Banking Regulations and Large Corporates - Beware
Found out some pretty shocking information.... I cancelled my insurance policy with AMI and they owed me a refund.
Instead of paying the refund, they set up a direct debit on my bank account with BNZ without my authority and withdrew the amount they were supposed to refund me.
Called the bank to find out how that could have happened and they told me that "a number of large organisations were allowed to set up direct debits without any authorisation from the customer".
I called the Banking Ombudsman and they confirmed that was correct. They said it was done to "reduce the amount of paperwork for the organisations and they depended on the fact it would reflect badly on these organisations if they abused the plan" to prevent any issues.
So anytime they want, telcos, insurance companies electricity companies, etc can set up a direct debit on your accounts and deduct money. If you want to dispute it, you have to go through a disputes resolution process, so there goes hours, days or months of your time to get your money back.
Unbelievable!!!!!
Poll: Are our Kiwi summer holidays helping us recharge, or holding the economy back? ☀️🥝
There’s growing debate about whether New Zealand’s extended Christmas break (and the slowdown that comes with it) affects productivity.
Tracy Watkins has weighed in ... now it’s your turn. What’s your take? 🤔
-
0% We work hard, we deserve a break!
-
0% Hmm, maybe?
-
0% Yes!
Noxious Weed Convolulus
Can any one please tell us How to get rid of Convolulus in the Garden
any spay ??
We need help
A riddle to start the festive season 🌲🎁🌟
I'm a fruit. If you take away my first letter, I'm a crime. If you take away my first two letters, I'm an animal. If you take away my first and last letter, I'm a form of music. What am I?
Do you think you know the answer? Simply 'Like' this post if you know the answer and the big reveal will be posted in the comments at 2pm on the day!
Want to stop seeing these in your newsfeed?
Head here and hover on the Following button on the top right of the page (and it will show Unfollow) and then click it. If it is giving you the option to Follow, then you've successfully unfollowed the Riddles page.
Loading…
