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tardtasticx

3075 posts

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#151512 27-Aug-2014 21:25
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Hi there,

So two friends of mine finally moved away from ANZ over to ASB and they couldn't be happier with that.

They both were $1,500 in overdraft (tertiary account) with 1 savings and a kiwi saver account as well. When they moved ASB used the overdraft on their new account to pay off the old one and even increased it for them. They overpaid it by $50 incase of any fees apparently.

But now both those ANZ accounts are closed, neither of them have seen that $50. It's been nearly a week now. I made sure they both cancelled their Automatic Payments themselves online to avoid those fees but as far as we could see online there are no other fees for those account types. 

Has anyone had any experience with this? These friends aren't the type of people to make a fuss, so don't want to call ANZ, but $50 is $50 and I'd be fuming tbh. 

-Sam

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eracode
Smpl Mnmlst
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  #1116943 28-Aug-2014 02:21
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It's not a matter of 'not wanting to make a fuss' - they should contact ANZ and demand to know what's going on. It's a matter of principle (or, in this case, maybe principal). Don't give these banks an inch.




Sometimes I just sit and think. Other times I just sit.




tardtasticx

3075 posts

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  #1117287 28-Aug-2014 14:51
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eracode: It's not a matter of 'not wanting to make a fuss' - they should contact ANZ and demand to know what's going on. It's a matter of principle (or, in this case, maybe principal). Don't give these banks an inch.


Thats why I posted here on their behalf. If I could I'd ring ANZ for them too but that isn't gonna happen haha. Will try convince them to ring today.

Bee

Bee
732 posts

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  #1117302 28-Aug-2014 15:26
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did they have internet banking with ANZ? does that still work?  the details should be there or else send a bank mail or go into a branch and ask for a statement to see what happened...

Worst case:  Interest on $1500 should be $32 maybe then an account fee of $10 max so there should be SOME change out of $50...




Doing your best is much more important than being the best.




khull
1245 posts

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  #1117357 28-Aug-2014 16:48
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But now both those ANZ accounts are closed, neither of them have seen that $50.


I'd storm in an demand it back and charge them interest for every day it the balance is with them.

I got the shock of my life when I went into ANZ querying a transaction on my credit card and the lady over the counter didn't want to know anything about it. And I thought I did the right thing as the amount has not appeared on my account which probably meant that it was just a hold on the funds while the merchant settles. Any disputes should be raised within their 30 day timeframe.

Instead, ANZ blamed me for allowing the transaction to go through and told me to follow up with the Fair Trading Act with the retailer to make right.

I had a copy of the merchant agreement that ANZ publishes but that was enough for me to say goodbye to ANZ which I will progressively move my recurring payments off them.


tardtasticx

3075 posts

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  #1117541 28-Aug-2014 21:07
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Bee: did they have internet banking with ANZ? does that still work?  the details should be there or else send a bank mail or go into a branch and ask for a statement to see what happened...

Worst case:  Interest on $1500 should be $32 maybe then an account fee of $10 max so there should be SOME change out of $50...


They did have internet banking, but thats since stopped working unfortunately.

Still haven't spoken to them yet but will ask them to follow up as I feel i'm more interested in seeing this through then them now haha.

I don't think there would be interest on the account as it was an interest free overdraft which had a $3 monthly fee IIRC. I might go into a branch with them next week that way they're probably less likely to fob us off. 

tardtasticx

3075 posts

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  #1117544 28-Aug-2014 21:09
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khull:
But now both those ANZ accounts are closed, neither of them have seen that $50.


I'd storm in an demand it back and charge them interest for every day it the balance is with them.

I got the shock of my life when I went into ANZ querying a transaction on my credit card and the lady over the counter didn't want to know anything about it. And I thought I did the right thing as the amount has not appeared on my account which probably meant that it was just a hold on the funds while the merchant settles. Any disputes should be raised within their 30 day timeframe.

Instead, ANZ blamed me for allowing the transaction to go through and told me to follow up with the Fair Trading Act with the retailer to make right.

I had a copy of the merchant agreement that ANZ publishes but that was enough for me to say goodbye to ANZ which I will progressively move my recurring payments off them.



What a joke. I don't understand why they would make something like that so difficult for you when it doesn't have to be, surely they'd want to keep customers happy. Every time i had a disputed payment with ASB they would refund it, even for a $1.50 charge I had once from BP OIL apparently. Didnt make a fuss just done it. 

khull
1245 posts

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  #1117811 29-Aug-2014 11:27
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tardtasticx:
khull:
But now both those ANZ accounts are closed, neither of them have seen that $50.


I'd storm in an demand it back and charge them interest for every day it the balance is with them.

I got the shock of my life when I went into ANZ querying a transaction on my credit card and the lady over the counter didn't want to know anything about it. And I thought I did the right thing as the amount has not appeared on my account which probably meant that it was just a hold on the funds while the merchant settles. Any disputes should be raised within their 30 day timeframe.

Instead, ANZ blamed me for allowing the transaction to go through and told me to follow up with the Fair Trading Act with the retailer to make right.

I had a copy of the merchant agreement that ANZ publishes but that was enough for me to say goodbye to ANZ which I will progressively move my recurring payments off them.



What a joke. I don't understand why they would make something like that so difficult for you when it doesn't have to be, surely they'd want to keep customers happy. Every time i had a disputed payment with ASB they would refund it, even for a $1.50 charge I had once from BP OIL apparently. Didnt make a fuss just done it. 



Agreed - Unfortunately I am billed out to the client to be productive and was not prepared to spend my work hours arguing with ANZ staff how they should be doing their job. ANZ have a form that indicates reasons for disputed transactions (e.g. double charge, charged incorrectly, incorrect goods received or defective). The refused to process this for me blaming that I allowed the payment to go through online and nothing could be done.
 
It was implied the form was intended to be for physical goods (rather than services) and disputes with merchants with a physical presence. What rubbish.

 
 
 

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RickD
280 posts

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  #1118320 30-Aug-2014 04:03
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When you close an account, O/D interest due and uncharged fees should be calculated on the spot, and if you are in credit, you should be given the option of cheque, cash or transfer payment. How did they close the accounts, in person in a branch? I didn't think you could close accounts over the phone.

tardtasticx

3075 posts

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  #1118685 30-Aug-2014 18:51
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They're following it up with ANZ now, awaiting on them to look into it apparently. I suspect they won't hear back unless they call them Monday. 

The accounts were a tertiary account with an interest free overdraft, so interest was never charged, and should not have been charged as well.

As above, ASB initiated the closure process so neither of my mates ever had to speak to ANZ until they asked about the fees. Will post back once we know anything more.

tardtasticx

3075 posts

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  #1118812 31-Aug-2014 02:15
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Update again, one of them just told me ANZ contacted them back and they've transferred the remaining funds over, minus the $3 overdraft facility fee. Assuming the other got a similar call but I've got to wonder what would have happened if this wasn't raised. They didn't seem to keen on following it up. 

RickD
280 posts

Ultimate Geek


  #1119173 31-Aug-2014 21:28
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It's strange that ASB was able to initiate a closure of an ANZ account, I thought the customer had to do it in person in the branch. I know other banks can do balance transfers etc to assist with closing other bank accounts, but it's usually up to the customer to go to their original bank and close the account, so maybe their ANZ account was not actually closed, just the O/D paid off...

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