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@coolpeeps Mind you, he was gaming at the time and more or less just letting me rant while confirming that the formulas I was feeding him were correct. I’m genuinely sure that if I got him to sit down and give it his full attention, that he would have indicated this was a possibility. But it’s...

@johnlarsensmith Ah, this is a good catch! The last interest charge was 29/12. I’ll still follow up with them but this could potentially be why.

@mcflyguy22 Thank you. I’ll email my bank now :)

@epicpaymentsny Yes you’re right that it’s not a miscalculation that caused the overcharge. I realise I didn’t articulate what I was trying to emphasise enough; that not linking an offset so that the account holder is charged more interest is still an overcharge and that banks aren’t motivated...

@epicpaymentsny NAB were found to have done this previously: https://asic.gov.au/about-asic/news-centre/find-a-media-release/2017-releases/17-444mr-nab-refunds-1-7-million-for-overcharging-interest-on-home-loans/

Happy Saturday AusFinancers. Bit of a query around my mortgage and the amount of interest charged. I’m with one of the Big 4 and, in late 2023, changed my mortgage offset account from my transaction account/cash hub to my emergency fund as I’ve been disciplined enough to get it to five...