Watch those Direct Debits in New Zealand.
I need to cancel a Direct Debit. No problem you would think? Hmmm, not so fast – this is the New Zealand Banking system, and so of course it just ain’t that simple.
In Avalon’s Guide, one of things I stress is:
And something which is vitally important: once you have closed down all your utilities in the UK, like gas, electricity, internet, and you have told them not to take any more money from you via Direct Debits – also tell your bank! You should always cancel your Direct Debits with the bank, and then if any company “forgets” that they shouldn’t be charging you anymore, they can’t get your money.
So I figured (I think rather sensibly) that I would do the same thing here. Cancel the Direct Debit at the bank just in case the company I’m dealing with (which so far has shown itself to be run by a bunch of bone idle morons) “forget” and try and take another premium.
But the bank wont do it.
Apparently, the only way to cancel the DD at the bank is to cancel my Credit Card and get a new one.
What???? 
Are these people for real?
This is despite a clause on the DD form that says:
2. The Customer may:
(a) At any time, terminate this Authority as to future payments
by giving written notice of termination to the Bank and to
the Initiator.
(b) Stop payment of any Direct Debit to be initiated under this
Authority by the Initiator by giving written notice to the
Bank prior to the Direct Debit being paid by the Bank.
Apparently, I cant.
So I contacted Direct Debit New Zealand, who were also as effective as a wet paper bag. Although they have said:
At directdebit.co.nz we are looking to increase the visibility of these
processes to ensure the “customer” controls the direct debit process more.
Which is nice.
So be warned. Here in New Zealand the Direct Debit system, which is supposed to offer us all sorts of protection, doesn’t.
The banks are ignoring their duty under the agreements we signed.
Like what Avalon has to say?
Click Here to buy Avalon's Guide or Click Here to buy the E-Book
Related posts:
- Westpac says I’m not a person.
- Avalon’s Money Thread: Moving your money to New Zealand
- Argghhh – Banks (again).
Comments
5 Comments on Watch those Direct Debits in New Zealand.
-
Deborah on
Fri, 20th Nov 2009 12:36 pm
-
bettyl on
Fri, 20th Nov 2009 12:47 pm
-
Avalon on
Fri, 20th Nov 2009 1:24 pm
-
Lea White on
Sun, 22nd Nov 2009 10:51 am
-
Avalon on
Tue, 24th Nov 2009 12:01 am
“Apparently, the only way to cancel the DD at the bank is to cancel my Credit Card and get a new one.”
It’s official, I’m sick and hallucinating.
D X
Oh and I finally received my reply from the good Dr C. He seems to think I’m an unlicensed immigration advisor. (rolling around the floor laughing smiley inserted here)
I’m not surprise at your post. Really. Even though our bank has been very good about our money, I make sure to check back and double check things. Thanks for the post.
Deb – are you serious???? Even I havent be offically accused to actually breaking the law 
Almost finshed with my 12 page “missive” back to the Minister. Some of the things ive read doing my research makes my skin crawl.
Betty,
Good on you. I always check my accounts – so I will spot if ING try and filch some money. But I shouldnt have to. My Bank should be looking out for my interests.
Bah Humbug!
Most of our things are set up as automatic payments which we set up ourselves and then we can cancel or change the amount at any time. It has worked well to date.
Lea – I think thats where I went wrong. I set up a Direct Debit rather than an Automatic Payment. Still – the bank should work in my interest and not the insurance company!
I will know for next time though
Tell me what you're thinking...
and oh, if you want a pic to show with your comment, go get a gravatar!
