Banks to Refund Low-Income Aussies $93m

Banks to refund low-income Aussies $93m

Major banks will put more than $93 million back in the pockets of low- income customers who have been charged excessive fees.

Who will get a share of $60 million in refunds from the banks?

Australia's banks to repay $60 million in excessive fees after ASIC found Commbank, ANZ, Westpac and others charged low-income customers high fees.

Banks to refund $60m to ripped-off customers

Major banks have been caught charging vulnerable customers thousands in unnecessary fees, with one of the big four set to pay nearly $50m.

Banks to pay $60m to ripped-off customers

Thousands of Australians wrongly slugged with excessive bank charges will soon receive a refund, as the corporate regulator cracks down on these unfair practices.

Banks to repay $93M to low income customers, but CBA a holdout

Save (0) Please login to bookmarkClose Username or Email Address Password Remember Me Banks have agreed to refund low income customers a total of $93 million in excessive fees following an investigation by ASIC, but the Commonwealth Bank has refused to make $270 million in further repayments. Subscribe to Lawyerly to access this article.Already a subscriber? Username or Email Address Password Remember Me Los…