Pence, not pounds
We’ve experienced a problem with the handover from our old banking system to our new one, which has caused a problem with some of the borrower repayments currently processing this month.
Unfortunately, due to teething problems with the software and good old human error, repayments which are usually requested in pence, were requested in pounds.
The error was soon spotted and we quickly sent a communication to the affected borrowers’ banks canceling the repayment. For any borrowers who did become liable for charges because of this mistake, we have instructed the banks to remove the charges upon the borrower, as this was clearly an error at our end. All affected borrowers have been contacted directly with an email letting them know what to do.
Please do get in touch with us if this payment is collected or if you have any questions whatsoever.