Bank of Queensland Error

A recent system error at the Bank of Queensland means that the bank will refund 6000 of its customers, due to a failure to link their mortgage offset accounts to their home loan accounts.

Bank of Queensland identified the problem and subsequently reported it to ASIC.

Customers affected by the error will be identified and advised of their compensation within the next 10 months. The total compensation amounts to $12M.

For more information click here.


Michael Duncan