Westpac to pay $4M to customers it overcharged for Aussie dollars

Westpac to pay $4M to customers it overcharged for Aussie dollars
Sophie Boot
By Sophie Boot Feb. 16 (BusinessDesk) - Westpac Banking Corp's New Zealand unit will pay more than $4 million in compensation after overcharging customers who used debit cards to withdraw cash from its ATM machines in Australia. Westpac New Zealand self-reported for a potential breach of the Fair Trading Act to the Commerce Commission and the Financial Markets Authority in late 2014, the Wellington-based regulator said in a statement.  The bank told its customers Australian ATM transactions would be processed and converted into New Zea...