Issue Date:  -  Thursday, 9 January 2003

Time running out for ANZ customers to claim compensation

WA customers of the ANZ Bank who had fixed rate personal loans between 28th of February 1985 and 31 October 1996 are running out of time to claim their share of $1.65 million.

"About 70% of that period's 362,000 personal loans had bank errors in them and eligible customers can expect an average payment of between $700 and $750", Consumer Protection Commissioner Patrick Walker said.

"Customers are being asked to send copies of their loan contracts the bank's lawyers to check if they are eligible to receive compensation. Customers who cannot produce their contracts could receive a flat $100", he said.

Customers have until close of business on Wednesday 22nd January 2003 to lodge their claim with:

Anne Dalton
Blake Waldron Dawson
101 Collins Street
Melbourne Vic 3001

The bank's information line is: 1800 353 969

Mr. Walker said that consumers who have previously contacted the bank about this matter do not need to do so again unless their contact details have since changed.