Farepak customers to begin receiving compensation

Customers who lost money when the Farepak Christmas saving scheme are to begin receiving compensation in the form of shopping vouchers from next week.

The compensation fund has reached more than £6 million, but this will mean that members of the scheme will still only receive 15p for every pound they saved in the scheme.

Around 150,000 people lost a total of up to £50 million when the firm went into administration in October.

They will receive shopping vouchers, which are redeemable at 75 stores including Boots, Woolworths and Argos.

It is hoped that all the customers will receive their vouchers by December 18.

The administrators of Farepak said that it hoped to pay customers an additional 4p or 5p for every £1 saved some time next year.


Related UK National News Stories
Click here for the latest headlines.

08 May 2009
Stabbed Mother 'Had Contacted Police' Over Safety Fears
A mother-of-three has been found stabbed to death at her home had called the police hours before her death, it has emerged. Mary Griffiths, a 38-year-old fitness instructor, from Bury St Edmunds, died early on Wednesday.
26 September 2006
Postman keeps job after junk mail warning
A postman who was suspended from his job after advising customers on how to avoid receiving junk mail has been allowed to keep his job. The Royal Mail confirmed on Tuesday that Roger Annies, 45, had been allowed to keep his job, following a disciplinary hearing.
06 July 2004
Pensioners receiving more money under new Credit scheme
A new report today showed that 1.83 million pensioner households are getting more money through Pension Credit than was the case under the old Minimum Income Guarantee (MIG) system.
22 August 2013
Customers To Be Reimbursed Following Mis-Sold CPP Card Protection
The Financial Conduct Authority (FCA) has reached an agreement with Card Protection Plan Limited (CPP) and 13 high street banks and credit card issuers, that will pave the way for redress to be paid to customers who were mis-sold CPP's Card Protection and Identity Protection policies.
01 September 2015
Contactless Card Payment Limit Increases To £30
The limit on contactless card payments has increased from £20 to £30, the UK Cards Association has announced. Payment terminals are being updated to accept the new limit from today Tuesday, 1 September. The move comes as figures reveal contactless spending rose from £287m in January to £567m in June. In total, £2.