28 Aug 2015
A woman who bought an investment property with an acquaintance later complained about hardship and that the bank should never have let her borrow the money. Read on for what we found.
28 Aug 2015
A lack of good communication can be blamed for most complaints about banks, says the new head of the Banking Ombudsman Scheme.
14 Aug 2015
A man was left out of pocket after a misunderstanding over a joint loan taken out with his mother. To make matters worse, the bank still expected him to pay loan-related insurance premiums after his mother’s death.
29 Jul 2015
Mixing business with family can create problems when differences arise. A member of a family partnership complained that the bank provided poor advice about what to do in dispute situations when another family member froze the partnership’s account.
07 Jul 2015
We had a complaint recently from a widow who said he was going to have to contest his deceased wife’s money through the courts because the bank hadn’t carried out instructions to give him joint on all her accounts. Read on for our decision.
29 Jun 2015
Misunderstandings about the intended use of a bank loan resulted in a complaint about poor customer service, poor bank process and defamation of character. It also resulted in the customer receiving $5,000 in acknowledgement of this.
23 Jun 2015
Did fallout from a bank not making clear debt payment deadline instructions warrant $9,000 compensation for a customer being referred to a debt collector? Read on to find out what we thought.
15 Jun 2015
The elderly are much more likely to be the targets of financial abuse than other groups and this is only getting worse with technological developments in banking and an aging population, according to Banking Ombudsman Deborah Battell.
15 Jun 2015
The Banking Ombudsman Scheme is seeking feedback on a draft version of its new terms of reference, or scheme rules. The revision is one of the recommendations of last year’s independent review of the scheme.
11 Jun 2015
The Banking Ombudsman Scheme has published a Quick Guide explaining how new responsible lending requirements and changes to hardship applications affect banking.
10 Jun 2015
Thinking about switching credit card to advantage of a lower interest rate?
Watch this Fair Go story featuring Banking Ombudsman Deborah Battell to make sure you understand what you’re signing up for. And read our Quick Guide on Credit card debt balance transfers for more tips.
05 Jun 2015
Changes to the Credit Contracts and Consumer Finance Act 2003 (Act), which kick in on 6 June 2015, introduce key lender responsibility principles designed to give better consumer protection. All lenders, including banks, must now comply with "responsibility principles" set by the Act.
02 Jun 2015
A bank customer upset he wasn’t getting the high interest he had expected from a new savings account ended up on the receiving end when our investigation revealed his bank had not sent him a letter explaining all the ins and outs.
18 May 2015
Banks have to protect shared funds when a relationship fails, but read what we found when a complainant’s personal account was blocked along with joint accounts they held with an ex.
12 May 2015
The Banking Ombudsman Scheme is to amend some of its rules (terms of reference).
11 May 2015
An attorney acting for a client complained to us because the bank refused him access to the client’s accounts. Read on for what our investigation found.
04 May 2015
A bank recently had to pay the owners of a successful business $20,000 when their business’s confidentiality was breached by a bank employee accessing the company accounts.
29 Apr 2015
Mr L wanted to use some of his KiwiSaver savings as part of his relationship property settlement but his bank said he couldn’t. We took into consideration the fact he hadn’t suffered a direct loss as a result of the bank’s advice but what about inconvenience? Read on to see what we decided.
28 Apr 2015
Current Deputy Banking Ombudsman Nicola Sladden has been appointed Banking Ombudsman by the Banking Ombudsman Scheme’s board of directors.
13 Apr 2015
Ms Q complained to us her eviction from her flat stemmed from not all of her automatic payments being transferred when she switched bank. We investigated her complaint– which in the first instance was about the bank she moved her accounts to, and also, the bank she left.