Comments on: Watch those Direct Debits in New Zealand. http://www.avalonsguide.com/anab/2009/11/watch-those-direct-debits-in-new-zealand/ Emigrate to New Zealand. There is no "One True Path" to emigrating. Thu, 11 Mar 2010 08:40:53 +1300 http://wordpress.org/?v=abc hourly 1 By: Avalon http://www.avalonsguide.com/anab/2009/11/watch-those-direct-debits-in-new-zealand/comment-page-1/#comment-8568 Avalon Thu, 11 Mar 2010 08:40:53 +0000 http://www.avalonsguide.com/anab/?p=1609#comment-8568 Thats really great info :) - but in this case - ASB refused to cancel a <blockquote>Direct Debit</blockquote> - where they were obliged to. They accepted the authority - but then refused to be bound by it. Thankfully the company taking the money did not try to filch more so we were ok, and i didnt have to make a fuss about it. Ive also managed to cancel payments by talking to the Visa Dept direct, but only in the UK. First Direct - my UK bank- had exceptional customer service, but the VISA dept often let them down badly. I don't envy you working for a bank! In any country thats got be a tough job right now. I feel so bad for my Bank Manager. She is a star - but she keeps getting screwed by the loan department who have a tendency to stuff everything up, and then its up to me and the manager to sort it out. And I completely agree with you about how many people don't understand how banks work. I'm currently trying to wrap my head around personal guarantees on loans - not easy. Hxxx Thats really great info :) – but in this case – ASB refused to cancel a
Direct Debit

– where they were obliged to. They accepted the authority – but then refused to be bound by it. Thankfully the company taking the money did not try to filch more so we were ok, and i didnt have to make a fuss about it. Ive also managed to cancel payments by talking to the Visa Dept direct, but only in the UK. First Direct – my UK bank- had exceptional customer service, but the VISA dept often let them down badly.

I don’t envy you working for a bank! In any country thats got be a tough job right now. I feel so bad for my Bank Manager. She is a star – but she keeps getting screwed by the loan department who have a tendency to stuff everything up, and then its up to me and the manager to sort it out.

And I completely agree with you about how many people don’t understand how banks work. I’m currently trying to wrap my head around personal guarantees on loans – not easy.

Hxxx

]]> By: Tim http://www.avalonsguide.com/anab/2009/11/watch-those-direct-debits-in-new-zealand/comment-page-1/#comment-8526 Tim Wed, 10 Mar 2010 15:48:27 +0000 http://www.avalonsguide.com/anab/?p=1609#comment-8526 You can remove a companies authority to deduct money from your account by calling your bank.... However if the company that you have the agreement with is unethical they may have got you to sign more then one authority, so when they realise that you have cancelled the authority for them to deduct funds they simply send through a further request. Sometimes companies will even photocopy the direct debit form you signed and just change the date.... I work for a bank and this happens heaps! There needs to be a major shake up of the law around this issue. The issue is further complicated by the public's poor understanding of banking systems. There are occasions where customers give their credit or debit card number to the company to make payments. These CANNOT be stopped by the bank, under the bank's contractual agreement with VISA or MASTERCARD (or any other credit provider) if a request from a merchant comes through and there is sufficient funds the transaction MUST be honoured. This of course is NOT a direct debit however a lot of people do get mixed up. The only way on the banks end to stop these is to cancel the card (as the card number is what is being used to access the funds.). But once again this does not work in 100% of cases. I have in the past actually had to close a customers account and open a new one to prevent illegal access by third party companies (this will work 100% of the time) as even if the companies are acting illegally, legal action to make them stop takes time...time in which they will take more payments You can remove a companies authority to deduct money from your account by calling your bank…. However if the company that you have the agreement with is unethical they may have got you to sign more then one authority, so when they realise that you have cancelled the authority for them to deduct funds they simply send through a further request. Sometimes companies will even photocopy the direct debit form you signed and just change the date….

I work for a bank and this happens heaps! There needs to be a major shake up of the law around this issue.

The issue is further complicated by the public’s poor understanding of banking systems. There are occasions where customers give their credit or debit card number to the company to make payments. These CANNOT be stopped by the bank, under the bank’s contractual agreement with VISA or MASTERCARD (or any other credit provider) if a request from a merchant comes through and there is sufficient funds the transaction MUST be honoured. This of course is NOT a direct debit however a lot of people do get mixed up. The only way on the banks end to stop these is to cancel the card (as the card number is what is being used to access the funds.). But once again this does not work in 100% of cases.

I have in the past actually had to close a customers account and open a new one to prevent illegal access by third party companies (this will work 100% of the time) as even if the companies are acting illegally, legal action to make them stop takes time…time in which they will take more payments

]]> By: Avalon http://www.avalonsguide.com/anab/2009/11/watch-those-direct-debits-in-new-zealand/comment-page-1/#comment-4511 Avalon Mon, 23 Nov 2009 11:01:50 +0000 http://www.avalonsguide.com/anab/?p=1609#comment-4511 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 :) 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 :)

]]> By: Lea White http://www.avalonsguide.com/anab/2009/11/watch-those-direct-debits-in-new-zealand/comment-page-1/#comment-4462 Lea White Sat, 21 Nov 2009 21:51:22 +0000 http://www.avalonsguide.com/anab/?p=1609#comment-4462 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. 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.

]]> By: Avalon http://www.avalonsguide.com/anab/2009/11/watch-those-direct-debits-in-new-zealand/comment-page-1/#comment-4381 Avalon Fri, 20 Nov 2009 00:24:59 +0000 http://www.avalonsguide.com/anab/?p=1609#comment-4381 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! 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!

]]> By: bettyl http://www.avalonsguide.com/anab/2009/11/watch-those-direct-debits-in-new-zealand/comment-page-1/#comment-4379 bettyl Thu, 19 Nov 2009 23:47:13 +0000 http://www.avalonsguide.com/anab/?p=1609#comment-4379 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. 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.

]]> By: Deborah http://www.avalonsguide.com/anab/2009/11/watch-those-direct-debits-in-new-zealand/comment-page-1/#comment-4378 Deborah Thu, 19 Nov 2009 23:36:48 +0000 http://www.avalonsguide.com/anab/?p=1609#comment-4378 <blockquote>"Apparently, the only way to cancel the DD at the bank is to cancel my Credit Card and get a new one."</blockquote> 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)

“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)

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