ANZ Unarranged Overdraft Fee Help

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ANZ Bank New Zealand

• 

  Tmurder91 on 11/08/2022 - 06:39

  +4

  Step 1.
  As with most complaints, best to start with putting a solid well worded complaint to the company themselves. Ensure it goes to the complaints process outlined on the website.
  Keep the complaint factual and detailed. Explain the points well and accurately. Keep all anger and frustration away. Make it clear what is wrong, and what you would expect as a resolution.

  Step 2.
  If they say no, reply that you disagree with their response and would like a manager to review this.

  Step 3.
  After manager review and no action, follow the disputes resolution via a 3rd party. In this case the banking ombudsman. Feel free to include a bit more personal emotion (no anger) in this one. But keep it accurate and simple.

  • 

    doubledippps on 11/08/2022 - 17:45

    Thanks for the suggestions, this have happened a few times over few years and i have previously contacted the bank and question them about this. I asked them is the "1 day" mean "24 hours" from the overdraft and they said yes it is, and refunded me. Problem is they did not take any action to fix it even they admitted they are wrong. They also charged me straight away after 12am when the website clearly stated that it will be charged on the last business day of the month.

• 

  Arsonist on 11/08/2022 - 06:43

  +4

  Seems to me that the easiest solution going foward is to setup an automatic payment from your Online Account to your Go Account, then you will never forget?

  • 

    doubledippps on 11/08/2022 - 17:45

    Yes think I will do that from now on

• 

  bigcheese on 11/08/2022 - 07:17

  +1

  I agree with TMurder91 - the best thing to do is talk to your bank first. It's also required before you go to someone like the ombudsman.
  Do you have a banking consultant you deal with?
  If this is the first time this has happened they may come to the party and waive the fee but they are not required to as technically you are in unarranged overdraft which you have agreed to as part of your agreement with them.
  I think you are leaving it too tight to make sure you have sufficient funds in the account on the payment day, so as Arsonist mentioned maybe an automatic payment will help.
  You're not going to get that much interest in a savings account so for peace of mind I would just do that.

  • 

    doubledippps on 11/08/2022 - 18:00

    Yes I will just setup an auto transfer from now on. This happened maybe like 7-8 times over the last 5 years. Contacted them and got refunded but sometime I just forgot. Previously when I contacted them they clearly let me know it's a 24 hours period before they will charged the overdraft fee but obviously that is not what happen, my mortgage payment being deducted before 12 and being charged the fees just after a minute sound pretty ridiculous to me…

• 

  jimpappa on 11/08/2022 - 08:12

  +1

  My Go account have gone into over draft many times because having to pay with EFPOS due to CC charges.
  As long as as I put some money before the end of the day, ANZ have never charged extra fees.

  • 

    doubledippps on 11/08/2022 - 18:04

    Yes that's is what I mean, it's also against what they stated on their website, I never gone into overdraft because they always have notification when account go below certain amount, except for this mortgage payment at midnight and wake up to see the charged already in my account

• 

  seifer on 11/08/2022 - 13:45

  +1

  I've been charged those in the past (from ASB) and it's very annoying.

  Quite a while ago there was a class action lawsuit lead by Andrew Hooker against the banks called "Fair Play on Fees". The aim was to stop banks from doing this shady practice and force them to refund these bogus fees to customers. You can read about it here:

  https://www.interest.co.nz/personal-finance/63514/parties-be…

  I haven't heard anything about it for ages so I Googled some more and found:

  https://www.rnz.co.nz/news/business/330389/bnz-settles-unfai…
  https://www.interest.co.nz/personal-finance/86589/fair-play-…

  "The Bank of New Zealand has settled with Fair Play on Fees, which has agreed to drop its legal action. The bank said it had made a contribution to the group's legal costs."

  "A Kiwibank spokesman had nothing to add. The state owned bank has always been very reluctant to even acknowledge the case. Kiwibank was the second bank, after ANZ NZ, that Fair Play on Fees moved against."

  "Asked about the cases against BNZ and Westpac NZ, Hooker said they are still before the court. Asked if no court case has, or will, be filed by Fair Play on Fees against ASB, he said; "No case has been filed at this stage." And asked what Fair Play on Fees has achieved on behalf of New Zealand bank customers, Hooker said; "No comment.""

  So it sounds like he and the rest of the legal team reached their the true goal of getting a payout from the banks to line their wallets with rolls eyes

  • 

    doubledippps on 11/08/2022 - 18:13

    +1

    Thanks for the info mate, so the customer are not being refunded but Andrew got all the money? I know such a hassle to contact them for hour just for a $3 charged everytime.

    • 

      seifer on 12/08/2022 - 14:52

      Yep based on how they backed down after getting a "contribution from the banks" it certainly seems that way and the banks are now free to continue charging those bogus fees.