £240bn on behalf of over 24 million customers. Photograph: Russell Hart/AlamyView image in fullscreenNS&I holds more than £240bn on behalf of over 24 million customers. Photograph: Russell Hart/AlamyMoneyNS&I to contact bereaved families owed £367m after missing savings scandalThe bank’s interim chief executive says ‘this issue should never have happened’, but warns it may take time to process claimsZoe WoodTue 19 May 2026 13.27 EDTLast modified on Tue 19 May 2026 13.28 EDTSharePrefer the Guardian on GoogleNational Savings and Investments bank will start to contact thousands of families affected by a missing savings scandal next week, as it confirmed how much they are owed.In March, the chief executive of the state-backed bank was forced out after it emerged there had…
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