Westpac has been slammed after a system error saw around 30,000 Aussies overcharged.
The major bank has admitted that tens of thousands of Australians with Westpac credit cards were incorrectly charged annual fees which should have been waived.
Also read: Westpac confirms extra loan 'glitch' costs
The bank will pay back affected Aussies around $1.8 million in total - which equates to around $60 to each customer.
That figure, according to the Herald Sun, is the combined total of the excess fees and any interest charged on the fees.
The bank said a ‘system calculation error’ was to blame, after a review of products and services found holders of Westpac’s 55-day credit card - who were supposed to have annual fees waived - were still charged.
“We apologise for the error and want to assure our customers this has been fixed,” a Westpac spokesman told the Herald Sun.
On top of the refund, customers can expect to also be paid compensation for the issue.
“Having identified the problem, we have: refunded the annual fee (if not previously refunded); refunded the interest charged on the fee; and included an amount for compensation,” one customer was told in a letter from the bank.
The news comes just a month after the major Aussie bank stumped up millions of dollars after it was found to have incorrectly charged 40,000 home loan customers.
Westpac home loan customers have been receiving letters explaining how they will be reimbursed after being mistakenly charged extra interest.
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