ASIC forces BankWest to change credit card ads

BankWest will amend all its advertising and promotions for its’ Lite Mastercard after corporate regulator ASIC found the bank’s advertising was misleading. ASIC said that BankWest’s advertising did not disclose prominently enough that the headline interest rate of 8.99 per cent did not apply to cash advances which are billed at 19.99 per cent. BankWest will stop its TV advertising and amend its print and web based promotions.