Decade long wait for £20 bank ATM refund

Steve Titman with his bank refund from 2008. EMN-171114-131248009
Steve Titman with his bank refund from 2008. EMN-171114-131248009
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Christmas has come early for one Peterborough man who received a refund for leaving £20 in an ATM... 10 years ago.

Steve Titman will have a little more money in his wallet for Christmas shopping after receiving a surprise cheque for £26.80 in the post from NatWest, which includes interest which has added up over the past decade.

Steve, who lives in Woodston, was just 24 when he left £20 in a Lloyds cash machine on a Friday evening - not that he remembers doing so.

So it came as a huge, but welcome, surprise to find out that for once a bank was sending money his way, rather than the other way around.

Steve said: “It was a complete shock but very welcome. I will put it towards my Christmas shopping.

“Obviously I have no recollection of leaving the money in the cashpoint.

“I think I was most surprised that this dated back to the beginning of 2008.

“It was a Friday I apparently left money in the machine when I was a bit younger and probably went out on the town a bit more.

“I have to say thank you to NatWest for checking my records.”

Money from ATMs automatically goes back into the machine if it is not collected.

Back in 2012, RBS and HSBC carried out a similar refunding scheme to Lloyds after it changed its policy so that customers who did not pick up the money from an ATM had it automatically refunded into their accounts.

Previously, customers would have had to ask the banks for a refund.

Both RBS and HSBC decided to reimburse customers dating back to January 2005, which was estimated at the time to be costing the banks a combined £18 million.

Now, Lloyds is refunding people who did not pick up the correct amount of money from its ATM machines, with the number of people affected reported to be in the thousands.

Steve, who works for Peterborough City Council’s communications team, said receiving his Christmas bonus was timely, but he was frustrated that the money had never been returned to his account back in 2008 when he left it in the ATM.

He added: “I always thought if you left cash in a cashpoint and you did not take it out, it went back into the machine and put back into your account.

“I’m a bit annoyed it was not credited into my account, but happy to get a windfall in time for Christmas.

“I have never heard of this before. I’m interested to know if anyone else had an unexpected withdrawal from leaving money in a cashpoint several years before.”

Steve’s bank account is with NatWest, but the money was reimbursed to him from Lloyds.

A letter he received from NatWest stated: “Lloyds has undertaken a review of its historic ATM (cash machine) withdrawals and identified occasions where NatWest Bank customers, at the time, did not take all the cash from the ATM.

“To put things right we are arranging, on behalf of Lloyds, for the amount of the withdrawal(s) to be refunded to you.

“Interest has been added to the amount of the withdrawal from the date of the ATM transaction so you’re not out of pocket.”

The interest on the £20 comes to £8.50, with £1.70 deducted for tax, leaving a net profit for Steve of £6.80 for missing out 10 years ago.

A spokesman for Lloyds said: “We made payments to a number of banks whose customers we identified as experiencing, and not being previously reimbursed for, a cash retract at one of our ATMs between January 1, 2006 and March 31, 2011.”

He added: “We have made a payment to Mr Titman as we have identified that he was not previously reimbursed for a cash retract at one of our ATMs. We apologise for this and have given him a compensation payment in addition to the retract amount.”