Prezzy Card foreign currency conversion charges compensation - customer refunds paid
New Zealand Post customers who incurred foreign currency conversion fees while using their Prezzy Cards to make foreign currency transactions between 4 November 2006 and 26 June 2007 and between 9 November 2007 and 12 November 2007 have received a refund of the fees they paid on all these transactions.
Customers have been paid the full refund amounts during the relevant periods direct to their Prezzy Cards as compensation agreed between New Zealand Post Limited, Kiwibank Limited and the Commerce Commission. This agreement relates to the non-disclosure of foreign currency conversion fees charged on Prezzy Cards, with New Zealand Post and Kiwibank accepting it breached the Fair Trading Act.
If you're an existing Prezzy Card customer and have any questions regarding the agreement, including the calculation of the refund amount, call us on 0800 629 003 or from overseas +64 4 460 5375.
Any compensation not used before the expiration of the Prezzy Card will be paid to a charity project nominated by the Commerce Commission.Prezzy Cards purchased or used for international transactions between 27 June 2007 and 8 November 2007 and after 13 November 2007 are not affected by this notice.