Another time the ANZ directors f***ed up banking

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At my credit union that I worked at, we charged $10 to deposit plus conversion. I worked at a bank after that and theirs was a $5. It's pretty much happening everywhere.

I don’t know about the other banks here but there’s no charge at the TSB, plus they pay me interest! So once the 20th comes I’m shifting. It’s still, sadly, morally wrong—unless we can do the same to the bank when we take out a loan.

well move to where the money is I always say!

I recently left the credit union over poor service, and I'm now introducing myself to the "Banking" industry as a consumer. It's a mess!
You betcha! I just wonder why I didn’t to this any earlier.
You are correct, you are doing them a favor by being their customer and lending them your money. I wonder how many of today's bankers get this?
[this is good]
Last time I deposited a US$ cheque, they didn't charge me anything. I wonder if the word hasn't made it yet to my ANZ branch.
Brenda, the charge came in on March 1, so if it was before then, that’ll be why.
Ah, I checked. It was near the end of February. That explains that.
Sneaky, eh? They just creep in. Even oil companies advertise their price rises …
[this is good]

I hate the ANZ bank! It doesnt matter how you look at it they are thieves. They steal money from account ‘legitimately’ through unecessary rate rises/fees, and illegitimately though double charging fees then refusing to give the money back. Obviously, as internationally they are majorly stuffed, they are trying to make money by screwing the little people over. I was given the wrong loan 2 times and when the sale was about to fall through, the ANZ insisted I sign the wrong loan forms with a dont worry we’ll take care of it attitude. I was to do this or I wouldnt get the loan. They seemed honest at the time, if I could only take that action back. I was then charged for ‘extra loans’, although I was told I wouldnt be affected by their screw up. I have now been trying to get the money back for over 3 months. The people at the branch told me it was my fault and shouldnt have used their mobile lender. The ANZ mobile lender has said it is not her fault, its mine. The complaints department is overloaded as no one answers my calls, no one answers my emails. In three months I have 3 calls from ANZ. I figure Ive called them about 20, emailed them at least that number. They dont treat me like a customer, I am a problem that has not given up and gone away. To top it off, despite being instructed by the banking ombudsman to return my money they havent! I wish I had never heard of the ANZ bank. I hope they do go into liquidation!!! Then someone, anyone would be better than them to take over my loan!

Thank you for your comment, Calista. I read recently that their profits were down in NZ lately. No s***, Sherlock: word is getting around that customers are being screwed so we Kiwis are leaving these Australian banks in favour of NZ ones. I saw the Kiwibank ad about how the Aussies were moving the profits offshore and thought, ‘How true.’
I told a good friend of mine working at the ANZ (not at teller level) about the charges and she was actually shocked.
I truly believe all these “mistakes” are intentional in the hope no one fights them: I hear about them way more often than can be accounted for by “computer error”. If they ignore the Ombudsman that is actually a serious offence. I think there are some serious repercussions (getting fined?) but I need to look up what they are.
I realise this is an old post but cannot help commenting. I work for an ANZ branch and just wanted to clarify a few things. Firstly, the fee was introduced due to the large amounts of fraudulent cheques being presented, which in turn costed the bank money and the customer more than $5.00. On most occasions ANZ waive that particular fee if your cheque conversion falls below a certain NZD amount, usually $50.00, otherwise your exchance doesn't benefit you much at all. Secondly, of course you can earn interest on your deposit. At the end of the day it is your money, and yes you are correct your "lending" it to the bank, so you more than welcome to place it into a Savings accounts. If you deposit to a Transactional account, you will not earn interest. Simple.

And lastly, I find KiwiBank's advertising amusing how it states our profit is all offshored to Australia. Um, ANZ are listed on the NZX - profit in NZ right there. And your investments remain here in New Zealand - not Australia. Also, complaints can always be escalated through the Branch Manager, complaints division and The Banking Ombudsman, who ANZ as a bank will not disregard, because at the end of the day that's not achieving a positive goal and outcome for anyone. Oh and people go on about high ANZ fees? Try comparing our fees and terms and conditions with every other bank, you'll be pleasently surprised.

Yes I'm an ANZ employee and proud of the bank, and like every bank (including KiwiBank!), you will have your bad run in's, but you also have your good ones too. Cheers.
It’s pleasing to see loyalty: I appreciate that. But you folks have to lift your game. I was a long-time customer (of ANZ, National, POSB, Countrywide) that your policies pissed off once too often. Fees that were not supposed to have been charged were. Promises to reverse them were not kept.
Comparing your fees to TSB’s, I’m glad I made the move. ANZ even charged me for having a foreign currency account—$20 a month—while your competitor pays me interest. That’s $240 in bank fees saved just like that.
The fact that you have an explanation for the fee and your teller did not shows me that the bank suffers from internal communication issues. And I know it does, from another run-in with one of your management. At least you went further and were willing to defend your employer. Her choice was to piss me off more and confirm that I did the right thing by closing the majority of my accounts.
Last year, Australian-owned banks made $3·23 billion in profit from us through policies such as these. I don’t buy the notion that that stays onshore. If Kiwibank is wrong, sue them for misrepresentation, or at least report them to the Advertising Standards’ Authority, which is the advertising equivalent of the Ombudsman, whom I know personally.
I was so close to ANZ that I was the only customer at my local branch invited to staff farewells. That’s the sort of customer I was. Now, if I get treated this badly, I hate to think how people without that sort of personal connection get treated.

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Jack Yan

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Jack Yan
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From October 28, 2009, I can no longer get a compose screen on Vox without waiting between 15 minutes and two days of loading and refreshing. Consequently, from December 2009, this blog will no longer be (and can no longer be) regularly updated. I’m a patient man, but having regular six-hour load times for a single web page is a bit too much. Please contact me at the links below.
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