Updated: Nov 9, 2021
Daily Mail Australia has featured Remediator in a story about Melbourne mum Marie, who achieved a big $7484 refund using our services.
The story reported that:
For years, Melbourne mother-of-four and grandmother Marie Chronopoulos had spent thousands on insurance linked to Commonwealth Bank of Australia loans.
She was paying expensive monthly mortgage insurance for two homes in regional Queensland, despite already having the necessary 20 per cent deposit for both properties when she took out loans nearly two decades ago.
Then there was the insurance on a CBA mortgage and personal loan where the repayments would be serviced in the event of illness or injury.
In mid-July, Marie contacted us after seeing a Facebook post and by September, she had received $7,484 in refunds.
'It was one of the nicest surprises - the longest lockdown ever and to receive that was just awesome,' she told Daily Mail Australia.
'Put a claim in, I tell you what, it's very well worth it. I've put all my friends on to it and they've all made the phone calls and quite a few have got returns back as well.'
There could be millions more still who are owed refunds. Marie's refund was an outstanding result but the average so far is still around $2000 for claimants at Remediator.
The Commonwealth Bank in 2019 put aside $2 billion for consumer remediation to cover junk insurance and fees for no service after the banking royal commission released scathing findings on the major banks.
National Australia Bank also put aside $2 billion for the same purpose and settled a $49.5 million junk insurance class action suit.
'You're claiming what's rightfully yours, it's just sitting in bank coffers,' Remediator consumer expert Joel Gibson told the Daily Mail.