A recent case brought before the Ombud for banking services shows that banks must have clear stated terms and conditions.
A recent case brought before the Banking Services Ombud shows that the terms and conditions in banking contracts have to be crystal clear.
The Ombud said that a customer enters into a credit agreement with a bank when they obtain a home loan. Therefore, the bank agreed to reverse all cash deposit fees charged to the account, and the matter was referred to its home loans department to amend the pricing guide.
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