Mortgage offset account errors mean some Australians are owed thousands of dollars. Are you among them?

The first port of call could be checking your mortgage and account details online. But if you can’t find the information you need, it’s time to be more direct and call your lender. Photograph: Aleksandr Davydov/Alamy

The corporate regulator has detailed how banks have had to pay tens of millions of dollars in compensation to customers for mortgage offset failures.

In a new report, the Australian Securities and Investment Commission showed lenders repaid $55m to customers over two years after they unknowingly paid too much interest on their mortgages – and warned the number would climb higher.