Full coverage· Economy· Updated
Discount Bank to Refund $2.4 Million in Fees to Customers
Discount Bank will refund approximately 8.8 million shekels to customers as part of a class-action settlement for allegedly improper debit card fees.
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What happened
- 01Discount Bank will pay approximately 8.8 million shekels to customers due to improper debit card fees.
- 02The Central District Court approved the class-action settlement for fees charged between April 4, 2024, and settlement approval.
- 03Eligible customers will receive 70% of the improperly charged fees plus interest and revaluation.
- 04Active customers will get refunds within 150 days, while former customers will receive checks.
- 05The bank is also involved in a separate class-action lawsuit concerning alleged hidden email tracking.
- 06Judge Hilit Silsh appointed accountant Ariel Green to oversee the settlement's execution.
The Central District Court approved the agreement, which covers customers charged fees despite being entitled to exemptions between April 4, 2024, and the settlement approval date. Eligible customers will receive 70% of the fees plus interest, with active clients credited within 150 days. The bank is also facing a separate lawsuit over alleged hidden tracking in customer emails.
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