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: Should the government levy industries that contribute to financial hardship?
As reported in the Post, there’s a $30 million funding gap in financial mentoring. This has led to services closing and mentors stepping in unpaid just to keep helping people in need 🪙💰🪙
One proposed solution? Small levies on industries that profit from financial hardship — like banks, casinos, and similar companies.
So we want to hear what you think:
Should the government ask these industries to contribute?
-
60% Yes, supporting people is important!
-
25.7% No, individuals should take responsibility
-
14.3% ... It is complicated
Poll: Do you have a go-to adverse-weather checklist for your family? ☔⚠️
As reported in the Press, the same low-pressure system that lashed the North Island over the weekend is now making its way south, bringing heavy rain and strong winds with it. It’s a soggy start to the week for many of us.
With more wild weather on the cards, we’re curious: do you have a go-to adverse-weather checklist for your family? Or are you more of a “grab the torches and hope for the best” household?
-
44.4% Yes - we like to be prepared
-
38.9% Nah
-
16.7% This is on my to-do list!
🌿 Ōtukaikino Memorial Service Changes 🌿
This year marks a change, whereby Lamb and Hayward will no longer hold the usual Memorial Service in February at Ōtukaikino “The Living Memorial”. Instead, Lamb and Hayward will now host a Memorial Weekend in the spring.
This new format will include a tree dedication, followed by optional planting activities and guided tours of the site.
Created in 1992 with the Department of Conservation, The Living Memorial is a 13-hectare native wetland where a tree is planted for every funeral service conducted by Lamb & Hayward. It remains a peaceful space of remembrance for families, with the Angel Rock continuing as the resting place for Angels from our Christmas to Remember services.
Loading…
