Safer Online Banking in NZ: What You Need to Know
Safer Online Banking in New Zealand: What You Need to Know 💰
Great news for online banking users in New Zealand! Banks are now required to use the Confirmation of Payee (CoP) system. This new feature significantly enhances security by making it easier to verify payment details, helping you avoid accidentally paying the wrong person or falling victim to a scam.
What if You Accidentally Pay the Wrong Account?
Even with enhanced security, mistakes can happen. If you accidentally transfer money to the wrong account, here's what you should do:
👉 Act Immediately: Contact your bank as soon as you realise the error.
👉 Bank's Role: Banks' ability to reverse payments varies. In most cases, they'll need permission from the recipient to retrieve your money. If consent is given, your funds will be returned.
👉 No Consent? Next Steps: If the bank can't get consent to reverse the transaction, you might need to escalate. For claims up to $30,000, the Disputes Tribunal is your next step. For amounts over $30,000, you'll need to make a claim at the District Court.
👉 Invalid Account Numbers: If you type in an invalid account number, your bank should be able to reverse the transaction, and you typically get your money back within a few business days.
👉 Fees Apply: Be aware that your bank will likely charge a fee for their payment retrieval or credit recovery service, even if they're unable to get your money back.
This new CoP system is a welcome step towards greater financial security for everyone in New Zealand. Stay vigilant and know your rights!
Info credit: Citizens Advice Bureau NZ
Poll: Do you set New Year’s resolutions?
🎉 2026 is almost here!
We’re curious ... how do you welcome it?
Do you set resolutions, follow special traditions, or just go with the flow?
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8.8% Yes! New Year, New Me
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20.6% Yes - but I rarely stick to them
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70.6% Nah - not for me
Kōnae: Find Your Records
If you want to know how to request records about you or your whānau visit Kōnae: My Records Guide konae.org.nz.
Kōnae has information on more than 60 state and faith-based organisations that have records for over 800 homes and places in Aotearoa New Zealand about people who have been in their guardianship or care.
The Kōnae map shows past and present places in Aotearoa New Zealand like children’s homes, hospitals, orphanages, boarding schools, Youth Justice facilities and many more.
Each place on the map has details about who was responsible for running it and how to get records.
The map can be searched and filtered by
- name
- location
- date range
- religion
- type of organisation.
If you want support to use the website or to find your records, you can get in touch with your local CAB on 0800 367 222, email or message via cab.org.nz, or visit a CAB near you cab.org.nz/find-a-cab
Accessing records can bring up a range of emotions, we encourage you to take care of your wellbeing. You can find suggestions of support at konae.org.nz/support
Original post credit: Citizens Advice Bureau: cab.org.nz
Guitar wanted
Hi guys, just wondering if anyone had a good entry guitar available for a decent price?
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