Discount to refund customers about NIS 8.8 million over card fees

In depth

The Central District Court approved a settlement in a class action against Bank Discount concerning the collection of card fees. The suit alleged that the bank charged a monthly fee on debit cards from customers who were entitled to an exemption, contrary to agreements and to the bank's publications. The bank denied the claims against it and argued that it acted lawfully.

Under the settlement, Discount will refund 70% of the card fees charged to its customers, in a total sum estimated at about NIS 8.8 million. Active customers will receive the refund directly into their accounts within 150 days. Customers who have already left the bank may also be entitled to a refund.

The settlement was reached relatively quickly, and the parties reached a compromise before the proceedings ended. Those entitled to a refund are invited to check their eligibility according to the terms of the approved settlement.