Westpac Admits Overcharging 24,000 Customers in New Zealand, Promises Refunds
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Westpac New Zealand has admitted to overcharging more than 24,000 customers, resulting in a total overcharge of $6.35 million. This overcharge occurred due to misleading representations made by the bank, which led to customers not receiving promised discounts and benefits. The Financial Markets Authority (FMA) and Commerce Commission have formally agreed with Westpac on the necessary steps to refund the fees to the affected customers.The overcharging affected nearly 25,000 customers across various business areas, and Westpac has acknowledged the issue and taken responsibility for the misconduct. The bank has expressed its commitment to rectifying the situation and ensuring that similar incidents do not occur in the future.For customers seeking to contact Westpac regarding this matter, they can reach out via phone at 0508 972 254 within New Zealand or +64 9 375 9978 from overseas. The bank's customer support is available on weekdays from 8:30 am to 5 pm, and they are closed on public holidays.