Reports this week reveal that Novo Banco repeated transfers made to clients who left the bank back in 2014 after BES bank started running into trouble.
The transfers were made on 23 March and were brought to customers’ attention on 1 April.
Under EU law, recipients of these transfers have to give explicit authorisation for their banks to return the money to Novo Banco.
In the absence of this permission, Novo Banco is forced to take the matter to court.