ANZ class action

[diamondhands]

$34 for me. I don’t recall paying ANZ any interest!

 

[Ansett Nostalgic]

$120 for me - which I'm happy with since I don't really recall being charged for anything by ANZ that was wrong!

 

[ellen10]

Did you give the solicitors your bank account details for a refund ?

 

[serfty]

Did you give the solicitors your bank account details for a refund ?

Yes - we received emails on August 16th (Register by October 4th), January 7th (final notice to provide details by Jan 17th) and Friday (Settlement advice).

Our settlement amount is $88 ... haven't seen it yet.

 

[NoName]

Looking forward to seeing this in my bank account in a couple of weeks. Like picking up money off the ground except I didn’t even need to reach down for it.

 

[Gold Member]

Our settlement amount is $88 ... haven't seen it yet.

Cheque’s in the mail…

 

[oz_mark]

Cheque’s in the mail…

Nooo...If it is in Aust Posts hands I may never see it....

 

[JohnK]

$34 for me. I don’t recall paying ANZ any interest!

As I mentioned earlier my settlement was <$5 (so no refund) and I've been paying ~$500 interest a month for a long time.

I'd love to know the calculations behind the scenes. Surely ANZ made more errors than a total of <$5 in my case? I called recently about a wrong charge and mentioned being affected by floods and the consultant waived one months interest of $115 on one credit card.

 

[I love to travel]

I wish someone would start a class action about ANZ refusing to accept/return refunds people get when their credit card is closed

 

[oz_mark]

As I mentioned earlier my settlement was <$5 (so no refund) and I've been paying ~$500 interest a month for a long time.

I'd love to know the calculations behind the scenes. Surely ANZ made more errors than a total of <$5 in my case? I called recently about a wrong charge and mentioned being affected by floods and the consultant waived one months interest of $115 on one credit card.

The issue wasn't about interest where you were paying on an ongoing basis. It was about missing out the full payment when you otherwise would have had the benefit of paying no interest. It related to the way they applied interest retrospectively.
Basically, the way the interest was calculated if you missed paying on a one-off basis was deemed unfair, especially the retrospective element. FWIW charging retrospective interest on credit cards with an interest-free period has been outlawed since January 2019.