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!!!!!
🧩😏 Riddle me this, Neighbours…
I am an odd number. Take away a letter and I become even. What number am I?
Do you think you know the answer?
Want to stop seeing these in your newsfeed? No worries! Simply head here and click once on the Following button.
Some Choice News!
DOC is rolling out a new tool to help figure out what to tackle first when it comes to protecting our threatened species and the things putting them at risk.
Why does this matter? As Nikki Macdonald from The Post points out, we’re a country with around 4,400 threatened species. With limited time and funding, conservation has always meant making tough calls about what gets attention first.
For the first time, DOC has put real numbers around what it would take to do everything needed to properly safeguard our unique natural environment. The new BioInvest tool shows the scale of the challenge: 310,177 actions across 28,007 sites.
Now that we can see the full picture, it brings the big question into focus: how much do we, as Kiwis, truly value protecting nature — and what are we prepared to invest to make it happen?
We hope this brings a smile!
Poll: Canterbury is thriving on paper... but are you seeing evidence of Canterbury's improving economy?
As reported in the Press, Reserve Bank Governor Anna Breman recently gave a shout-out to our region, calling Canterbury a "stand-out" for how we recover from tough times. With tech firms growing and exporters investing, the business side of things is looking bright!
👉 But we know that "business growth" doesn't always mean the weekly shop gets any cheaper. While the city expands, many families feel like they’re just trying to keep their heads above water.
We want to know: With the business buzz of 2026, do you feel like things are finally looking up for your household, or does it still feel like a climb?
-
28.6% Yes
-
42.9% No
-
28.6% In some areas ...
Loading…
