NS&I preparing to repay hundreds of millions of pounds over missing savings

Government-backed bank in talks about recompensing about 37,000 people whose money was misplaced

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National Savings & Investments is preparing to repay hundreds of millions of pounds to its customers over missing savings, in what is expected to be the single biggest payout in the bank’s 160-year history.

The government-backed savings institution is in discussions with the Treasury to recompense about 37,000 people whose money has been misplaced due to historical failings.