Invest
Thousands of Aussies due refunds, ‘misled’ on NBN plans
Thousands of Australians are overpaying for their NBN connection, as leading telecommunications companies admit to misleading customers into purchasing higher speed plans than their connections could experience.
Thousands of Aussies due refunds, ‘misled’ on NBN plans
Thousands of Australians are overpaying for their NBN connection, as leading telecommunications companies admit to misleading customers into purchasing higher speed plans than their connections could experience.
The Australian Competition and Consumer Commission (ACCC) has urged consumers to reach out to their telecommunications providers, as Telstra, Optus, TPG, iiNET, Internode, Dodo, iPrimus and Commander have each admitted they likely falsely represented the connection speeds available to NBN customers with fibre-to-the-node (FTTN) and fibre-to-the-building (FTTB) connections.
These responsible service providers (RSPs) advertised and sold plans with the maximum theoretical NBN speeds (100 megabits per second download and 40 megabits upload) despite the limitations of FTTN and FTTB technologies, meaning thousands of consumers could never enjoy such speeds.
In November 2017, the ACCC announced that each of the eight RSPs would contact impacted consumers to offer them a range of solutions, such as moving to a slower plan or leaving their contract and receiving a refund.
In the 15 months since, 142,000 consumers have been contacted regarding their eligibility for a refund; however, only one-third have responded.
“A large proportion, two in three affected consumers, have not responded to the letter or email from their RSP. They may be eligible for refunds, some in the hundreds of dollars,” ACCC acting chair Mick Keogh said.
“The ACCC is urging NBN customers to contact their NBN retailer if they have received a letter or email offer of a remedy, or think they might be entitled to a remedy.”
Despite the ACCC’s ruling, new NBN customers may also be affected, as some RSPs continue to advertise the maximum connection speeds for their plans.
According to the ACCC, within four weeks of installing the NBN service, RSPs must check their speeds and assess whether they are below that advertised for the consumers plan. If this is the case, they must offer remedy options.
“Our message to RSPs is that if you advertise a particular connection speed and customers cannot experience that speed, you risk breaching the Australian Consumer Law,” Mr Keogh said.
“We expect RSPs to provide consumers with accurate information up front about the internet speeds they can expect to experience, and then deliver on those promises.”
Spending
How much are you wasting on unused subscriptions?
Australians are continuing to pay for subscriptions they are not using, costing households up to $2,000 a year, new banking figures have revealed. ...Read more
Spending
Viagogo under the microscope for ‘ripping off’ consumers
Viagogo is under investigation by Fair Trading after ticket scalpers have been accused of raking in excessive profits through the ticketing site. ...Read more
Spending
Consumer spending defies lockdown
Statewide lockdowns have not hampered consumer spending, with the latest government data showing Aussies are continuing to spend more on their credit cards. ...Read more
Spending
How a cartel is dictating how much you pay at the pump
Talks among members of the OPEC cartel and allied oil producing countries have broken down, which is leading to skyrocketing oil prices, meaning everyone pays more for petrol, a government body has re...Read more
Spending
Have you noticed the price of your mobile plan increasing?
The consumer watchdog has revealed that the three main telecommunication providers have recently raised prices, meaning millions of Australians are now paying more for mobile services. ...Read more
Spending
Victoria’s lockdowns dampen retail spending
The latest COVID-19 outbreak in Victoria has dented national retail figures, as the economy continues to recover from the COVID-19 pandemic. ...Read more
Spending
It should be easier to fix your phone, Productivity Commission finds
The Productivity Commission has found that it should be easier for Australians to get their smartphone repaired and has recommended changes that include ‘super complaints’ to be reported to watchd...Read more
Spending
You can win free flights for a year, but there’s a major catch
In a bid to keep Australia’s domestic aviation afloat, Qantas is offering free flights for a year for 10 families of four who get the COVID-19 jab, even though the failed vaccine rollout means only ...Read more
The Olympic effect on property and equity investors; COVID-19 Disaster Payments and super
Listen now
Do lockdowns boost property prices? Are short-sellers levelling the playing field? Did you lodge your tax returns early?
Listen now
Will lockdowns halt the housing boom? Is the metaverse taking over? And the cons of lodging your tax returns early
Listen now
Are you being priced out of the market? Have you got the Tuesday blues? And are you ready for the upcoming super changes?
Listen now
Spending
How much are you wasting on unused subscriptions?
Australians are continuing to pay for subscriptions they are not using, costing households up to $2,000 a year, new banking figures have revealed. ...Read more
Spending
Viagogo under the microscope for ‘ripping off’ consumers
Viagogo is under investigation by Fair Trading after ticket scalpers have been accused of raking in excessive profits through the ticketing site. ...Read more
Spending
Consumer spending defies lockdown
Statewide lockdowns have not hampered consumer spending, with the latest government data showing Aussies are continuing to spend more on their credit cards. ...Read more
Spending
How a cartel is dictating how much you pay at the pump
Talks among members of the OPEC cartel and allied oil producing countries have broken down, which is leading to skyrocketing oil prices, meaning everyone pays more for petrol, a government body has re...Read more
Spending
Have you noticed the price of your mobile plan increasing?
The consumer watchdog has revealed that the three main telecommunication providers have recently raised prices, meaning millions of Australians are now paying more for mobile services. ...Read more
Spending
Victoria’s lockdowns dampen retail spending
The latest COVID-19 outbreak in Victoria has dented national retail figures, as the economy continues to recover from the COVID-19 pandemic. ...Read more
Spending
It should be easier to fix your phone, Productivity Commission finds
The Productivity Commission has found that it should be easier for Australians to get their smartphone repaired and has recommended changes that include ‘super complaints’ to be reported to watchd...Read more
Spending
You can win free flights for a year, but there’s a major catch
In a bid to keep Australia’s domestic aviation afloat, Qantas is offering free flights for a year for 10 families of four who get the COVID-19 jab, even though the failed vaccine rollout means only ...Read more
More articles
Website Notifications
Get notifications in real-time for staying up to date with content that matters to you.
