If you or I pay a loan or a bill from a financial institution late, we will be charged penalties and interest.

But when the ball is on the other foot, there is often a very liberal interpretation of prompt payment.

Scottish Widows launched a series of Capital Protected notes with interest rates liked to Stock Market movements.

As an interest rate product, you would expect prompt payment on maturity.

They sold the notes on maturity, but after chasing the payment several times they advise it will be in my account 15 calendar days after maturity.