One of Australia’s biggest four banks will refund 3.4 million customers in the coming weeks, following a large amount of overcharging.

He said the bank was “paying customers back as fast as we can” to meet the recommendations made by the banking royal commission.

“For retail and commercial banking in Australia, we currently estimate that over 3.4 million bank accounts need fixing,” Mr Elliott said, according to AAP.

“No one is proud of the fact we need to remediate mistakes of the past but we are learning from our failures and strengthening the bank as a result.

It was revealed at ANZ’s annual general meeting that as of yesterday, just 30 per cent of customers had been refunded so far.”

On average, customers are being refunded at around $60.

For more information on your account, it’s recommended you call ANZ.

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