I’m renting a place here in Fremantle for 3-4 months, and my first rental payment is due.
I dutifully (ok a few days late as we had not sorted out dates) send a Telegraphic Transfer request via BNZ’s internet banking email system. This is something I do quite a lot, with the last one being the deposit and bond for this place on the 12th of last month.
I get an email back:
I’m in Perth right now, and so to get a NetGuard card would require 3-5 business days (and there are only 4 this week in NZ) PLUS the time taken to get the card to me in Australia. Moreover, I’m guessing that BNZ won’t send or allow you to send this stupid card internationally (try couriering credit cards).
So the alternative to to use the handy ‘branch locator’, which I do:
That’s right. No BNZ in Perth, and no BNZ in Australia. This seems crazy to me – BNZ is a huge bank, and there are hundreds of thousands of Kiwis in Australia, including out here in Perth. (Mining pays well these days)
So maybe I’m just going about it the wrong way. So – another approach:
But that gets me this:
So I try bnz.com instead:
Not that useful.
So… why should I trust my money to a bank that can’t even own its own domains?
Why should I trust my money to a bank that requires me to carry around a card for online security?
What happens if I lose my wallet with credit card and stupid online card? – yup, I’d be locked out.
I looked back, and sure enough on my last TT request there was the following in the confirmation email:
“Lance, I would like to take this opportunity to advise that from 1 October all TTs will require you to have logged into Internet Banking using NetGuard before we will complete your request.”
Sadly it was beneath the fold (line 26) of the confirmation email, which I browsed quickly just to make sure the payment went through. So the first time I saw this was today. Yes – perhaps I should read my emails completely.
Banks have you locked in
They say that banks have 4 opportunities in life to get you to switch to them: At birth/christening, when you are about 10 or so (pocket money), when you leave home/start university (student loans), and when you get a mortgage.
They also say (ok I’ve observed through consulting) that losing banking customers is actually really difficult to do. You really have to go out of your way to annoy them, or lose serious credibility, before customers will leave.
For me BNZ has provided great personal service at the various branches in Wellington, but has failed, and failed consistently with its IT – online and back end.
BNZ has failed with their Credit Card product
- My credit card limit is a trivial % of my annual income, despite repeated requests for (mostly granted) increases.
- My BNZ credit card bounced my Perth motorcycle purchase transaction, while my infrequently used Amex worked just fine
- Indeed it’s not the first time or even second I’ve failed to buy a motorcycle with a BNZ credit card, and succeeded with Amex.
- I received more than one offer to ‘upgrade’ my Mastercard to a visa with identical features and higher cost.
BNZ has lousy Customer Service
- BNZ’s after hours (and it is always after hours from home here) help desk is completely unable to help me, which is sad because I recall being able to speak to a very helpful night banker, who made magic happen, from the UK when buying a motorcycle back in 1996. What has happened?
- The products offered to me (usually in a TT email) are completely irrelevant to my situation.
Don’t talk to me about use BNZ for money Transfers
- I cannot send an international transfer without recourse to email.
- I now cannot send international transfers at all.
- It takes a day for transfers to go from from my BNZ check account to my BNZ credit card account
- It takes a day for transfers to go from my BNZ account to another BNZ account
- It takes a day for transfers to go from my BNZ account to any other NZ based account
- I’m charged $25 for a NZ to Australia TT transfer
NONE of this is acceptable in this era.
But the big question is can any other bank offer better? I’m going to look around, but do let me know if your experiences elsewhere are better.