Update - The date by which FinTel customers could confirm their eligibility for a refund has now passed and all remaining funds have been donated to the Citizens Advice Bureau.
In March 2016 Tower reported an error in calculating multi-policy discounts. Following this, steps were immediately taken to correct the error, with affected customers notified and offered a refund.
Some FinTel customers who held multiple policies, between July 2003 and 1 October 2014 have been unable to be identified and may still be entitled to a refund. These customers are encouraged to contact FinTel to confirm their eligibility to receive a refund.
Eligible FinTel customers who make contact prior to 16 January 2018 will receive a payment of $25 per year or part year that they should have received a multi-policy discount.
FinTel customers can confirm their eligibility by registering their details online or over the phone prior to 16 January 2018:
- 0800 847 011
After 16 January 2018, unclaimed funds will be donated to the Citizens Advice Bureau.
With all affected Tower customers having now been offered or sent their refund, Tower has signed a Settlement Agreement with the Commerce Commission that finalises these matters.