- National Savings and Investments (NS&I) is set to pay millions of pounds to customers after errors led to bereaved families not receiving money they were owed.
- Up to £476 million in deposits from approximately 37,500 customers may have been affected, with many cases dating back to 2008.
- The Treasury-backed savings bank has apologised and is working to reunite people with their cash, with further details on repayments and potential compensation expected in May.
- It is not clear at this stage if money will be paid in compensation to those affected alongside the return of their missing funds.
- Sir Jim Harra, former HM Revenue and Customs boss, will replace Dax Harkins as interim chief executive of NS&I, following previous concerns about the bank's transformation programme.
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