(Reuters) - Britain's competition watchdog said HSBC <HSBA.L> and Santander UK <SANS_pa.L> had agreed to refund customers after they broke a legal order that ensures customers receive text alerts before banks charge them for going into an unarranged overdraft.
HSBC was found to have broken twice a part of the Competition and Market Authority's (CMA) Retail Banking Market Investigation Order and is refunding 8 million pounds ($10.26 million) to 115,000 customers, the CMA said http://pdf.reuters.com/htmlnews/htmlnews.asp?i=43059c3bf0e37541&u=urn:newsml:reuters.com:20191129:nRSc0597Va on Friday.
Santander broke the order six times and has agreed to issue a refund but has yet to confirm the number of customers affected and how much it will refund, it added.
(Reporting by Noor Zainab Hussain in Bengaluru; Editing by Subhranshu Sahu)
