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Thread ID: 63393 2005-11-08 05:12:00 Banking and SPyware Stupidity pctek (84) PC World Chat
Post ID Timestamp Content User
402663 2005-11-08 05:12:00 Sacked ASB now too.

In September I attempted to pay one of my suppliers by Eftpos at their premises and was unable to as apparently I had exceed my daily eftpos limit.

I had to pay them via Internet banking. That was fine. The amount came to as I remember just under $2500.
Netcode (ASBs stupid transaction limit) was $2500 for online payments.

Then in October I tried to pay one of my husbands suppliers via Internet banking. It was rejected by Netcode. The limit had now been decreased to $1500. I was forced to contact the Netcode call centre and ask for the transaction to be released. I was charged 25c for this.

Then last weekend I again tried to pay his supplier. The limit was now $800 and of course Netcode rejected it. Again call the Netcode call centre etc etc.

Then I attempted to pay one of mine from my account, on the same day, also online. Rejected even though this one was under the $800. Why? The $800 is on all our accounts and is added up - so one transaction of $800 and thats its - you're stuffed.

Today I complained to the bank about it. I pointed out that as an IT professional I am perfectly capable of managing my own security on my PC and do not need their keylogger safety service.

Tough luck. I have to have it.

I point out that as we both have small businesses these sort of transactions are a regular thing. Perhaps we could have our limit adjusted.

Nope. They only have one other option - business online banking, for which you are charged tons of fees.

I point out that the bank is suposed to be providing services to the customer, not dictating what they can and can't do, nor should I have to in effect get permission to move money from my account.

I was told to investigate other banks that may suit me better, in not so many words. At which point I totally lost it and among other things withdrew all our money and put it into some PSIS accounts. 		pctek (84)
402664 2005-11-08 05:28:00 Why not sign up for the SMS option which allows you to complete transactions once you have gone past the netcode limit?

Other options here (www.asbbank.co.nz)

[quote]
When will I need a Netcode?
You will only need one Netcode for each FastNet Classic session, even if you are making multiple transactions where the payment amounts are over your Netcode daily limit, though you cannot exceed your total FastNet Classic daily transaction limit of $20,000. Refer to the Frequently Asked Questions page for details on which transaction types are excluded from daily limits. 		Jen (38)
402665 2005-11-08 08:09:00 Why not sign up for the SMS option which allows you to complete transactions once you have gone past the netcode limit?

Other options here (www.asbbank.co.nz)

[quote]
When will I need a Netcode?
You will only need one Netcode for each FastNet Classic session, even if you are making multiple transactions where the payment amounts are over your Netcode daily limit, though you cannot exceed your total FastNet Classic daily transaction limit of $20,000. Refer to the Frequently Asked Questions page for details on which transaction types are excluded from daily limits.
Don't have a cellphone. Don't want a cellphone. Don't want Netcode at all. Why should I have to?

And as for the above misleading statement - view this:

imagef1.dannz.net.nz 		pctek (84)
402666 2005-11-08 08:25:00 Today I complained to the bank about it. I pointed out that as an IT professional I am perfectly capable of managing my own security on my PC and do not need their keylogger safety service. I'm an excellent driver, I still wear a seatbelt.

Not all our customers are dumb enough to blindly click attachments, we still scan everybody's mailboxes.

Most people think that stepping in boiling mud is a silly idea, but they still put warning signs all around Rotorua.

These things are designed for the masses, live with it. It's not practical to have all the different permutations for people who want to buck the norm.

Just like the customers that e-mail us asking for a 43.7 hour monthly plan because thats what they use, it just ain't practical. 		ninja (1671)
402667 2005-11-08 09:13:00 Screw em, They have to accomidate their customers to a certain extent.

I would spew venom at em and move elsewhere as soon as. 		Metla (12)
402668 2005-11-08 09:32:00 If you are thinking of moving to Kiwibank and have a business overdraft, then 2 words : don't bother. They require a personal guarantee before providing an overdraft for a limited liability company - it completely defeats the purpose of trading using a limited liability company. On another note, where do these banks get of charging automated transaction fees on internet transactions? I do the all of the work for them and they still charge me.....huh? andrew93 (249)
402669 2005-11-08 13:42:00 pctek:

As a long-term PSIS user - who has recommended it in previous PF1 threads - I'm glad you've joined our own NZ co-operative.
I love the fact that I now don't pay transaction fees on my money-shuffling.

( I already resented the trading banks' automated charges for withdrawals & bill-paying when I'd done their work. But my last straw was when the BNZ charged me $1.25 for depositing $200 cash because - without thinking - I handed it over to a real person at the counter)

My only reservation about PSIS is their maximum of 18 pre-set bill payees for Internet/Telephone- and they'll charge to set those up at the counter. But I've managed to do mine online with few problems.
As for security, the website offers common sense advice & there is an electronic transfer limit. But I think it's flexible if you wish.

Unless I was stuck with a particular trading bank through a mortgage or investment, I can't by now think of any reason to stay with one.
I'll be interested to hear what you think.

(In case this sounds like spam, I'd better declare my interest. I think joining gave me a nominal share - maybe worth $1?) 		Laura (43)
402670 2005-11-08 19:26:00 pctek:

As a long-term PSIS user
I love the fact that I now don't pay transaction fees on my money-shuffling.


My only reservation about PSIS is their maximum of 18 pre-set bill payees for Internet/Telephone- and they'll charge to set those up at the counter. But I've managed to do mine online with few problems.
As for security, the website offers common sense advice & there is an electronic transfer limit.
I don't have 18 bill payees. Mostly I do through one-offs anyway. And the rest I set up myself. Yep, their security is the small print - suits me fine.

I resent ASB imposing their limits on me and basically saying either I have to use this Netcode thing via a cellphone or have an expensive business Internet banking.

And they have had a number of complaints about it - those of you who are not a business probably don't have a problem with it, but I wonder how many small businesses this causes problems to. Even a small business like mine, it doesn't take a lot to hit the $800 limit and its not $800 per transaction its the total.

PSIS has a limit of $10,000 per day. And no secret codes required. 		pctek (84)
402671 2005-11-08 20:43:00 HI all

Well being a Taranaki-ite I bank with TSB Bank. No fees (so you will often find Taranakians purchasing something for $1 from the local dairy using eftpos!).

Whether it will do everything you want it to remains to be seen I suppose but wouldn't hurt to check out their site.

http://www.tsbbank.co.nz/ 		Tukapa (62)
402672 2005-11-09 08:11:00 pctek:

As a long-term PSIS user - who has recommended it in previous PF1 threads - I'm glad you've joined our own NZ co-operative.
I love the fact that I now don't pay transaction fees on my money-shuffling.

( I already resented the trading banks' automated charges for withdrawals & bill-paying when I'd done their work. But my last straw was when the BNZ charged me $1.25 for depositing $200 cash because - without thinking - I handed it over to a real person at the counter)

My only reservation about PSIS is their maximum of 18 pre-set bill payees for Internet/Telephone- and they'll charge to set those up at the counter. But I've managed to do mine online with few problems.
As for security, the website offers common sense advice & there is an electronic transfer limit. But I think it's flexible if you wish.

Unless I was stuck with a particular trading bank through a mortgage or investment, I can't by now think of any reason to stay with one.
I'll be interested to hear what you think.

(In case this sounds like spam, I'd better declare my interest. I think joining gave me a nominal share - maybe worth $1?)

PSIS is great, except that it is not a bank. If it falls over, then you are not guaranteed your money. 		pine-o-cleen (2955)
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