Brief: Australia's ASIC Says Big Banks To Refund Millions In Fees To Low-Income Customers

Bendigo and Adelaide Bank

15/07/2024 02:28

July 15 (Reuters) - 
    Australia's ASIC - 
  
    * BIG BANKS TO REFUND MILLIONS IN FEES TO LOW-INCOME
CUSTOMERS
FOLLOWING ASIC REPORT
    * ASIC REVIEW REVEALED FOUR AUSTRALIAN BANKS SYSTEMICALLY
CHARGED
HIGH FEES TO BANK CUSTOMERS ON LOW INCOMES
    * BANK CUSTOMERS ON LOW INCOMES, INCLUDING FIRST NATIONS
CUSTOMERS, TO BE REFUNDED OVER A$28 MILLION FOLLOWING ASIC
REPORT
    * FOLLOWING ASIC'S REVIEW, THE BANKS HAVE MIGRATED MORE THAN
200,000 CUSTOMERS INTO LOW-FEE ACCOUNTS

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