Episode
Banks compensating customers over mortgage offset failures
- Podcast
- ABC News Top Stories
- Published
- Jul 28, 2026
- Duration seconds
- 199
- Processing state
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Summary
Millions of Australians use offset accounts to reduce interest costs on their mortgage, but the corporate regulator says some banks are not delivering the savings as promised. ASIC found Australian banks paid more than $55 million in compensation to customers in just two years, for failures with mortgage offset accounts.