Westpac New Zealand fined $3.25M for misleading customers, overcharging by $6.35M over years.

Westpac New Zealand was fined $3.25 million for misleading customers and overcharging them by $6.35 million. The bank admitted to not providing advertised discounts to nearly 25,000 customers over several years, affecting packages for employees and business accounts. Westpac cooperated with the Financial Markets Authority's investigation and has since remediated all affected customers.