Tag: overcharging

FMA Warns Kiwibank for Overcharging Customers

6 Aug 2025 9:01 a.m. · Source: NZ Financial Markets Authority

The FMA has warned Kiwibank for overcharging customers on joint accounts between 2011 and 2024. Kiwibank overcharged 8,663 customers a total of $912,053.79. The FMA has said that Kiwibank could have identified the issue earlier.

Business Politics and Government Financial Markets Banking Legal FMA Kiwibank Financial Markets Authority overcharging fee waivers joint accounts Financial Markets Conduct Act NZ Financial Markets Authority