Bank satisfaction survey 2022

At 4.46pm on Good Friday I received a concerning text message on my phone.
It informed me that a credit card transaction had been declined due to its "unusual nature". It asked that I call the sender on the number on my card. The message was credible because it included the last four digits of my credit card number.

Who knew there was a phone number on your card? There are actually two, the other one to be used if calling from overseas.

I phoned the number and began a series of menu choices that parsed me to the option dealing with suspected fraud on my card. Then having digitally responded to requests for my date of birth and accepted and re-entered a verification code, I waited - listening to noise some might describe as music. Periodically the distressing sounds coming from my phone were interrupted by messages. I listened to one from John Kerwin on mental health and another from Judy Bailey encouraging me to use online banking. After what seemed like hours (but probably was ten to fifteen minutes) as well as many other adverts for Westpac products I hung up and tried again. This was noticeably unhelpful as I got to replicate exactly the same experience I had just had, note for note, message for message.

You may imagine that my mind was actively trying to process the information I had received - little of which made sense to me. I had not used my card in days and it had never been out of my possession. Whoever had sent this text message to me knew more about me than I did them and there was the strong suggestion that I was in some form of financial danger.

By now I had made my way home and was able to read on my computer that I had received an "Urgent" email from the Financial Crime Prevention Team at Westpac. This served to heighten my concern. This email had been sent one minute after I had received their text message and provided just a little more information. For example I now knew who was trying to contact me and...

"We value working flexibly at Westpac. As a result you may receive this email outside of business hours".

Uncertain as to how I might interpret this information I decided to try another number advertised on the Westpac website.

This again was similar to the previous iterations, however, after listening to John and Judy and the same distressing noise loop, my call was answered by a person who told me her name was Jill.

At this point about an hour had transpired since starting this journey and I was working from the understanding that messages from my bank with the heading "Fraud Urgent" were meant to convey that time was an important factor in play.

The automated (recorded) part of this exchange had informed me that Jill and my conversation would be recorded for training purposes. I am pleased about that because I hope someone will go back and listen to the conversation - I am sure lessons may be learned.

Jill insisted on sending me yet another verification code. I explained that it would be easier for me to simply answer any (and all) security questions to prove my bona fides. But Jill would have none of that, she insisted on sending me the code and did so. She then asked me the security questions when it failed to show up on my phone's screen - she was satisfied with my answers to the security questions.

I explained that I had been trying for an hour to speak to her - to which she replied that she was sorry about that but couldn't understand why, as she hadn't been very busy all day!

We began to address the reason for my call. Jill asked me if I had used my credit card and named a business. I didn't recognise the name and in any case I had not used my card other than at the supermarket for weeks. I told her this and asked where the business was and how much the amounts were for. Jill replied that she couldn't tell me where the business was located but the purchase was for the amount of a dollar fifty; the other transaction was for a similar amount. I could see why this attempt to charge my card for a buck fifty might look "unusual". Even before inflation I can not remember buying anything for 150 cents let alone using my credit card for such a transaction.

I was processing this information as Jill continued to inform me that my card had been compromised and she had put a block on all transactions. I could not use the card again.

"You should cut up your card. We will send you a new card, you may get it at the end of next week or sometime the following week. The new card will have a completely new number. You will need to tell everyone who presently charges your credit card what your new card number is ".

"Why would anyone try to defraud me of such small amounts" I asked ?

"Had it been successful they would have charged larger amounts against the card - we stopped it from happening"

There was something that didn't make sense about that answer but my mind was still fixed on the hour experience getting to hear it. I tried complaining about this a second time.

"I am sorry, I have already said I am sorry once"

There was something final about this from Jill and we concluded our conversation which had been civil and polite for its entirety.

So here I am, one day into a long Easter weekend, with no access to money and far more questions than answers around how this happened. I have no ideas as to where this fraudulent attempt took place or who might be implicated. Nor do I feel particularly reassured that this will not happen again in the future. The impression I have from dealing with Westpac is that I should be grateful and that they consider their services more than adequate.

It is true that I have been spared the loss of some three dollars - although I understand their systems are supposed to underwrite such loss - but I feel like a victim. It is something like the pain of a mosquito bite in the cashless society.

Upsides: competitive; fair rate credit card for those that don't pay the card off each month; owned by its members so profits are shared with people who bank with it - not unknown shareholders -no other bank does this that I am aware of; easy to navigate webpage; good phone app.; quick, helpful phone service generally, which is provided by a person actually at work in one of the branches. Downside: leads the way in the absence of a branch network although I note the big Aussies are catching up with this race to the bottom.

A note about ANZ with which I have a credit card. Bonus points for trapping a fraudster working my card on line and they caught the fraud on the day the it started.

I find Heartland very good for deposit rates and communication. They frequently follow up an email with a phone call and reply promptly to messages.

I have been with BNZ for 50 plus years. I used to have a Pesonal Banker and the tellers and the bank manager were very knowledgeable. On a personal level I used to have shares in Australia and the dividends would go through my bank account. I also run a Trust account. I make an appointment to see the bank explain what needs to be done and the person I deal with has to "get back to me". So I wrote a negative comment on my internet secure mail. They blocked my internet without telling me and said it was due to "unusual activity" and wouldn't unblock it until I did the requesite paperwork which I had gone to the bank for in the first place. Now keep the bare minumum there to pay direct credit bills etc. I wont start on how hard it is to talk to an actual person on the phone - especially if have an accent or partially deaf.

I deal with most of the banks through my work and my common complaints of all of them:
- longer waiting times, assuming lower staffing at call centres;
- harder to access branches when you need one (fewer branches, shorter opening hours, longer distances to reach them);
- excessive profits (re the non-NZ owned banks).

Like Tanya I bank with SBS and have found then always efficient and helpful. Is there a reason they are not included in your survey?

P James
Dunedin

WestPac is excellent at keeping an eye on funny transactions from your account. Whenever you get a large or unusual transaction, they check it with you. A couple of times they've actually stopped dodgy looking transactions ( to Romania, etc.) before checking with me.
Otherwise, I agree they aren't particularly customer centered.

Hi Folks. A very useful and insightful survey as usual - thank you very much. I bank with SBS. Was SBS included in your survey?

Kind regards,

Tanya
Dunedin