Almost 5,000 payments to savers in Kaupthing Singer & Friedlander (KSF) are still outstanding despite a government swoop to reimburse savers five months ago.
A total of 7,000 customers had their money frozen in KSF when the bank went into administration in October. While savers in online subsidiary Kaupthing Edge had their money moved to ING Direct, those not using internet banking were forced to claim their money back from the Financial Services Compensation Scheme (FSCS). The scheme has so far paid £32m to just under 2,200 customers but 5,000 payments are still outstanding. Originally customers of the failed bank were promised the process would take around six weeks and the scheme aimed to return savers' money to them by Christmas. How...
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