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ASIC finds offset failures left some borrowers $17,000 out of pocket
✓ Source-backedMoney & Work

ASIC finds offset failures left some borrowers $17,000 out of pocket

Eight banks were reviewed, and two customers were charged over $17,000 extra after refinancing and re-linking errors.

Why it mattersOffset accounts are meant to cut mortgage interest. If banks mis-handle them, borrowers can pay more for months without knowing.

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