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March 2022

Cards and PINs /

Customer liable for transaction losses while in prison

David was sent to prison for two years in October 2018, and during that time unauthorised transactio…

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March 2022

Concerns about lending decisions /

Bank obliged to assess loan affordability, not viability of business

Liam applied for a loan of $56,000 to buy a franchise business in 2019. His intention was to stay in…

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March 2022

Breaking a term deposit /

Customer failed to give any exchange rate instructions

Rosemary contacted the bank on 17 March 2020 and asked for its best Australia-New Zealand exchange r…

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March 2022

Chargebacks /

Bank’s refund policy on eftpos transactions a goodwill gesture, not a legal obligation

Jessica bought airline tickets costing $1,900 from a nationwide travel agent using her Visa debit ca…

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February 2022

Concerns about lending decisions / Lending restrictions /

Bank entitled to include residency status in lending criteria

George applied online for a home loan. The bank's website set out some basic application criteria, i…

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February 2022

Lending restrictions /

Bank not obliged to agree to vary loan agreement

Chantal had a property in her name and wanted to change it to a trust name. The bank said she would …

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February 2022

Common scams targeting bank customers /

Bank had no reason to suspect transferred money was going to scammer

Rosie and her father lost $580,000 in a romance scam. Rosie had power of attorney for her father. Sh…

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February 2022

Transferring credit card debts /

Mix-up left former employee with company’s card debt

Robert was approved for a business Mastercard. His employer told him he would be personally liable f…

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February 2022

Common scams targeting bank customers /

Bank was slow in recovery efforts but not at fault for scam loss

Geordie lost $30,000 in an investment scam. He authorised the transaction using his internet banking…

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Case notes

Customer liable for transaction losses while in prison

Bank obliged to assess loan affordability, not viability of business

Customer failed to give any exchange rate instructions

Bank’s refund policy on eftpos transactions a goodwill gesture, not a legal obligation

Bank entitled to include residency status in lending criteria

Bank not obliged to agree to vary loan agreement

Bank had no reason to suspect transferred money was going to scammer

Mix-up left former employee with company’s card debt

Bank was slow in recovery efforts but not at fault for scam loss