A bank which persuaded an 84-year-old man to tie up £50,000 for five years claims it was acting in his best interests.

But Barclays Bank today issued an apology over the "inconvenience" suffered by the Telegraph & Argus reader who claimed he was badly advised on his investment.

The widower, who says he was still grieving after the loss of his wife when he went to the bank to deposit the proceeds of his house sale, was persuaded to put the money in an ISA and a managed income fund.

After the T&A told the story of how he was left to struggle on £20 a week, Barclays Bank arranged for the money to be refunded. Today, a bank spokesman said his money, plus interest and an ex gratia payment, would be put into his instant saver account.

He said: "When talking to Barclays on Tuesday, the customer confirmed his satisfaction that Barclays acted in his best interests, and that he has now changed his mind about the course of action he decided to follow when he took out the investments. However, Barclays recognises that the unique circumstances of his case warrant a sympathetic response to his change of mind. We apologise for any inconvenience this has caused."