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

Mon, 05 Aug 2019

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...

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