Lloyds Bank mistakenly transferred £37,000 from a customer to the Duchy of Cornwall due to incorrect company status.

Lloyds Bank mistakenly transferred £37,000 from a customer, known as CW, to the Duchy of Cornwall after deeming their limited company dissolved during a transition to sole trader status. The Duchy confirmed receipt but required CW to reinstate the company for a £234 fee to reclaim the funds. Following intervention by The Guardian, Lloyds apologized, provided £150 in compensation, and reimbursed £899.14 for lost interest.

September 16, 2024
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