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Do the big banks owe you money?

It’s time to check your statements, as the big banks are called out for a fresh advice scandal.

ASIC has uncovered more poor behaviour from Australia’s big banks, and this time, they haven’t been caught handing out dodgy advice. Instead, they’ve been charging customers for advice that was never even given!

Are you due for compensation? Some simple maths can help determine what your chances of a payout are.

James Kirby
James KirbyAssociate Editor - Wealth

James Kirby, Associate Editor-Wealth, is one of Australia’s most experienced financial journalists. James hosts The Australian’s twice-weekly Money Puzzle podcast.He is a regular commentator on radio and television, the author of several business biographies and has served on the Walkley Awards Advisory BoardHe was a co-founder and managing editor at Business Spectator and Eureka Report and has previously worked at the Australian Financial Review and the South China Morning Post. Since January 2025 James is a director of Ecstra, the financial literacy foundation.

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Original URL: https://www.theaustralian.com.au/business/wealth/do-the-big-banks-owe-you-money/news-story/100b1e194221caf600a7bad093a53252