Business
ANZ customers lose access to millions of dollars in erroneous loan redraw balances – ABC News
ANZ says loan redraw facilities on 200,000 customer accounts were mistakenly inflated, and is repaying $11 million in interest.
ANZ Bank has restricted access to loan redraw facilities for thousands of customers after discovering it had accidentally inflated their account balances by millions of dollars.
Key points:
- ANZ has restricted access to $8.7 million in redraw facilities
- Around 200,000 accounts have been affected, mostly home loan and personal loan customers
- The bank has identified 131 customers whose redraw facility balances have to be adjusted down by more than $10,000 each
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