16 Mar 2015
The Banking Ombudsman Scheme wants your ideas about suggested amendments to its terms of reference (rules) following its independent review last year. To find out more and to make a submission click here.
16 Mar 2015
Not disclosing what your insurer may regard as key information could allow the insurer to avoid the policy, as this person found out.
11 Mar 2015
We recently had to determine whether a name change affected a bank’s ability to still accept a person as the authorised operator of an account. Read on to find out what we decided.
03 Mar 2015
Agreeing to be a guarantor can mean you are liable for any future debt the person takes on, and the bank may not even have to tell you of any new lending - as this person belatedly found out.
23 Feb 2015
If we think a bank makes a reasonable offer to settle a complaint, we are not able to consider it further, as in this case in which a bank offered some compensation after bank cards were stolen and poor PIN protection led to theft from bank accounts.
16 Feb 2015
If you find yourself in a difficult financial situation you can apply to withdraw KiwiSaver savings on the grounds of hardship. But as this recent case shows, you need to ensure you follow process and provide all the required information otherwise your application may be declined.
12 Feb 2015
Customers used to breaking term deposits early may soon find they have to give more than 30 days notice or demonstrate they are experiencing hardship if they want to access their money.
09 Feb 2015
Too many people looking for love are being tricked out of their money online by scoundrels taking advantage of their loneliness, says Banking Ombudsman Deborah Battell.
08 Jan 2015
Banking Ombudsman Deborah Battell predicts complaints to her office about scams will increase this year and has put out a guide to help bank customers avoid getting caught up.
18 Dec 2014
Be sure account numbers are correct if you gift money by transferring it directly into someone’s account this festive season otherwise the wrong person might think all their Christmases have come at once.
15 Dec 2014
It's important to disclose all relevant information when applying for insurance. As a general principle, applicants are required to tell an insurer anything which may impact the insurer’s decision to provide cover. Failure to do so can result in claims being declined or the cover being cancelled.
10 Dec 2014
Banking Ombudsman Deborah Battell is urging people spending up this Christmas to be sure they stick within their credit card limits and make sure they keep their cards safe.
10 Dec 2014
If you have a complaint that relates to your privacy being breached by your bank, we can look into the situation and may consult with the Privacy Commissioner.
01 Dec 2014
Sometimes a complaint arises because a customer does not understand how a bank product works. In these cases we consider whether bank information provided was sufficient for the customer to make informed decisions.
24 Nov 2014
We receive complaints every year from property owners with a mortgage complaining their bank paid off their rates arrears to the local council and then took the amount from their account. What many people don’t know is that legislation permits local authorities to demand a bank pay its customer’s rates debt.
18 Nov 2014
The Banking Ombudsman Scheme is required to commission an independent review every five years, and to provide a report to the Minister of Consumer Affairs in accordance with the Financial Service Providers Act 2008.
In May 2014, BOS commissioned CameronRalph Navigator to complete an assessment of BOS’s operations. The purpose of the review was to identify if improvements can be made to the scheme to assist its aim of being a world-class Ombudsman service, universally valued and trusted for its independence and fairness.
17 Nov 2014
If you have a KiwiSaver complaint, it may not always be clear who you should direct the complaint to. Your complaint might concern your KiwiSaver scheme provider or a decision made by the KiwiSaver scheme trustees.
13 Nov 2014
Contactless technology allows for easy, fast payments without the need to swipe a card or enter a PIN. This technology is available on most new credit cards and many debit cards. The cards are quick and easy to use, and they are also good for people who struggle to see PIN keypads. However, not everybody likes the technology as this story shows.
04 Nov 2014
Why banks can take money from customer bank accounts to pay their council rates arrears is explained in a new Banking Ombudsman Scheme quick guide.
03 Nov 2014
Banks typically cover any loss if you take reasonable care of your card and PIN and report any loss to them promptly. But if you haven’t, you are unlikely to recover the loss, as this person found out when he went to the pool for a swim and left his card in an unsecured cubby hole.