Westpac charged with breaching Deposit Compensation Scheme disclosure requirements

New Zealand Herald · Herald Reporters · 2026-11-06 02:01 UTC

There were no financial losses to customers, the bank says.

The alleged breach did not affect customers’ DCS protection or the operation or availability of the scheme.

Westpac has added the product back to its webpage.

RBNZ’s director of enforcement and resolution, Kerry Beaumont, said, “Depositors need to know whether their money is protected by the DCS. Deposit takers must provide complete, accurate and up-to-date information that is easy to find.

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