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Correcting and refunding errors found in Danske Bank's collection system

Errors have been found in Danske Bank's collection system, resulting in some debt information not being updated correctly. We have corrected the mistakes and started to compensate our customers for the detriment incurred and inconvenience caused by incorrect collection.

Based on our analysis, the typical error for personal customers has varied from a few euros to a few tens of euros. Our compensation is calculated in such a way that, in the majority of cases, we compensate significantly more than the harm caused by the error.

We send letters to all our impacted customers. If necessary, we will correct the principal and other instalments of the debt under collection (such as credit interest, interest on late payment, costs and fees) or we will pay the excessive amount collected in cash. Our customers are not required to take any measures or contact the customer service of the bank, collection agency or National Enforcement Authority.

We sincerely apologise for any inconvenience this may have caused.

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Q & A

  • As soon as we noticed indications of problems in our collection system, we implemented control mechanisms to ensure that mistakes cannot be repeated.

    The correction of errors has now progressed to the stage where we are able to start compensating customers for the inconvenience caused. We aim to process all cases as soon as possible and compensate customers for the inconvenience caused.

  • In 2019, Danske Bank noticed a systemic error in its debt collection system in Denmark. At that time, our review did not show similar errors in other countries, but unfortunately, in the additional investigations carried out at the end of 2021, it appeared that a similar error situation had possibly arisen in Finland.

    Additional investigations identified issues including that in some cases in Finland expenses, credit interest or late payment interest had been erroneously merged into the capital.

    We immediately put in place control mechanisms to ensure that mistakes cannot be repeated.
  • No, it's a step-by-step process. We aim to go through the cases as soon as possible.
  • We will send a letter to all affected customers. Since we correct errors on a credit-by-credit basis, a customer who has had more than one credit in collection may receive several letters from us.
  • If the customer still has unpaid credit, the compensation for errors is basically made to the credit balance, which is reduced by the compensation. We review situations in which the customer has already paid off his credit on a credit-by-credit basis. If errors are found in the paid-off credits, we will pay back the overcharged part in cash.
  • We go through the cases of all customers on a credit-by-credit basis, and we will come back separately for other debts under collection, if necessary, as soon as the case has been processed. A customer who has had several debts in collection can thus receive several letters from the bank.

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