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ANZ blocks penny-auction payments after customer concerns

27 June 2014

ANZ blocks penny-auction payments after customer concerns

ANZ Bank NZ is no longer processing payments to the penny-auction website DealSave, after a number of complaints from customers about the site which runs auctions for items such as cameras and cellphones.

“We’ve received a steady stream of complaints from customers about the website, and we’ve decided enough is enough,” said Fred Ohlsson, Managing Director Retail and Business Banking for ANZ.

“The website encourages customers to enter their credit card details as part of the registration process. Many customers say their credit cards have been charged even though they thought they hadn’t made a bid.

“Customers have approached us asking how they can get their money back. As the go-between in the transaction, there is often little we can do through our chargeback processes.

“Given the high number of complaints, we’ve taken the unusual step of no longer processing payments to DealSave, and will block transactions with further penny-auction sites should there be significant complaints about them too.” Consumer NZ supports ANZ’s move. “Our organisation has received regular complaints about penny-auction websites which we regard as unsafe trading environments,” CEO Sue Chetwin said.

Shop online safely:
• If you follow a few simple rules, shopping on the Internet should be as safe as buying at a store. It is important to remember that no Internet transactions can be guaranteed to be secure.
• Look for reputable Internet merchants or stores. If you're not sure about a site ask them for information about their company, products and services and about their returns and refund policy. Google the site name to see what others say.
• Always pay special attention to the terms and conditions of a site you are entering your card details into or “saving for use later”. Be aware of what you are potentially authorising the website to do.
• Always read your credit card statements carefully and check for any suspicious transactions.

For more information on using your credit card safely, visit: www.anz.co.nz/personal/credit-cards/manage/protect

ENDS

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