ANZ KiwiSaver mistake leaves 50,000 out of pocket

In something like a Monopoly Community Chest card, a bank error has been found in at least 50,000 Kiwis' favour after ANZ picked up a KiwiSaver processing mistake.

The mistake affects some of its customers who've been in the bank's KiwiSaver scheme since 2009 and they'll get an additional member tax credit paid to them as a result.

Eligible KiwiSaver members can get the $521.43 per year credit from the Government if they contribute $1042.86 during the year.

For those affected, it could mean they've been underpaid by around $50 or less.

But the bank has assured its customers that once all the payments are made, it'll leave them in "at least the same position they would have been in if the error had not occurred".

The bank has made a claim with Inland Revenue to fix the mistake and while it estimates more than 51,000 customers have been affected, the true number won't be known until the payments are processed.

ANZ says it's committed to doing right by its customers. It says those affected don't need to take any action and they'll be told when the payments have been completed.

It apologised for any inconvenience caused.

Newshub.

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