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October 2021

Freeing up capital /

Property sale proceeds to repay other loan

Jack and his partner had two home loans – one in their own names secured by their home, and the othe…

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October 2021

Hardship and financial difficulty / Suspending debt recovery action /

Bank issued demand notice to correct address

Carlos took out a personal loan of $18,000, but made only one repayment in the following six months …

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October 2021

Kiwisaver /

Bank entitled to demand return of KiwiSaver funds

Sébastien bought a section and planned to build a house on it. Several years later, he applied to wi…

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October 2021

Fraud & scams /

Bank not obliged to check account number and name matched

Martin sent $US90,000 to a fraudster’s account as part of an invoice scam: the fraudster contacted M…

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October 2021

Concerns about lending decisions /

Records showed bank acted correctly in lending dispute

Marisol was on a benefit and looking after her elderly mother. She owned three properties over which…

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October 2021

Concerns about lending decisions /

Bank’s poor communication cost customer her bid for house

Carmel had a house with a mortgage to the bank that she wanted to sell so she could upgrade to a new…

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October 2021

Account information /

Complaint was about a commercial decision and therefore outside our scope

Elsdon applied to open an account with the bank and borrow money to buy a house. The bank rejected t…

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October 2021

Concerns about lending decisions /

Bank acted fairly despite tight deadline to consider loan request

Jacob found a property he was eager to buy. The property was to be sold by auction. He sought the ba…

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October 2021

Account information /

Bank fails to show evidence of any breach of terms and conditions

In late 2020, Phoebe’s daughter gained unauthorised access to her phone banking and stole $8,600. Ph…

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Case notes

Property sale proceeds to repay other loan

Bank issued demand notice to correct address

Bank entitled to demand return of KiwiSaver funds

Bank not obliged to check account number and name matched

Records showed bank acted correctly in lending dispute

Bank’s poor communication cost customer her bid for house

Complaint was about a commercial decision and therefore outside our scope

Bank acted fairly despite tight deadline to consider loan request

Bank fails to show evidence of any breach of terms and conditions