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The Warehouse Financial Services is to refund $120,000 to customers who paid hidden foreign exchange fees on the company's Value or Merit MasterCard cards.
But unlike other companies which did the same sort of thing, it will not be fined.
The Commerce Commission said yesterday that after reaching a settlement it had withdrawn all charges against the company.
The commission said it had not sought a fine as it considered the company's level of culpability to be lower than in the case of banks.
As a result of the latest settlement, and prosecutions of ANZ, National Bank, BNZ, Westpac, Kiwibank and ASB, a total of $23 million in compensation had been paid to consumers, the commission said.
As well, $3.18 million had been paid in fines, with $410,000 paid to the commission in costs.
