04/08/2026
Last week ASIC published findings on something most people never think to check: whether their offset account is actually doing its job.
Across eight major lenders, covering more than 70% of Australia's home loan market, ASIC found offset accounts that were never linked to the loan, never opened at all, or linked later than promised. More than $55 million has already been repaid to customers, and ASIC expects more to come.
The difficult part is how invisible it is. Your repayment doesn't change. Your statement looks normal. You simply pay more interest than you should and take longer to clear the loan.
So we built something to help you check it yourself.
It reads your loan and offset statements, rebuilds your daily balances, and works out what the interest should have been. Then it compares that against what you were actually charged.
• Free to use
• No sign-up, no personal details, no obligation
• Your statements never leave your browser, nothing is uploaded anywhere
If it all lines up, that's peace of mind. If something doesn't add up, we're happy to go through it with you.
Link in the comments below.
Please note this is an indicative check rather than formal advice. Day-count conventions and timing differences can cause small, normal variances.
