Citibank will refund customers more than $4.3 million after failing to give back outstanding credit card balances, and providing misleading statements about unauthorised transactions. 

The Australian Securities and Investments Commission says Citibank will refund $3.3 million to 39,500 customers who did not receive refunds when credit card accounts were closed with an outstanding balance. 

The error occurred on accounts as far back as 1994, but did not happen every time an account was closed, Asic said on Thursday. 

To read more, please Login or Register below

Problems, questions, feedback? Please call +61 8 9288 2100