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February 2022

Freeing up capital /

Bank’s $50,000 error caused customer no financial loss

Jimmy and his former wife signed a relationship property agreement stating they would each be respon…

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November 2021

Joint accounts /

Bank had enough reason to lock funds but failed to do so

Rose's husband unexpectedly left her in 2019 after withdrawing large sums of money from their joint …

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November 2021

Cards and PINs /

Elderly customer handed over card and PIN to “carer”

Thomas complained to a bank on behalf of Sid about transactions on Sid’s account. Sid was very elder…

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November 2021

Common scams targeting bank customers /

Banks under no general obligation to monitor customer’s accounts

Antoinette was the victim to an online investment scam. She sent $150,000, all of her savings, overs…

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November 2021

Common scams targeting bank customers /

Bank acted on customer’s instructions to forward money to scammer

Harriet was the victim of a Facebook lottery scam, in which she was led to believe that she had won …

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November 2021

Common scams targeting bank customers /

Romance scam victim determined to transfer funds despite bank’s warnings

Vern transferred $60,000 overseas over two months in a romance scam. Then he sent another $11,000 in…

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October 2021

Hardship and financial difficulty /

Bank entitled to pursue debts after offering support

Leonie fell behind on repayments on her credit cards, and the bank tried unsuccessfully to contact h…

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October 2021

Insurance policies /

Bank not obliged to ensure homeowner had insurance

Bronwyn complained to the bank on behalf of her son Oscar’s estate after discovering he had no life …

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October 2021

Clearing cheques /

Trustee no worse off over misdirected tax cheque

Roger was a trustee of his family trust. In 2015, the Inland Revenue Department issued a cheque to t…

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Case notes

Bank’s $50,000 error caused customer no financial loss

Bank had enough reason to lock funds but failed to do so

Elderly customer handed over card and PIN to “carer”

Banks under no general obligation to monitor customer’s accounts

Bank acted on customer’s instructions to forward money to scammer

Romance scam victim determined to transfer funds despite bank’s warnings

Bank entitled to pursue debts after offering support

Bank not obliged to ensure homeowner had insurance

Trustee no worse off over misdirected tax cheque