As a result of a bank error, their son was later able to withdraw $3,000 without authorisation from either parent or a designated guardian. Hana and Tony complained to the bank, which offered compensation of $250. They did not accept the offer, considering it unrealistic and an insult, and complained to us.

Our investigation

They accepted that their son was partially responsible for the withdrawal, but considered the bank was also at fault by failing to set up the account in accordance with the applicable terms and conditions. After we discussed the case with the bank, it offered $1,500, half of the loss suffered.

Outcome

Hana and Tony accepted the offer.