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November 2015

Lending restrictions / Freeing up capital /

Restrictions no basis for keeping entire sale proceeds

Lee owned two properties funded through separate bank loans. When he sold property A, he thought he …

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November 2015

Early repayment charges /

Bank properly informed customer about early repayment charges

Zhang took out three housing loans with his bank. The loans' interest rate was fixed for three years…

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October 2015

Account mandates /

Unauthorised use of account led to $9,000 loss

Jamie complained about her bank allowing her former husband, Alex, to take out a loan in joint names…

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October 2015

Chargebacks /

Handling of complaint left customer unable to challenge merchant

Ravi entered his credit card details on a movie streaming website to see whether he could receive th…

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October 2015

Hardship and financial difficulty /

Debt woes brought on by also borrowing from other lenders

Jordan and Lee’s mortgage broker applied on their behalf to the bank for loan of between $325,000 an…

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September 2015

Lending restrictions /

Loading error had knock-on effects for rental property owner

Kiri bought a rental property with a loan from her bank. She later bought another property, again wi…

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September 2015

Clearing cheques /

Bank entitled to ask for ID to cash open cheque

Hana tried to cash an open cheque for $800 at her local branch. A staff member asked her for identif…

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September 2015

Insurance policies /

Non-disclosure rightly resulted in rejection of insurance claim

Tani wanted to switch life insurance provider and applied to her bank for life insurance with critic…

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September 2015

Fraud & scams /

Mule scam victim gets compensation over false allegation

Hamish was a beneficiary who did casual work. A man who owed Hamish money asked if he could transfer…

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Case notes

Restrictions no basis for keeping entire sale proceeds

Bank properly informed customer about early repayment charges

Unauthorised use of account led to $9,000 loss

Handling of complaint left customer unable to challenge merchant

Debt woes brought on by also borrowing from other lenders

Loading error had knock-on effects for rental property owner

Bank entitled to ask for ID to cash open cheque

Non-disclosure rightly resulted in rejection of insurance claim

Mule scam victim gets compensation over false allegation