13 Nov 2017
This week is International Fraud Awareness week. The theme is – how to spot a scam. The Banking Ombudsman Scheme is about resolving and preventing problems to improve banking for customers and banks. We are passionate about working collaboratively to fight fraud and minimise consumer losses.
17 Oct 2017
The Banking Ombudsman Scheme has released its full annual report detailing another successful year.
“We are really proud of what we have achieved this year”- said Banking Ombudsman, Nicola Sladden. “Our numbers support that we are helping more people, faster, with better service”. Queries from customers are up 12% with the average timeframe to handle a dispute down.
04 Oct 2017
In a 2016 Banking Ombudsman case, an elderly couple lost their life savings when they became involved with what they thought was an investment scheme in Hong Kong and it turned out to be a scam.
Within just two months, the couple had cleaned out their term deposits worth $100k and taken out two $10k personal loans to cover fees associated with their new investment opportunity. It was only when their son started asking questions that the investment scheme was revealed to be a scam.
02 Aug 2017
The Banking Ombudsman Scheme is pleased to support Money Week 2017. This year Money Week runs from 14 - 20 August 2017 with the theme ‘what does debt do for you’?
“Lending and debt often feature in banking complaints”- says Nicola Sladden, Banking Ombudsman.
“Debt can allow new opportunities but it also can come at a great cost.”
27 Jul 2017
As the Banking Ombudsman Scheme celebrates its 25th anniversary, the adage comes to mind: the more things change, the more they stay the same.
Banking has changed enormously in recent years – whether in technological innovations, consumer expectations or the regulatory landscape. Apps have replaced cheques, and banks are effectively open round the clock.
26 Jul 2017
The Banking Ombudsman Scheme has a new quick guide on children’s bank accounts. It covers setting up accounts, who owns the money and what happens if things go wrong.
07 Jun 2017
The Banking Ombudsman recommends customers investigate the full costs of switching home loans.
In one recent case, a customer was offered $3000 as an incentive to accept a home loan on the condition that he stayed with the bank for two years. Five weeks later he decided to change bank and was surprised that he would have to repay the $3000 incentive and a $100 admin fee. Mr J complained to us but we could not find that the bank had done anything wrong.
02 Jun 2017
New Zealand has signed up to an international agreement to share information with other tax authorities. This is a government initiative, designed to make sure everyone pays the right amount of tax when they have interests in multiple countries. This new quick guide covers what this means for you, and what will happen to the information you provide.
09 May 2017
This privacy week take some time to consider how you can control your personal information to avoid financial scams - says the Banking Ombudsman Nicola Sladden.
10 Jan 2017
A slip of the digits led to complaint about a mistaken payment when a bank customer transferred her credit card balance. Was her complaint upheld?
03 Jan 2017
We had concerns about the bank lending to a customer who was unable to pay back his credit card overdraft.
27 Dec 2016
Was bank to blame for a customer with driving convictions thinking he was covered for car insurance when he had a crash…only to find out that he wasn’t?
21 Dec 2016
A bank staffer’s misinformation about a bank’s duty of care led to complaint that was unlikely to succeed.
20 Dec 2016
Be aware that if you bank a foreign cheque you get for Christmas it may take longer to process, says Banking Ombudsman Nicola Sladden.
14 Dec 2016
Banking Ombudsman Nicola Sladden said the Banking Ombudsman Scheme had received a spate of complaints from individuals seeking to recoup credit card payments made to binary options trading sites.
07 Dec 2016
A couple’s business experienced problems from the get-go but was their bank at fault?
07 Dec 2016
A bank customer who was careless with her phone banking PIN was lucky to get back $5,000 stolen from her account, says Banking Ombudsman Nicola Sladden.
01 Dec 2016
A dispute between a trust and a committee led to a complaint about the bank’s response to freeze the committee’s accounts.
24 Nov 2016
Man who disclosed eye disorder when taking out insurance later complained when his bank wouldn't compensate for related eye surgery. Did we think his complaint had merit?
17 Nov 2016
Humiliation over not being able to pay for lunch using a debit card at a café led to a complaint about a bank’s poor service.