Westpac to refund $7 million to 93,000 NZ customers

Westpac to refund $7 million to 93,000 NZ customers
Gavin Evans
By Gavin Evans Aug. 6 (BusinessDesk) - Westpac is to refund $7 million to 93,000 New Zealand customers overcharged due to incorrect calculation of rewards and fee-waivers on some accounts. Westpac says about 61,000 customers were owed $1.28 million due to fee waivers being incorrectly applied to tertiary or graduate banking accounts between 2007 and 2017. A further $5.7 million is owned to about 32,000 customers who didn't receive the correct relationship rewards, as disclosed by the bank earlier this year. “We apologise to all the cus...

More Finance

Critic says Govt 'missing the point' on AML
Finance

Critic says Govt 'missing the point' on AML

Critic says problems with AML/CFT come down to how rules have been interpreted.

Dileepa Fonseka 08 Jul 2025
TVNZ targets one million digital viewers logged in by 2030
Finance

TVNZ targets one million digital viewers logged in by 2030

The latest performance forecast unfolds the broadcaster’s online ambitions.

Denise McNabb 07 Jul 2025
JPMorgan is revamping Its bank for the superrich
Finance

JPMorgan is revamping Its bank for the superrich

There is a minimum required balance of US$10 million.