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August 2014

Breaking a term deposit /

Bank properly advised that deposit was not earning interest

Alex was paid in United States dollars for some shares she sold. She decided the exchange rate was u…

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June 2014

Mistaken payments /

Bank without legal basis for using collection agency to get $70,000

Sophia’s business partner owed her $130,000. The business partner instructed his bank to break a $20…

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June 2014

Mortgagee sales /

Bank did not renege on lending agreement

Ana borrowed money from her bank to buy land to subdivide. The lending was approved and work began. …

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May 2014

Privacy & confidentiality / Life Insurance /

Medical information request too broad

Sarah bought a life insurance policy with death and terminal illness benefits through her bank. Eigh…

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May 2014

Savings Accounts /

Onus on customer to check for better interest rate

Linda decided to switch from her standard savings account to an online savings account because of th…

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March 2014

Transferring credit card debts /

Onus on customer to read terms and conditions

Jordan saw an advertisement for a special low interest rate for credit card balance transfers. He to…

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March 2014

Fraud & scams /

Bank unaware of scam and unable to give warning

Jamie began corresponding with Sarah through an online dating site. After several months, Sarah told…

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February 2014

Insurance policies /

Van owner inconvenienced but no worse off after misrepresentation

Jamie arranged insurance cover for a $10,000 van he had bought for his delivery business through his…

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December 2013

Contactless cards /

Customer worried about security of contactless technology

Jamie was concerned about the safety of contactless technology and asked her bank not to include suc…

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Case notes

Bank properly advised that deposit was not earning interest

Bank without legal basis for using collection agency to get $70,000

Bank did not renege on lending agreement

Medical information request too broad

Onus on customer to check for better interest rate

Onus on customer to read terms and conditions

Bank unaware of scam and unable to give warning

Van owner inconvenienced but no worse off after misrepresentation

Customer worried about security of contactless technology