better banking

Media releases

14 November earthquakes

14 Nov 2016

Please note that the Banking Ombudsman Scheme office will be closed today while our building is checked out. 

Our thoughts are with all those who have been affected by the earthquakes.

 

New guide on payments takes mystery out of process

08 Nov 2016

Have you ever thought a money transfer should have gone through and then find out it hasn’t but can’t understand why?

Another year, more cases of online love ending badly for the lovelorn

02 Nov 2016

Bank customers who meet people online are vulnerable to fraud and theft if they fall for the wrong person, says Banking Ombudsman Nicola Sladden.

What a hangover: bank customers ripped off abroad after big night out

28 Oct 2016

Imagine this: you’re overseas, drinking in a bar.  Next thing you know, people you don’t know are in your hotel room and your credit card has racked up a huge bar bill. Sound like a scene from a Hangover movie, but it was a real cases the Banking Ombudsman Scheme investigated in the 2015-16 financial year.  

Prevention work showing results

19 Oct 2016

More focus on preventing banking disputes through early intervention is starting to pay off according to the scheme’s 2015-16 annual report.

15% of complaints from over-65s

03 Oct 2016

At least 15  per cent  of complaints to the Banking Ombudsman Scheme last year came from people over the age of 65.

Proceed with care - Do your homework

05 Sep 2016

Our advice this Money Week is to make sure you know what you're in for before committing to any new banking arrangement. 

Should bank pay for watch stolen from house?

31 Aug 2016

Ms K had an expensive watch stolen when her house was burgled.  She thought the bank should reimburse her for its full value, even though it wasn’t listed on her insurance policy. Did we agree?

Debate over what is the end of the month…

24 Aug 2016

A man who transferred money from one account into another at the end of a month to go in a prize draw complained to us when he didn’t win.

Was the bank irresponsible lending 20% over customer’s credit card limit?

17 Aug 2016

A man complained that his bank shouldn’t have let him go over his credit card limit because he hadn’t agreed to the extension and wouldn’t reimburse him for the overspend. Did we uphold his complaint?

No insurance cover a nasty shock after car crash

10 Aug 2016

A man complained after finding out he wasn’t insured after crashing a new car.  He thought he had arranged the insurance when he took out the bank loan to pay for the car.  What was the outcome?

NZer in Aussie complained because he couldn’t get his KiwiSaver paid out

27 Jul 2016

He wanted the payout because his Aussie super scheme wouldn’t accept his KiwiSaver savings. What was the outcome?

Graduate complained when he was no longer eligible for student deal

20 Jul 2016

Once a student, always a student?  Not according to the bank. What did we think? 

Indefinite suspension of funds resulted in inconvenience payment

12 Jul 2016

A customer thought her bank suspending her accounts was unlawful.  Did we agree?

Customer complains that bank shouldn’t have changed term deposit policy

06 Jul 2016

A letter explaining a new policy for early term deposit withdrawals ended up being a red herring for complaint about improper contract variation.

Was bank responsible for customer’s foreign currency loss?

29 Jun 2016

Was the bank to blame for customer losing out on foreign exchange when it said it was being cautious to protect the customer’s interests?

Warning about global bogus bank cheques

22 Jun 2016

The Banking Ombudsman Scheme has told government agencies and the finance sector about a complaint it investigated recently in which a New Zealander was caught out trying to use cheques from bogus UK bank ‘WeRe Bank’.

Customer spends up…because she could

17 Jun 2016

Should customer who spent up large on an overdraft her bank mistakenly left in place have to pay it back?

Oh (Hong Kong) phooey!

15 Jun 2016

Bank doesn't spot out of character account activity which was a sign its customers were being scammed.

Elderly dad left in lurch by son highlights need to prepare for old age

14 Jun 2016

The case of a son leaving his dad in the lurch resulting in him almost losing his house, highlights the need for people to think ahead to protect their finances in their old age.