Interest on reminder fees

In connection with a major review of our processes and systems, we have found that we have wrongfully charged some customers interest on reminder fees. This happened because we did not adjust our systems to stop interest from being charged on reminder fees when a change was made to the Danish Interest Act in 2005.

We are currently reviewing all reminder fees that we have charged in Denmark since 2005 – this concerns about 360,000 customers. In how many cases interest on reminder fees has been charged is still unclear.

At this stage, our analysis show that half of the customers affected to have paid under DKK 10 in interest on reminder fees. We are still in the process of analysing the issue and have also identified cases with significantly larger amounts.

Customers who have paid interest on reminder fees will of course be reimbursed and will receive compensation for the time that the money should have been at their disposal.