Author Topic: Australian Bank refunds of fees for no service  (Read 331 times)

deborah

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Australian Bank refunds of fees for no service
« on: January 06, 2023, 01:50:58 PM »
Due to the Banking Royal Commission and subsequent trials, I have been identified as having (possibly) paid fees for no service (well before I joined MMM), and am getting the money back. With interest. At the cash rate at the time +6% compounded monthly. Is anyone else in the same situation?

mjr

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Re: Australian Bank refunds of fees for no service
« Reply #1 on: January 11, 2023, 12:55:34 PM »
My old super fund (from 6 years ago) sent me $6000 last year because they reckoned they hadn't communicated information to me that would have resulted in money for jam if I had acted on said information at the time.

Presumably this was brought on by the Royal Commission finding.

Lukim

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Re: Australian Bank refunds of fees for no service
« Reply #2 on: February 01, 2023, 01:47:31 AM »
I received a payment of about $40,000 from Westpac more than 12 months ago (a substantial chunk was interest).

I was surprised to receive it but didn't argue about it.