New Zealand
UK bank accuses Westpac of ‘critical errors’ after customer sent $158k to wrong account
Westpac denies liability, blaming the customer for keying the wrong account details.
Latest from Banking
Stories and analysis from The Northern Express Herald.
BNZ preserves margins on flat half-year
BusinessDesk: BNZ outranks its Australian cousins for customer preference.
'Significant risk': Tariffs heighten volatility, Reserve Bank warns
Banks have strong capital to maintain credit flows amid market volatility.
Westpac CEO intervenes after pensioner loses $158k in bank transfer error
The money went to an Auckland woman who allegedly spent it on cars and transfers.
Nearly 500k people behind on loan payments, mortgage arrears hit eight-year high
The OCR has fallen 200 basis points since August, but home owners are still struggling.
AI could make crashes worse, amplify herd behaviour: Reserve Bank
One expert says the report doesn't go far enough, another says it overplays the risks.
Sasha Borissenko: Banking on blame - scam reforms too little, too late
OPINION: NZ's scam prevention lags behind global standards - here's why.
Diana Clement: Simple steps to cut banking costs and save big
OPINION: Banks earn billions while Kiwis pay avoidable fees and interest.
Pensioner who lost $158k gets bank refund after woman's 'spending spree'
Andrew Che Sit Bong, 78, lost his savings due to a single-digit mistake.
Adrian Orr surfaces for farewell party with Reserve Bank staff
The party and gift combined cost more than $6000.
'We are here to help': ASB offers relief measures for weather-hit customers
Bank says it will pause home loan repayments for up to three months.
Is there method to Govt's madness, helping ANZ and ASB in court?
Lawyer supports law change to avoid "draconian consequences" for lenders.
Westpac apologises after online banking goes down, leaving customers frustrated
Some say the glitch has meant they can't pay their bills or transfer money for petrol.
Reserve Bank may need to make deeper OCR cuts - ASB
An ASB economist says the RBNZ may have to cut its benchmark cash rate even further.
Woman who received $158k in bank transfer error could face charge, jail time: expert
The money was allegedly used for cars and sent to a boyfriend and a relative.
The offspring: How heirs to Kiwi family fortunes earn their keep
Meet the heirs of New Zealand's wealthiest families.
Seymour sides with banks after 'disappointing' advice from Regulation Ministry
The ministry said banking rules were not out of line – Seymour and the banks disagreed.
Small Business: How Otto is gamifying savings to encourage financial habits
Tomas van Ammers talks to Tom Raynel about his saving start-up, Otto.
'Outside their appetite': Kiwi sex toy company's battle to find an insurer
Girls Get Off rebuffed by 23 insurers over the nature of its business.
Woman’s 'spree' after $158k banking error, refuses to return pensioner’s life savings
Andrew Che lost his retirement savings due to a one-digit bank transfer error.
'Fuel for the engine': Kiwibank CEO on $500m capital injection
And where will the funding come from?
On The Up: Atomic set to blast into Australia, UK, fuelled by Rod Drury
Start-up has already signed up big names in NZ - and is now looking to the UK.
Markets with Madison: Kiwibank’s future
The state-owned bank is raising $500m in a bid to beat big Australian-owned banks. Is a capital injection enough to make it competitive?
Better compensation for scam victims from banks
Banks are putting in better compensation for scam victims.
Banks to reimburse fraud victims up to $500,000 under new rules
New tech will identify risky transactions and freeze suspect accounts.
'Political interference': Concerns over RBNZ's capital rules review
Conflict zone: NZ's independent central bank and the Finance Minister's agenda.
'Overstaffed': Two Reserve Bank assistant governors quit amid restructure
Departures following Adrian Orr's shock resignation as governor.
ASB Securities impersonated, scammers suspected of exploiting volatile economy
The fake share traders invite people to connect over WhatsApp, bank says.
BNZ fixed loan rate falls to 4.95% as major banks trim mortgage rates
Special rates are being offered under 5% after the OCR dropped 25 basis points.
Former high-flying property developer ditches private jets as market turns down
Matthew Horncastle of Williams Corporation says he is now 'pretty boring'.