A recent review of member data found that the incorrect Years of Membership Benefits (YOMB) discount had been applied to one or more of the products you hold (or used to hold) with RACV and as a result, you were overcharged for these. We have now corrected this and sent you a refund.
Frequently asked questions
We recently conducted a review of our membership data and found that we incorrectly recorded the date some of our members joined RACV. As a result, we did not apply the appropriate Years of Membership Benefits discount to some products. Refunds are being issued to impacted members.
Here, you'll find answers to common questions about the refunds and how you can contact us if you have any more questions.
As part of RACV's continued quality reviewing, we found the date some of our members joined RACV was incorrectly recorded. As members are awarded benefits based on continuous years of membership, this meant we inaccurately applied relevant discounts.
In December 2018, we found that the incorrect Years of Membership Benefits (YOMB) discount had been applied to one or more of the products you hold (or used to hold) with RACV. RACV has since been working to identify further impacts and is now sending a refund for those further impacts.
Your premium/subscription has been re-calculated to determine the difference between what you paid and what you should have paid. This includes adjustment of relevant government charges plus interest applied at a rate of 5.60%. This is to put you back in the position you would have been in had the errors not occurred.
You can contact us on 1300 940 177 (between 8.30am and 6.00pm Monday to Friday) if you have further questions about your refund.
Please contact us on 1300 940 177 any time between 8.30am and 6.00pm Monday to Friday and we’ll be happy to assist you.
The interest portion of the refund is determined by the length of time the incorrect Years of Membership Benefits discount was applied to your product and has been calculated using a compounding formula. The interest rate applied is 5.60%, agreed by RACV and relevant Regulatory Bodies.
No, agreed terms and conditions still apply to existing products.
Your Years of Membership Benefits discount is based on your continuous years of membership and is reflected in the colour of your membership card. The longer your RACV membership continues, the greater the discount.
The following RACV products attract a Years of Membership Benefits discount:
- RACV Emergency Roadside Assistance
- RACV Motor and Home Insurance
- RACV Caravan, Trailer & Boat Insurance
- RACV Golf Membership
- RACV Emergency Home Assist
- RACV Car & Personal Loans (conditions apply)
- RACV Torquay Resort Fitness Centre (One Lifestyle Torquay)
- RACV Club Membership (joining fee only)
We believe that a cheque is the most secure and effective way to promptly deliver a refund for most affected members at RACV. Please contact us on 1300 940 177 (between 8.30am and 6.00pm Monday to Friday) to discuss alternative payment methods.
Please contact us on 1300 940 177 (between 8.30am and 6.00pm Monday to Friday) to discuss alternative payment methods.
As part of RACV's continued quality reviewing, we found that the date some of our members joined RACV was incorrectly recorded. This review included current and former members and products.
Your total refund may include more than one cheque if you have multiple products with RACV.
Cheques for insurance policies are issued in the names of all people insured on a policy.
Under certain circumstances, yes, they can. Please contact us on 1300 940 177 (between 8.30am and 6.00pm Monday to Friday) to discuss this.
The refund has been issued to the person identified as the purchaser of the policy.
The YOMB discount applied is the highest discount available from all insureds listed on the policy.
RACV has taken steps to address the data errors that resulted in the incorrect Years of Membership Benefits discount being applied to products held by you. If in the future our quality control processes identify errors that result in members not receiving correct discounts, RACV will make refunds as necessary.
RACV is committed to a high level of service delivery to our members. If you are dissatisfied with our service in any way, contact our Member Relations team on 1800 675 958.
If your complaint is about a financial service such as insurance or lending and is not resolved to your satisfaction, you can lodge a complaint with the Australian Complaints Financial Authority or AFCA. AFCA provides a fair and independent complaint resolution that is free. Complaints to AFCA can be made by 1800 931 678 or via email info@afca.org.au