Banks Found to Charge Fees to Deceased Customers

A new report into the handling of accounts belonging to bank customers who have died has delivered a scathing outcry against many Australian banks. Six banks, including the Big Four, were found to be still levying fees after customers died.

Banks charged deceased estate Credit: rawpixel.com from Pexels

A report on the results of the study, supported by the Banking Code Compliance Committee, found poor practice and breaches aat dealing with customers who had died.

These include charging fees and levies for services no longer provided, failing to act within a prescribed time frame, and a lack of respect and compassion.

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