State Custodians has identified current and former customers who were overcharged for discharge fees and/or telegraphic transfer fees in relation to their loan account. Customers potentially affected by the discharge fee issue had loans with State Custodians from January 2006 to May 2017, and December 2020 to May 2022. Customers potentially affected by the telegraphic transfer fee issue had loans with State Custodians from October 2000 to June 2022.
As part of State Custodians Remediation Program, we will be reaching out to all affected customers via SMS, email, postal letter and phone to apologise for this oversight and let them know they are eligible for compensation.
This compensation will take the form of a refund for the overcharging/erroneous payment, plus interest.
If you are one of the affected customers, you will receive a call from our dedicated Remediation Team, who will confirm your bank account details over the phone. If you prefer to provide your details to our team directly, you can call our dedicated hotline on 1300 154 582.