Latest ASB - Firefox - Netcode... Never heard of it !

Discussion in 'NZ Computing' started by Sharktyymbfj, Nov 9, 2005.

  1. Sharktyymbfj

    Sharktyymbfj Guest

    Here's their letter:

    Thank you for your email regarding Netcode.

    All payments made to self-selected bill payees (people or organisations you
    wish to pay) who you have set up yourself in FastNet Classic will require a
    Netcode where the payments combine to exceed your Netcode daily limit.

    The maximum limit is now $800. If the payment was self-selected before
    Netcode launched on 14 December 2004, or is made to a payee authority set up
    via our Contact Centre or through a branch, you will not require a Netcode
    because an ASB representative will already have authenticated you as the
    account owner.

    I would suggest you have the regular payments you make set up as bill
    payment authorities. As this needs to be loaded by an ASB staff member you
    will not require Netcode each time you make a payment. If you would like a
    bill payment loaded for you please phone our Contact Centre on the number
    provided below.

    Protection from online fraud is a shared responsibility between ASB and our
    customers, and requires constant development as both the number of customers
    using Fastnet and the number of transactions conducted daily grows
    significantly.

    Thank you again for your comments, I have passed this feedback onto our
    Marketing department.

    We are also reminding our customers if you are looking at purchasing a new
    home or topping up your existing mortgage, we have lending specialists you
    can talk to over the phone. To speak with a Lending Specialist please reply
    to this email with your contact details and a convenient time for them to
    call. (ASB Bank Limited home loan criteria and a fee of up to $500 apply. A
    low equity fee may apply. )

    In addition to this, if there is anything else we can help you with, please
    contact us anytime on the email address or telephone number below.



    Here's my reply, 4/11/05:

    This email is not only absolute drivel but it also smacks of a form email!

    In business, I sometimes need to pay a one off commission fee or consultancy
    fee of $1000 - $5000 as I do database design and these people may never be
    paid by me again.

    What you seem to forget is that this is my money and I should be able to do
    what I like with it.

    You are saying I can't be trusted to make a one-off payment of over $800 and
    to add to the cheek of it, you want to charge me extra for it.

    The upshot is that you don't trust me to safeguard my details and yet you
    fall over yourselves to give me a Visa card with an $8000 limit without me
    asking for it.

    I have today contacted TSB and they are sending me a package.

    All being equal, I will be leaving this bank that I've been with for
    sometime now and regretfully because generally the service has been good but
    I will not tolerate this draconian measure.

    So far there hasn't been any response but wait there's more:

    Remember this bit:

    "Protection from online fraud is a shared responsibility between ASB and our
    customers, and requires constant development as both the number of customers
    using Fastnet and the number of transactions conducted daily grows
    significantly."



    They sent my Visa card, unsigned, to the wrong address!




    --
    Sharktyymbfj
     
    Sharktyymbfj, Nov 9, 2005
    #1
    1. Advertising

  2. Sharktyymbfj

    Bret Guest

    On Wed, 9 Nov 2005 15:19:24 +1300, "Sharktyymbfj"
    <> wrote:

    >
    >"Protection from online fraud is a shared responsibility between ASB and our
    >customers, and requires constant development as both the number of customers
    >using Fastnet and the number of transactions conducted daily grows
    >significantly."
    >
    >
    >
    >They sent my Visa card, unsigned, to the wrong address!


    You failed in your shared responsibility by not living in the correct
    house :)
     
    Bret, Nov 9, 2005
    #2
    1. Advertising

  3. Sharktyymbfj

    Sharktyymbfj Guest

    "Bret" <> wrote in message
    news:...
    > On Wed, 9 Nov 2005 15:19:24 +1300, "Sharktyymbfj"
    > <> wrote:
    >
    >>
    >>"Protection from online fraud is a shared responsibility between ASB and
    >>our
    >>customers, and requires constant development as both the number of
    >>customers
    >>using Fastnet and the number of transactions conducted daily grows
    >>significantly."
    >>
    >>
    >>
    >>They sent my Visa card, unsigned, to the wrong address!

    >
    > You failed in your shared responsibility by not living in the correct
    > house :)


    TMML.


    --
    Sharktyymbfj
     
    Sharktyymbfj, Nov 9, 2005
    #3
  4. Sharktyymbfj

    MarkH Guest

    "Sharktyymbfj" <> wrote in
    news:R0dcf.1844$:


    > I have today contacted TSB and they are sending me a package.


    I am with Westpac and TSB currently.

    Westpac has a better Internet banking system.

    TSB do not offer business banking outside of the Taranaki region.
    With the TSB Internet banking system you cannot add payees yourself, you
    have to fill in a form and post it to them (they supply prepaid envelopes).
    You cannot bank a cheque written out to your company name (this is the main
    reason I still have my Westpac account). Cash or cheques that are made out
    to you can be deposited at your closest postshop.


    --
    Mark Heyes (New Zealand)
    See my pics at www.gigatech.co.nz (last updated 5-September-05)
    "The person on the other side was a young woman. Very obviously a
    young woman. There was no possible way she could have been mistaken
    for a young man in any language, especially Braille."
    Maskerade
     
    MarkH, Nov 9, 2005
    #4
  5. Sharktyymbfj

    Sharktyymbfj Guest

    "MarkH" <> wrote in message
    news:52ecf.235748$...
    > "Sharktyymbfj" <> wrote in
    > news:R0dcf.1844$:
    >
    >
    >> I have today contacted TSB and they are sending me a package.

    >
    > I am with Westpac and TSB currently.
    >
    > Westpac has a better Internet banking system.


    Their service apparently sucks but maybe online as you DIY maybe okay?
    >
    > TSB do not offer business banking outside of the Taranaki region.
    > With the TSB Internet banking system you cannot add payees yourself, you
    > have to fill in a form and post it to them (they supply prepaid
    > envelopes).
    > You cannot bank a cheque written out to your company name (this is the
    > main
    > reason I still have my Westpac account). Cash or cheques that are made
    > out
    > to you can be deposited at your closest postshop.


    Yeah, I discovered that. Bummer. Looking at HSBC, prefer not Bank Direct as
    they are allied with ASB.


    --
    Sharktyymbfj
     
    Sharktyymbfj, Nov 9, 2005
    #5
  6. Sharktyymbfj

    Not Dave Guest

    On Wed, 9 Nov 2005 15:19:24 +1300, "Sharktyymbfj"
    <> growled these words from under a rock:

    >Here's their letter:
    >
    >Thank you for your email regarding Netcode.
    >
    >All payments made to self-selected bill payees (people or organisations you
    >wish to pay) who you have set up yourself in FastNet Classic will require a
    >Netcode where the payments combine to exceed your Netcode daily limit.
    >
    >The maximum limit is now $800. If the payment was self-selected before
    >Netcode launched on 14 December 2004, or is made to a payee authority set up
    >via our Contact Centre or through a branch, you will not require a Netcode
    >because an ASB representative will already have authenticated you as the
    >account owner.
    >
    >I would suggest you have the regular payments you make set up as bill
    >payment authorities. As this needs to be loaded by an ASB staff member you
    >will not require Netcode each time you make a payment. If you would like a
    >bill payment loaded for you please phone our Contact Centre on the number
    >provided below.
    >
    >Protection from online fraud is a shared responsibility between ASB and our
    >customers, and requires constant development as both the number of customers
    >using Fastnet and the number of transactions conducted daily grows
    >significantly.
    >
    >Thank you again for your comments, I have passed this feedback onto our
    >Marketing department.
    >
    >We are also reminding our customers if you are looking at purchasing a new
    >home or topping up your existing mortgage, we have lending specialists you
    >can talk to over the phone. To speak with a Lending Specialist please reply
    >to this email with your contact details and a convenient time for them to
    >call. (ASB Bank Limited home loan criteria and a fee of up to $500 apply. A
    >low equity fee may apply. )
    >
    >In addition to this, if there is anything else we can help you with, please
    >contact us anytime on the email address or telephone number below.
    >
    >
    >
    >Here's my reply, 4/11/05:
    >
    >This email is not only absolute drivel but it also smacks of a form email!
    >
    >In business, I sometimes need to pay a one off commission fee or consultancy
    >fee of $1000 - $5000 as I do database design and these people may never be
    >paid by me again.
    >
    >What you seem to forget is that this is my money and I should be able to do
    >what I like with it.
    >
    >You are saying I can't be trusted to make a one-off payment of over $800 and
    >to add to the cheek of it, you want to charge me extra for it.
    >
    >The upshot is that you don't trust me to safeguard my details and yet you
    >fall over yourselves to give me a Visa card with an $8000 limit without me
    >asking for it.
    >
    >I have today contacted TSB and they are sending me a package.
    >
    >All being equal, I will be leaving this bank that I've been with for
    >sometime now and regretfully because generally the service has been good but
    >I will not tolerate this draconian measure.
    >
    >So far there hasn't been any response but wait there's more:
    >
    >Remember this bit:
    >
    >"Protection from online fraud is a shared responsibility between ASB and our
    >customers, and requires constant development as both the number of customers
    >using Fastnet and the number of transactions conducted daily grows
    >significantly."
    >
    >
    >They sent my Visa card, unsigned, to the wrong address!


    So you're worried about a 25c fee on a "$1000-$5000" transaction? I
    bet that 25c fee wouldn't seem so bad if someone else got your
    details, and helped themselves to a "$1000-$5000", or more.

    Look at it this way. Some banks don't even allow you to do one-off
    payments online. ASB are saying that, yep, you can do it up to $800 no
    worries. Over $800, either give them a ring, or type in a code they'll
    send to your cellphone, for a measley 25c fee. Since they charge me $3
    every time I put $1K in cash in our account, I really don't see the
    problem with a 25c fee, of which you are actually getting something
    for.

    All banks have a moral and legal responsibility to protect your money.
    Although their netcode can be a little frustrating, I congratulate
    them on their initiative.

    And before you think I'm aligned with them in some way, we do have an
    account with them, but we are in the process of changing because
    they've really pissed us off. Nothing to do with Netcode, more to do
    with the fact that they're a shitty bank for business. We're moving to
    National Bank, because, quite simply, they are NZ's only business bank
    left.
     
    Not Dave, Nov 9, 2005
    #6
  7. Not Dave wrote:
    > On Wed, 9 Nov 2005 15:19:24 +1300, "Sharktyymbfj"
    > <> growled these words from under a rock:
    >
    >> Here's their letter:
    >>
    >> Thank you for your email regarding Netcode.
    >>
    >> All payments made to self-selected bill payees (people or organisations you
    >> wish to pay) who you have set up yourself in FastNet Classic will require a
    >> Netcode where the payments combine to exceed your Netcode daily limit.
    >>
    >> The maximum limit is now $800. If the payment was self-selected before
    >> Netcode launched on 14 December 2004, or is made to a payee authority set up
    >> via our Contact Centre or through a branch, you will not require a Netcode
    >> because an ASB representative will already have authenticated you as the
    >> account owner.
    >>
    >> I would suggest you have the regular payments you make set up as bill
    >> payment authorities. As this needs to be loaded by an ASB staff member you
    >> will not require Netcode each time you make a payment. If you would like a
    >> bill payment loaded for you please phone our Contact Centre on the number
    >> provided below.
    >>
    >> Protection from online fraud is a shared responsibility between ASB and our
    >> customers, and requires constant development as both the number of customers
    >> using Fastnet and the number of transactions conducted daily grows
    >> significantly.
    >>
    >> Thank you again for your comments, I have passed this feedback onto our
    >> Marketing department.
    >>
    >> We are also reminding our customers if you are looking at purchasing a new
    >> home or topping up your existing mortgage, we have lending specialists you
    >> can talk to over the phone. To speak with a Lending Specialist please reply
    >> to this email with your contact details and a convenient time for them to
    >> call. (ASB Bank Limited home loan criteria and a fee of up to $500 apply. A
    >> low equity fee may apply. )
    >>
    >> In addition to this, if there is anything else we can help you with, please
    >> contact us anytime on the email address or telephone number below.
    >>
    >>
    >>
    >> Here's my reply, 4/11/05:
    >>
    >> This email is not only absolute drivel but it also smacks of a form email!
    >>
    >> In business, I sometimes need to pay a one off commission fee or consultancy
    >> fee of $1000 - $5000 as I do database design and these people may never be
    >> paid by me again.
    >>
    >> What you seem to forget is that this is my money and I should be able to do
    >> what I like with it.
    >>
    >> You are saying I can't be trusted to make a one-off payment of over $800 and
    >> to add to the cheek of it, you want to charge me extra for it.
    >>
    >> The upshot is that you don't trust me to safeguard my details and yet you
    >> fall over yourselves to give me a Visa card with an $8000 limit without me
    >> asking for it.
    >>
    >> I have today contacted TSB and they are sending me a package.
    >>
    >> All being equal, I will be leaving this bank that I've been with for
    >> sometime now and regretfully because generally the service has been good but
    >> I will not tolerate this draconian measure.
    >>
    >> So far there hasn't been any response but wait there's more:
    >>
    >> Remember this bit:
    >>
    >> "Protection from online fraud is a shared responsibility between ASB and our
    >> customers, and requires constant development as both the number of customers
    >> using Fastnet and the number of transactions conducted daily grows
    >> significantly."
    >>
    >>
    >> They sent my Visa card, unsigned, to the wrong address!

    >
    > So you're worried about a 25c fee on a "$1000-$5000" transaction? I
    > bet that 25c fee wouldn't seem so bad if someone else got your
    > details, and helped themselves to a "$1000-$5000", or more.


    You're an idiot, it is purely about collecting fees, nothing more.

    > Look at it this way. Some banks don't even allow you to do one-off
    > payments online. ASB are saying that, yep, you can do it up to $800 no


    Some banks don't charge for money withdrawals and transfers to other NZ
    banks (which makes a limit of $2,500 more appealing - the old NetCode
    limit for ASB), don't charge for EFTPOS transactions, don't charge a
    monthly base fee, and allow direct direct deposit/withdrawal to/from
    their high-interest accounts. ASB fails on every one of those points.

    For business they have been good to us, but I won't be putting future
    accounts with them.

    The Other Guy
     
    The Other Guy, Nov 9, 2005
    #7
  8. Sharktyymbfj

    Not Dave Guest

    On Wed, 09 Nov 2005 19:31:58 +1300, The Other Guy
    <> growled these words from under a rock:

    >> So you're worried about a 25c fee on a "$1000-$5000" transaction? I
    >> bet that 25c fee wouldn't seem so bad if someone else got your
    >> details, and helped themselves to a "$1000-$5000", or more.

    >
    >You're an idiot, it is purely about collecting fees, nothing more.


    Bollocks it is. If it was just about collecting fees, they'd just put
    a 25c fee on online transactions, rather than going to the
    considerable trouble and expense of implementing NZ's most
    forward-thinking and secure payment method.

    >> Look at it this way. Some banks don't even allow you to do one-off
    >> payments online. ASB are saying that, yep, you can do it up to $800 no

    >
    >Some banks don't charge for money withdrawals and transfers to other NZ
    >banks (which makes a limit of $2,500 more appealing - the old NetCode
    >limit for ASB), don't charge for EFTPOS transactions, don't charge a
    >monthly base fee, and allow direct direct deposit/withdrawal to/from
    >their high-interest accounts. ASB fails on every one of those points.
    >
    >For business they have been good to us, but I won't be putting future
    >accounts with them.


    I've found them to be absolutely shit as a business bank.
     
    Not Dave, Nov 9, 2005
    #8
  9. Sharktyymbfj

    Fran Guest

    Not Dave wrote:

    > On Wed, 09 Nov 2005 19:31:58 +1300, The Other Guy
    > <> growled these words from under a rock:
    >
    >>> So you're worried about a 25c fee on a "$1000-$5000" transaction? I
    >>> bet that 25c fee wouldn't seem so bad if someone else got your
    >>> details, and helped themselves to a "$1000-$5000", or more.

    >>
    >>You're an idiot, it is purely about collecting fees, nothing more.

    >
    > Bollocks it is. If it was just about collecting fees, they'd just put
    > a 25c fee on online transactions, rather than going to the
    > considerable trouble and expense of implementing NZ's most
    > forward-thinking and secure payment method.



    They do have a min 20c fee on online transactions...

    "Other Electronic Transactions: Direct Credits, Direct Debits, FastNet
    Classic or FastPhone transfers, Speedy Deposits, mPayments
    20-30c

    Automatic Payments / Bill Payments
    20c-50c"

    The 25c is in addition to these...

    Fran
    :):):)
     
    Fran, Nov 9, 2005
    #9
  10. Sharktyymbfj

    MarkH Guest

    "Sharktyymbfj" <> wrote in
    news:V8ecf.1860$:

    >
    > "MarkH" <> wrote in message
    > news:52ecf.235748$...
    >> "Sharktyymbfj" <> wrote in
    >> news:R0dcf.1844$:
    >>
    >>
    >>> I have today contacted TSB and they are sending me a package.

    >>
    >> I am with Westpac and TSB currently.
    >>
    >> Westpac has a better Internet banking system.

    >
    > Their service apparently sucks but maybe online as you DIY maybe okay?
    >>
    >> TSB do not offer business banking outside of the Taranaki region.
    >> With the TSB Internet banking system you cannot add payees yourself,
    >> you have to fill in a form and post it to them (they supply prepaid
    >> envelopes).
    >> You cannot bank a cheque written out to your company name (this is
    >> the main
    >> reason I still have my Westpac account). Cash or cheques that are
    >> made out
    >> to you can be deposited at your closest postshop.

    >
    > Yeah, I discovered that. Bummer. Looking at HSBC, prefer not Bank
    > Direct as they are allied with ASB.


    Interesting choice, HSBC being dead last on Consumer Magazine's bank
    survey.


    --
    Mark Heyes (New Zealand)
    See my pics at www.gigatech.co.nz (last updated 5-September-05)
    "The person on the other side was a young woman. Very obviously a
    young woman. There was no possible way she could have been mistaken
    for a young man in any language, especially Braille."
    Maskerade
     
    MarkH, Nov 9, 2005
    #10
  11. In article <52ecf.235748$>,
    says...
    >
    > TSB do not offer business banking outside of the Taranaki region.
    > With the TSB Internet banking system you cannot add payees yourself, you
    > have to fill in a form and post it to them (they supply prepaid envelopes).
    > You cannot bank a cheque written out to your company name (this is the main
    > reason I still have my Westpac account). Cash or cheques that are made out
    > to you can be deposited at your closest postshop.
    >


    Starting to get off topic, but what the hey.
    I left the Asb many years ago because they jacked up the fees someting
    awful, they got sold over the ditch and I was just miffed. So I went to
    TSB. They had this wonderful spiel. Only NZ owned bank. Highest interest
    rates on cheque accounts. No account fees. Freepost envelopes.

    Then the bait and switch began.
    First thing I noted is, they only pay interest monthly rather than
    daily, and on the one single lowest amount in the account in that month.
    So if I have 20 grand in there for 30 days and then go down to 500 for
    the 31st, I will only get interest on 500. This actually happened to me
    on several occasions. I was not thrilled. I've calculated that this has
    actually cost me hundereds of dollars over a single year.

    Before you know it, they were no longer not charging account fees: only
    if you keep more than 5 grand in the account for each and every day of
    the month, will you not pay account fees. Yeah, right. And their 'fixed
    charge' is higher than what I pay ASB 11 months out of 12 :-(

    The 'high' interest rates dropped, by 40%.

    I timed my transactions wront. I paid for some stock two days before I
    got a big payout from Affco. TSB rang, they were most upset. No, they
    couldn't wait 2 days for the 200 bucks I was overdrawn. I had to fix it
    NOW. I spent half a day on the phone until I got somebody at Affco who
    could authorize an immediate payment ... but that's not all. 18 months
    later, I made another mistake, forgot to top up the cheque account from
    savings. Paid a big cheque. TSB bounced it, just like that. I rang up -
    why? "We tried to reach you (they never did, I was home all day) and
    since you had overdrawn your account before (!!!) we bounced the
    cheque." Overdrawn before??? Like, how many times a month? A week?
    And they charged me 30 bucks as well.

    Then they were up on Fair go because they ripped some couple off on some
    foreign currency exchange.

    Man, I was outta there. I went back to the ASB, where I can have mostly
    decent internet banking, get charged less in account fees than at TSB
    and they never bounce my cheques. If there is a problem, they damn well
    call me - usually a couple of days after paying up. They know I am good
    for it f.f.s.

    TSB is the plague in a glittery gold suit, IMO. Never mind the free
    envelopes.

    Yeah, I also loathe the ASB netcode thing. My local branch manager is an
    incompetent twit who crawls under her desk when she hears I want to see
    her and pretends she's out for lunch, but they're much more straight up
    in their dealing than TSB.

    -Peter

    --
    =========================================
    firstname dot lastname at gmail fullstop com
     
    Peter Huebner, Nov 9, 2005
    #11
  12. Sharktyymbfj

    MarkH Guest

    Peter Huebner <> wrote in
    news::

    > In article <52ecf.235748$>,
    > says...
    >>
    >> TSB do not offer business banking outside of the Taranaki region.
    >> With the TSB Internet banking system you cannot add payees yourself,
    >> you have to fill in a form and post it to them (they supply prepaid
    >> envelopes). You cannot bank a cheque written out to your company name
    >> (this is the main reason I still have my Westpac account). Cash or
    >> cheques that are made out to you can be deposited at your closest
    >> postshop.
    >>

    >
    > Starting to get off topic, but what the hey.
    > I left the Asb many years ago because they jacked up the fees someting
    > awful, they got sold over the ditch and I was just miffed. So I went
    > to TSB. They had this wonderful spiel. Only NZ owned bank. Highest
    > interest rates on cheque accounts. No account fees. Freepost
    > envelopes.
    >
    > Then the bait and switch began.
    > First thing I noted is, they only pay interest monthly rather than
    > daily, and on the one single lowest amount in the account in that
    > month. So if I have 20 grand in there for 30 days and then go down to
    > 500 for the 31st, I will only get interest on 500. This actually
    > happened to me on several occasions. I was not thrilled. I've
    > calculated that this has actually cost me hundereds of dollars over a
    > single year.


    All I can say is they must have changed since them, there is no 'bait
    and switch' now. Everything you mention is honestly explained up front
    now.

    > Before you know it, they were no longer not charging account fees:
    > only if you keep more than 5 grand in the account for each and every
    > day of the month, will you not pay account fees. Yeah, right. And
    > their 'fixed charge' is higher than what I pay ASB 11 months out of 12
    > :-(


    With Westpac I could have a balance that never drops below $20k and
    still be charged account fees.

    > The 'high' interest rates dropped, by 40%.


    Are you saying that they dropped their rates at a time when interest
    rates were generally not dropping? What did they drop from and to? If
    I look at the interest rates currently offered then calculate what they
    would be before a 40% drop then they would have to start VERY high.
    Currently the bottom rate (for $1 - $20K) is 5%. If it had been higher
    and dropped by 40% then it would have to drop from 8.33%.

    > I timed my transactions wront. I paid for some stock two days before I
    > got a big payout from Affco. TSB rang, they were most upset. No, they
    > couldn't wait 2 days for the 200 bucks I was overdrawn. I had to fix
    > it NOW. I spent half a day on the phone until I got somebody at Affco
    > who could authorize an immediate payment ... but that's not all. 18
    > months later, I made another mistake, forgot to top up the cheque
    > account from savings. Paid a big cheque. TSB bounced it, just like
    > that. I rang up - why? "We tried to reach you (they never did, I was
    > home all day) and since you had overdrawn your account before (!!!) we
    > bounced the cheque." Overdrawn before??? Like, how many times a month?
    > A week? And they charged me 30 bucks as well.


    You get upset when they don't give you an unauthorised overdraft? This
    sounds like the same complaint that I have heard about many banks. Did
    they have some way of knowing you were about to get a big payout? The
    other cases I have heard about involved a regular paycheck and the bank
    (I don't remember which specific bank) not honouring a cheque or AP on
    the day before.

    > Then they were up on Fair go because they ripped some couple off on
    > some foreign currency exchange.


    I have seen insurance companies on Fair Go because they wouldn't pay
    someone that they had no obligation to pay. Without more details this
    means nothing to me.

    > Man, I was outta there. I went back to the ASB, where I can have
    > mostly decent internet banking, get charged less in account fees than
    > at TSB and they never bounce my cheques. If there is a problem, they
    > damn well call me - usually a couple of days after paying up. They
    > know I am good for it f.f.s.
    >
    > TSB is the plague in a glittery gold suit, IMO. Never mind the free
    > envelopes.
    >
    > Yeah, I also loathe the ASB netcode thing. My local branch manager is
    > an incompetent twit who crawls under her desk when she hears I want to
    > see her and pretends she's out for lunch, but they're much more
    > straight up in their dealing than TSB.
    >
    > -Peter


    It sounds like your experiences are rather atypical. In the short time
    that I have been with TSB they have put up my interest rate 4 times.
    There is a $10 per month account fee, but it is waived if you maintain a
    balance of over $5k for the month.

    I have never seen anything from TSB that states they will always honour
    your cheques, even when you don't have the money. They don't say they
    will never drop their interest rate either.

    To be honest I see it quite fair that interest is only paid on the
    minimum monthly balance. If you have a decent amount of money in your
    acount for a few months then you deserve some decent interest on that.
    But if you have large amounts of money coming a going then the bank
    cannot use that money for anything as you are likely to withdraw it at
    any time. But feel free to let us know what account is available that
    will pay more in interest.

    TSB is not perfect and it is easy to think of several fair critisisms,
    but your complaints really don't sound very reasonable. According to
    Consumer Magazine's survey most customers (like me) find that TSB lives
    up to its promises quite well.

    If you think that $10 per month in account fees is dear then you should
    try a cheque account with Westpac:
    No interest at all (regardless of balance)
    Monthly account fees + yearly account fees (it cost me $52 for the
    account excluding any costs for activity, regardless of balance)
    All EFT-POS transactions cost money.

    With TSB:
    $10 per month account fee (Waived if balance does not drop below $5k)
    At least 5% interest paid (on minimum monthly balance)
    All EFT-POS transactions are free (unlimited number)


    When I compared fees charged and interest earned between Westpac and TSB
    I found several hundred dollars difference (due to high fees from
    Westpac and good interest from TSB).


    --
    Mark Heyes (New Zealand)
    See my pics at www.gigatech.co.nz (last updated 5-September-05)
    "The person on the other side was a young woman. Very obviously a
    young woman. There was no possible way she could have been mistaken
    for a young man in any language, especially Braille."
    Maskerade
     
    MarkH, Nov 9, 2005
    #12
  13. In article <dAscf.243373$>,
    says...
    > > The 'high' interest rates dropped, by 40%.

    >
    > Are you saying that they dropped their rates at a time when interest
    > rates were generally not dropping? What did they drop from and to?


    They dropped from 5% for the top rate to 2% or 3% within a year of my
    joining them. It's been a few years now, and I think it was down to 3,
    but it may have been 2.

    > You get upset when they don't give you an unauthorised overdraft? This
    > sounds like the same complaint that I have heard about many banks. Did
    > they have some way of knowing you were about to get a big payout? The
    > other cases I have heard about involved a regular paycheck and the bank
    > (I don't remember which specific bank) not honouring a cheque or AP on
    > the day before.


    I did get upset about how they went about it. They did have a way of
    knowing because I told them on the phone, yet their supervisor insisted
    I cover it *immediately*.

    Look, I don't expect an unapproved overdraft. I do expect communication
    and fair dealing. I've a banking history in NZ of 25 years. It's
    happened to me maybe 5-6 times that I accidentally overdrew my account,
    and it's usually only a few dollars, I think 1500 was the highest ever.

    I expect to be treated with courtesy and respect. My current bank gives
    me a call when it happens, and if I tell them I'll have it covered in a
    couple of days they say 'thank you', and charge me a service commitment
    fee and penalty interest and that's that. And I am pissed off with
    myself, and not with my bank.

    > It sounds like your experiences are rather atypical.


    That may well be. I have generally heart two kinds of recounts of
    dealings with TSB, most people seem really happy, and some feel really
    scammed. So it goes. I don't usually get cranky with people in a hurry,
    it takes a while to get my dander up.

    > In the short time
    > that I have been with TSB they have put up my interest rate 4 times.


    Lucky you. No, no sarcasm intended.

    > To be honest I see it quite fair that interest is only paid on the
    > minimum monthly balance. If you have a decent amount of money in your
    > acount for a few months then you deserve some decent interest on that.
    > But if you have large amounts of money coming a going then the bank
    > cannot use that money for anything as you are likely to withdraw it at
    > any time. But feel free to let us know what account is available that
    > will pay more in interest.


    No, I am not with you at all here. I have an electronic 'fastsaver'
    account with the ASB now, and anything I don't need for immediate
    cashflow is in there. I get paid over 6%, calculated daily. The money is
    available at all times, no withdrawl limitations (via fastnet). I
    repeat, daily interest. Big difference for me. I can transfer whatever I
    need to the cheque account when I need it. They might as well pay me
    that interest on my cheque account, but what the heck.

    > TSB is not perfect and it is easy to think of several fair critisisms,
    > but your complaints really don't sound very reasonable. According to
    > Consumer Magazine's survey most customers (like me) find that TSB lives
    > up to its promises quite well.


    Obviously ymmv. Some of it, I am sure, is simply how you get on with the
    person you're dealing with. Each bank branch office has a 'culture'.
    Everybody I know who deals with Wetpac in Kaikohe is thrilled by how
    great they are :) Everybody I know who deals with NB in Kaikohe says
    they're great - then my new neighbour went in there to transfer his
    account from a different branch down the line and found them so bad to
    deal with he changed banks ...
    My experiences with TSB were very positive to start with, and
    deteriorated geometrically over the 3 years or so that I did my banking
    with TSB. You're welcome to them, if you like them so much - I just
    don't any more. :)

    -P.


    --
    =========================================
    firstname dot lastname at gmail fullstop com
     
    Peter Huebner, Nov 10, 2005
    #13
  14. Sharktyymbfj

    Sharktyymbfj Guest

    "Not Dave" <> wrote in message
    news:p...
    > On Wed, 9 Nov 2005 15:19:24 +1300, "Sharktyymbfj"
    > <> growled these words from under a rock:
    >
    >>Here's their letter:
    >>
    >>Thank you for your email regarding Netcode.
    >>
    >>All payments made to self-selected bill payees (people or organisations
    >>you
    >>wish to pay) who you have set up yourself in FastNet Classic will require
    >>a
    >>Netcode where the payments combine to exceed your Netcode daily limit.
    >>
    >>The maximum limit is now $800. If the payment was self-selected before
    >>Netcode launched on 14 December 2004, or is made to a payee authority set
    >>up
    >>via our Contact Centre or through a branch, you will not require a Netcode
    >>because an ASB representative will already have authenticated you as the
    >>account owner.
    >>
    >>I would suggest you have the regular payments you make set up as bill
    >>payment authorities. As this needs to be loaded by an ASB staff member you
    >>will not require Netcode each time you make a payment. If you would like a
    >>bill payment loaded for you please phone our Contact Centre on the number
    >>provided below.
    >>
    >>Protection from online fraud is a shared responsibility between ASB and
    >>our
    >>customers, and requires constant development as both the number of
    >>customers
    >>using Fastnet and the number of transactions conducted daily grows
    >>significantly.
    >>
    >>Thank you again for your comments, I have passed this feedback onto our
    >>Marketing department.
    >>
    >>We are also reminding our customers if you are looking at purchasing a new
    >>home or topping up your existing mortgage, we have lending specialists you
    >>can talk to over the phone. To speak with a Lending Specialist please
    >>reply
    >>to this email with your contact details and a convenient time for them to
    >>call. (ASB Bank Limited home loan criteria and a fee of up to $500 apply.
    >>A
    >>low equity fee may apply. )
    >>
    >>In addition to this, if there is anything else we can help you with,
    >>please
    >>contact us anytime on the email address or telephone number below.
    >>
    >>
    >>
    >>Here's my reply, 4/11/05:
    >>
    >>This email is not only absolute drivel but it also smacks of a form email!
    >>
    >>In business, I sometimes need to pay a one off commission fee or
    >>consultancy
    >>fee of $1000 - $5000 as I do database design and these people may never be
    >>paid by me again.
    >>
    >>What you seem to forget is that this is my money and I should be able to
    >>do
    >>what I like with it.
    >>
    >>You are saying I can't be trusted to make a one-off payment of over $800
    >>and
    >>to add to the cheek of it, you want to charge me extra for it.
    >>
    >>The upshot is that you don't trust me to safeguard my details and yet you
    >>fall over yourselves to give me a Visa card with an $8000 limit without me
    >>asking for it.
    >>
    >>I have today contacted TSB and they are sending me a package.
    >>
    >>All being equal, I will be leaving this bank that I've been with for
    >>sometime now and regretfully because generally the service has been good
    >>but
    >>I will not tolerate this draconian measure.
    >>
    >>So far there hasn't been any response but wait there's more:
    >>
    >>Remember this bit:
    >>
    >>"Protection from online fraud is a shared responsibility between ASB and
    >>our
    >>customers, and requires constant development as both the number of
    >>customers
    >>using Fastnet and the number of transactions conducted daily grows
    >>significantly."
    >>
    >>
    >>They sent my Visa card, unsigned, to the wrong address!

    >
    > So you're worried about a 25c fee on a "$1000-$5000" transaction?


    Nope, you missed the point. It's my money and I should be able to do what I
    like with it. I work from home, am very computer literate and don't paste my
    pin number on my forehead!

    I
    > bet that 25c fee wouldn't seem so bad if someone else got your
    > details, and helped themselves to a "$1000-$5000", or more.


    If it's my fault, that's the way it is.

    Despite what they say, they're trying to limit the liability if they screw
    up!

    The banking industry is incompetent and dishonest.

    Why in this day and age are you expected to wait seven days for a cheque to
    clear?

    So they can increase their interest on your money.

    The way it should be organised is that there are no fees,charges etc.

    We get an amount of interest and they loan it out at a higher rate.

    >
    > Look at it this way. Some banks don't even allow you to do one-off
    > payments online. ASB are saying that, yep, you can do it up to $800 no
    > worries. Over $800, either give them a ring, or type in a code they'll
    > send to your cellphone, for a measley 25c fee. Since they charge me $3
    > every time I put $1K in cash in our account, I really don't see the
    > problem with a 25c fee, of which you are actually getting something
    > for.


    Therein lies the rub, Why the **** are they charging us money to deposit it
    in their bank when they make money from the money deposited.They are
    supposed to be a service and they ain't!

    >
    > All banks have a moral and legal responsibility to protect your money.
    > Although their netcode can be a little frustrating, I congratulate
    > them on their initiative.


    So they are placing the onus of protection of the money on you and me! Their
    job is to protect our money. Isn't it why we don't keep it under our
    mattress?
    >
    > And before you think I'm aligned with them in some way, we do have an
    > account with them, but we are in the process of changing because
    > they've really pissed us off. Nothing to do with Netcode, more to do
    > with the fact that they're a shitty bank for business. We're moving to
    > National Bank, because, quite simply, they are NZ's only business bank
    > left.


    I'll check out National too.

    Thanks,


    --
    Sharktyymbfj
     
    Sharktyymbfj, Nov 10, 2005
    #14
  15. Sharktyymbfj

    MarkH Guest

    Peter Huebner <> wrote in
    news::

    > In article <dAscf.243373$>,
    > says...
    >> > The 'high' interest rates dropped, by 40%.

    >>
    >> Are you saying that they dropped their rates at a time when interest
    >> rates were generally not dropping? What did they drop from and to?

    >
    > They dropped from 5% for the top rate to 2% or 3% within a year of my
    > joining them. It's been a few years now, and I think it was down to 3,
    > but it may have been 2.


    Things have changed a lot since then; the top rate is now 7.2%

    >> It sounds like your experiences are rather atypical.

    >
    > That may well be. I have generally heart two kinds of recounts of
    > dealings with TSB, most people seem really happy, and some feel really
    > scammed. So it goes. I don't usually get cranky with people in a
    > hurry, it takes a while to get my dander up.


    According to Consumer Magazine's survey 99% of customers are happy with
    TSB.

    > No, I am not with you at all here. I have an electronic 'fastsaver'
    > account with the ASB now, and anything I don't need for immediate
    > cashflow is in there. I get paid over 6%, calculated daily. The money
    > is available at all times, no withdrawl limitations (via fastnet). I
    > repeat, daily interest. Big difference for me. I can transfer whatever
    > I need to the cheque account when I need it. They might as well pay me
    > that interest on my cheque account, but what the heck.


    That is a pretty decent account. 6% calculated daily + easy access to
    the money is damn good. Are there any gotchas on that? Looking at the
    details on their website it looks like a pretty good account as long as
    you have another account to use for EFT-POS/cheque. I looked at the
    details of every account offered by Westpac and none of them impressed
    me at all. With my TSB account I only get 5% and the balance is
    calculated on the minimum monthly balance and I pay $10 every month that
    the balance falls below $5k, but I have unlimited free EFT-POS
    transactions and a cheque book. I am thinking that the ASB Fastsaver
    account + TSB Premier cheque account could be a pretty nice combo.



    --
    Mark Heyes (New Zealand)
    See my pics at www.gigatech.co.nz (last updated 5-September-05)
    "The person on the other side was a young woman. Very obviously a
    young woman. There was no possible way she could have been mistaken
    for a young man in any language, especially Braille."
    Maskerade
     
    MarkH, Nov 10, 2005
    #15
  16. Sharktyymbfj

    Not Dave Guest

    On Fri, 11 Nov 2005 11:00:08 +1300, "Sharktyymbfj"
    <> growled these words from under a rock:

    >> bet that 25c fee wouldn't seem so bad if someone else got your
    >> details, and helped themselves to a "$1000-$5000", or more.

    >
    >If it's my fault, that's the way it is.
    >
    >Despite what they say, they're trying to limit the liability if they screw
    >up!


    Or if you screw up.

    And I don't mean you specifically. Fact is, plenty of morons use
    internet banking, and not everyone is aware of phishing etc to the
    same level you obviously are.

    And you have the option of just ringing it through rather than doing
    it online.

    >The banking industry is incompetent and dishonest.
    >
    >Why in this day and age are you expected to wait seven days for a cheque to
    >clear?


    These days, it is just tp dissuade people from using cheques. They can
    get a "special answer", where they ring the other bank, if you request
    it. Unfortunately some of the wanky banks charge extra for this
    "service".

    >So they can increase their interest on your money.


    The funds are in your account and earning interest. You just can't
    draw on them.

    >The way it should be organised is that there are no fees,charges etc.
    >
    >We get an amount of interest and they loan it out at a higher rate.


    They do because they can. I think Anderton had the right idea about a
    NZ-owned bank, which could then be sold to NZ interests with a
    surviving clause saying it must maintain 100% NZ ownership at all
    times.

    Unfortunately doing it through NZ Post is just an absolute joke.
    >>
    >> Look at it this way. Some banks don't even allow you to do one-off
    >> payments online. ASB are saying that, yep, you can do it up to $800 no
    >> worries. Over $800, either give them a ring, or type in a code they'll
    >> send to your cellphone, for a measley 25c fee. Since they charge me $3
    >> every time I put $1K in cash in our account, I really don't see the
    >> problem with a 25c fee, of which you are actually getting something
    >> for.

    >
    >Therein lies the rub, Why the **** are they charging us money to deposit it
    >in their bank when they make money from the money deposited.They are
    >supposed to be a service and they ain't!


    I'm completely with you there. I could almost understand it if you
    paid $1000 in $5 notes, but what if you give them 10 $100 notes? They
    charge $3 !! Bastards.
    >>
    >> All banks have a moral and legal responsibility to protect your money.
    >> Although their netcode can be a little frustrating, I congratulate
    >> them on their initiative.

    >
    >So they are placing the onus of protection of the money on you and me! Their
    >job is to protect our money. Isn't it why we don't keep it under our
    >mattress?


    How are they placing the onus on you and me?

    >> And before you think I'm aligned with them in some way, we do have an
    >> account with them, but we are in the process of changing because
    >> they've really pissed us off. Nothing to do with Netcode, more to do
    >> with the fact that they're a shitty bank for business. We're moving to
    >> National Bank, because, quite simply, they are NZ's only business bank
    >> left.

    >
    >I'll check out National too.


    It would be a good move. They are the only bank that treat business
    clients with more than just lip service. they're not the cheapest, but
    you really do get value for money - they have really good insurance
    plans for clients, business consultants, etc.

    Basically, they're the only bank that still understands that for them
    to be successful, their clients need to be successful.
     
    Not Dave, Nov 11, 2005
    #16
  17. Sharktyymbfj

    Sharktyymbfj Guest

    "Not Dave" <> wrote in message
    news:...
    > On Fri, 11 Nov 2005 11:00:08 +1300, "Sharktyymbfj"
    > <> growled these words from under a rock:
    >
    >>> bet that 25c fee wouldn't seem so bad if someone else got your
    >>> details, and helped themselves to a "$1000-$5000", or more.

    >>
    >>If it's my fault, that's the way it is.
    >>
    >>Despite what they say, they're trying to limit the liability if they screw
    >>up!

    >
    > Or if you screw up.
    >
    > And I don't mean you specifically. Fact is, plenty of morons use
    > internet banking, and not everyone is aware of phishing etc to the
    > same level you obviously are.
    >
    > And you have the option of just ringing it through rather than doing
    > it online.


    Which is why they should make it voluntary!
    >
    >>The banking industry is incompetent and dishonest.
    >>
    >>Why in this day and age are you expected to wait seven days for a cheque
    >>to
    >>clear?

    >
    > These days, it is just tp dissuade people from using cheques. They can
    > get a "special answer", where they ring the other bank, if you request
    > it. Unfortunately some of the wanky banks charge extra for this
    > "service".
    >
    >>So they can increase their interest on your money.

    >
    > The funds are in your account and earning interest. You just can't
    > draw on them.
    >
    >>The way it should be organised is that there are no fees,charges etc.
    >>
    >>We get an amount of interest and they loan it out at a higher rate.

    >
    > They do because they can. I think Anderton had the right idea about a
    > NZ-owned bank, which could then be sold to NZ interests with a
    > surviving clause saying it must maintain 100% NZ ownership at all
    > times.
    >
    > Unfortunately doing it through NZ Post is just an absolute joke.
    >>>
    >>> Look at it this way. Some banks don't even allow you to do one-off
    >>> payments online. ASB are saying that, yep, you can do it up to $800 no
    >>> worries. Over $800, either give them a ring, or type in a code they'll
    >>> send to your cellphone, for a measley 25c fee. Since they charge me $3
    >>> every time I put $1K in cash in our account, I really don't see the
    >>> problem with a 25c fee, of which you are actually getting something
    >>> for.

    >>
    >>Therein lies the rub, Why the **** are they charging us money to deposit
    >>it
    >>in their bank when they make money from the money deposited.They are
    >>supposed to be a service and they ain't!

    >
    > I'm completely with you there. I could almost understand it if you
    > paid $1000 in $5 notes, but what if you give them 10 $100 notes? They
    > charge $3 !! Bastards.


    Or you print your own $1000 notes!
    >>>
    >>> All banks have a moral and legal responsibility to protect your money.
    >>> Although their netcode can be a little frustrating, I congratulate
    >>> them on their initiative.

    >>
    >>So they are placing the onus of protection of the money on you and me!
    >>Their
    >>job is to protect our money. Isn't it why we don't keep it under our
    >>mattress?

    >
    > How are they placing the onus on you and me?


    By placing limits on what we can move and how.
    >
    >>> And before you think I'm aligned with them in some way, we do have an
    >>> account with them, but we are in the process of changing because
    >>> they've really pissed us off. Nothing to do with Netcode, more to do
    >>> with the fact that they're a shitty bank for business. We're moving to
    >>> National Bank, because, quite simply, they are NZ's only business bank
    >>> left.

    >>
    >>I'll check out National too.

    >
    > It would be a good move. They are the only bank that treat business
    > clients with more than just lip service. they're not the cheapest, but
    > you really do get value for money - they have really good insurance
    > plans for clients, business consultants, etc.
    >
    > Basically, they're the only bank that still understands that for them
    > to be successful, their clients need to be successful.


    Will do.

    Cheers,

    Grant
     
    Sharktyymbfj, Nov 11, 2005
    #17
  18. Sharktyymbfj

    ~misfit~ Guest

    Not Dave wrote:
    > On Fri, 11 Nov 2005 11:00:08 +1300, "Sharktyymbfj"
    > <> growled these words from under a rock:
    >> Why in this day and age are you expected to wait seven days for a
    >> cheque to clear?

    >
    > These days, it is just tp dissuade people from using cheques. They can
    > get a "special answer", where they ring the other bank, if you request
    > it. Unfortunately some of the wanky banks charge extra for this
    > "service".


    $30 last time I did it.
    --
    ~misfit~
     
    ~misfit~, Nov 12, 2005
    #18
  19. Sharktyymbfj

    Fran Guest

    ~misfit~ wrote:

    > Not Dave wrote:
    >> On Fri, 11 Nov 2005 11:00:08 +1300, "Sharktyymbfj"
    >> <> growled these words from under a rock:
    >>> Why in this day and age are you expected to wait seven days for a
    >>> cheque to clear?

    >>
    >> These days, it is just tp dissuade people from using cheques. They can
    >> get a "special answer", where they ring the other bank, if you request
    >> it. Unfortunately some of the wanky banks charge extra for this
    >> "service".

    >
    > $30 last time I did it.


    $12 at ASB last time I did one.
    They don't ring the bank (at least here the ASB doesn't).
    They get someone to walk down to it.

    Fran
    :):):)
     
    Fran, Nov 12, 2005
    #19
  20. Sharktyymbfj

    ~misfit~ Guest

    Fran wrote:
    > ~misfit~ wrote:
    >
    >> Not Dave wrote:
    >>> On Fri, 11 Nov 2005 11:00:08 +1300, "Sharktyymbfj"
    >>> <> growled these words from under a rock:
    >>>> Why in this day and age are you expected to wait seven days for a
    >>>> cheque to clear?
    >>>
    >>> These days, it is just tp dissuade people from using cheques. They
    >>> can get a "special answer", where they ring the other bank, if you
    >>> request it. Unfortunately some of the wanky banks charge extra for
    >>> this "service".

    >>
    >> $30 last time I did it.

    >
    > $12 at ASB last time I did one.
    > They don't ring the bank (at least here the ASB doesn't).
    > They get someone to walk down to it.
    >
    > Fran
    > :):):)


    Mine was Westpac, a large check deposited into my account and I needed
    access to the funds pronto. $30 for next day availabiltiy. T'was a while ago
    though.
    --
    ~misfit~
     
    ~misfit~, Nov 12, 2005
    #20
    1. Advertising

Want to reply to this thread or ask your own question?

It takes just 2 minutes to sign up (and it's free!). Just click the sign up button to choose a username and then you can ask your own questions on the forum.
Similar Threads
  1. Peter
    Replies:
    17
    Views:
    779
    Grand Inquisitor
    Dec 22, 2003
  2. Stephen P

    ASB - Firefox ... Never heard of it !

    Stephen P, Nov 7, 2005, in forum: NZ Computing
    Replies:
    26
    Views:
    974
    Rob J
    Nov 9, 2005
  3. news.xtra.co.nz

    asb online banking and firefox

    news.xtra.co.nz, Feb 28, 2006, in forum: NZ Computing
    Replies:
    5
    Views:
    2,544
    Barry Lennox
    Mar 3, 2006
  4. SingleSweet

    My ASB online account

    SingleSweet, Dec 18, 2007, in forum: NZ Computing
    Replies:
    11
    Views:
    4,244
    Bruce Sinclair
    Dec 20, 2007
  5. Rats
    Replies:
    26
    Views:
    2,639
    Basil
    Mar 27, 2009
Loading...

Share This Page