The Commonwealth Bank has agreed to release $2.2 million for customers who had money left on expired Travel Money Cards following concerns expressed by the corporate regulator.
In a statement released by ASIC yesterday, the regulator said the CBA has made changes to all its Travel Money Cards so consumers will not forfeit any funds on expired cards.“Instead, any expired funds will be held by the CBA for three years and, if they remain unclaimed by consumers, will be treated as unclaimed money,” a statement from ASIC said.
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