Not impressed with BankWest

[opusman]

What you describe is normal for all banks.

As I said in my original post, no this isn't. For example, when this has happened with ANZ in the past, the disputed transactions simply disappeared from my statement immediately. Gone, poof. Vanished.

Presumably *if* the investigation had shown that they weren't fraudulent they would have come back again. But I never saw them again, and there was never any instruction from ANZ that I had to pay for them up front, which is effectively what Bankwest said to do.

 

[pauly7]

Citibank certainly isn’t reversing fraudulent transactions immediately.

They sure do for me thankfully. I do have a slightly different arrangement with them though if you are experiencing different.

 

[Amerrican]

Presumably *if* the investigation had shown that they weren't fraudulent they would have come back again. But I never saw them again, and there was never any instruction from ANZ that I had to pay for them up front, which is effectively what Bankwest said to do.

After year banking in Queensland, I've recently moved to the USA. I had an American credit card hacked after a business trip to Thailand. Called the US bank, they removed the charges immediately, replaced the card via overnight delivery service, and sent me an apology letter! US banking law doesn't allow the kind of abuse we cop routinely from Aussie banks.

 

[PeteMac007]

So it's a fact of life if you use credit cards online sooner or later your card number will get stolen and used fraudulently. I've had it happen a few times including just recently with Bankwest.

In all the other cases I can remember, once I disputed a charge as unauthorised it was removed from the statement until the bank's investigation was complete.

Turns out Bankwest's "policy" is that the charges stay on your statement for up to 8 weeks while they investigate. They advise continuing to pay your bill as normal - and if that means paying off the full amount, including the fraudulent charges.

Since this was about $4000 worth of fraudulent charges they can go jump! Of course if you don't pay off the full amount they'll charge interest - now they say they'll refund it, but what if that means interest also gets charged on other purchases too. Will they refund it all?

(Plus the fact they didn't even catch $4K of fraudulent internet charges themselves is also a worry. Not much of a fraud team!)

Seems outrageous to me, actually considering closing the account over it.

I would put this under unconscionable conduct.. worthy of putting it in to the commision

https://royalcommissionwebform.lawinorder.com.au/#/

I'm sure Bankwest would LOVE a blowtorch put on them by the Royal Commission!

 

[Rodfly]

I would put this under unconscionable conduct.. worthy of putting it in to the commision

https://royalcommissionwebform.lawinorder.com.au/#/

I'm sure Bankwest would LOVE a blowtorch put on them by the Royal Commission!

 

[Rodfly]

So it's a fact of life if you use credit cards online sooner or later your card number will get stolen and used fraudulently. I've had it happen a few times including just recently with Bankwest.

In all the other cases I can remember, once I disputed a charge as unauthorised it was removed from the statement until the bank's investigation was complete.

Turns out Bankwest's "policy" is that the charges stay on your statement for up to 8 weeks while they investigate. They advise continuing to pay your bill as normal - and if that means paying off the full amount, including the fraudulent charges.

Since this was about $4000 worth of fraudulent charges they can go jump! Of course if you don't pay off the full amount they'll charge interest - now they say they'll refund it, but what if that means interest also gets charged on other purchases too. Will they refund it all?

(Plus the fact they didn't even catch $4K of fraudulent internet charges themselves is also a worry. Not much of a fraud team!)

Seems outrageous to me, actually considering closing the account over it.

,
While ANZ cards might not have some of the bells & whistles of other cards, their Falcon security function is great. While traveling in the UK in 2013 we had several fraudulent transactions appear on our card, but as we'd taken the precaution of advising ANZ of our travel plans, including an accurate itinerary, they were able to pick the fraudulent debits within hours and immediately called us on our mobile phones. They asked if we'd made any purchases over $300 value and we provided details. These debits occurred via skimming on the crowded streets of London.
We promptly acquired metal credit card shields which prevented any further such attempts.
Since that trip, we've had 2 further instances of card fraud, both involving transaction cloning in which an identical debit sum appears after you've made a sizable purchase, in this case $1,498.00. This is done in the hope you'll not notice it as a second amount.
A friend who has cards with another major bank recently had a similar instance where she didn't notice it for more than a month. She'd purchased a Bali tour package for $3,575.00 and didn't notice 2 more debits of similar amounts until she returned from the 6-week holiday.
Checking back over the previous 12 months she found a further 4 instances of debit cloning but it was too late to do anything about it.
It pays to scrutinise your card statement as soon as you get it and verify every debit entry.
Cheers

 

[andrewpf]

Since people are trumpeting ANZ I thought I should say - its not all great.

I received a text message saying something to the effect 'A transaction has been declined because you have reached your credit limit'. I immediately went to check what the hell was happening, since I knew I have over 10k in credit left and hadn't just used my card. Two fraudulent transactions from the same store (a car wash!) - neither detected by the supposed great ANZ fraud system - totalling over 8K. Must have been a hell of a wash. They obviously tried to make a third transaction which pushed the card over my limit and was declined, otherwise I would have been none the wiser for days.

Called ANZ immediately, they cancelled the card. Operator said something like 'we've seen a few today from this place'. So much for proactive fraud detection. Anyway, my card only has $700 credit available now until I make a payment. Fraudulent transactions are being investigated, can take weeks, and are still sitting on my statement and against my credit limit. Have started moving all my transactions to other cards.

My only other fraud experience was on my Amex card. They immediately reversed the transactions after discussion over the phone.

 

[cove]

I am expecting the Royal Commission to cover Bankwest fairly soon.
We have not had a problem with the three Bankwest credit cards in our family.
Citibank handled a fraud for us smoothly a few years back so I don’t have any criticism for them either.

 

[get me outta here]

Just checked my rarely used 28D. Fraudulent transaction for <$200. Card cancelled, enquiry underway. New card will not arrive before departure, so was advised to ask for an emergency card replacement once in the US.

 

[cove]

Mrscove uses my 28D card to pay our cleaning service in London. I had better start looking more closely at that one.

 

[theblank]

As I said in my original post, no this isn't. For example, when this has happened with ANZ in the past, the disputed transactions simply disappeared from my statement immediately. Gone, poof. Vanished.

That doesnt negate anything I said, and I stand by it. You cant ignore the fact Bankwest has to comply with the law/regulation how they are dealing with this.

Your experience with ANZ just means they finalised their investigation before you got the statement. When it happened to me with NAB they did the same thing, they wiped all the transactions virtually while i was on the phone. I asked why they are not checking with me what transactions are valid, and he said "no need, i can tell". He did tell me that the transactions were done with a forged credit card

For whatever reason Bankwest is going through their process. You may not have spoken to a decision maker, or its not immediately evident the transactions are unauthorised. You have nothing to worry about until you get your next statement, at least.

 

[opusman]

Your experience with ANZ just means they finalised their investigation before you got the statement

Not really. We have this thing called "the internet" these days, you should try it. It lets you "log in" to your "bank" and see your statement in "real time".

 

[TheRealTMA]

That doesnt negate anything I said, and I stand by it. You cant ignore the fact Bankwest has to comply with the law/regulation how they are dealing with this.

Your experience with ANZ just means they finalised their investigation before you got the statement. When it happened to me with NAB they did the same thing, they wiped all the transactions virtually while i was on the phone. I asked why they are not checking with me what transactions are valid, and he said "no need, i can tell". He did tell me that the transactions were done with a forged credit card

For whatever reason Bankwest is going through their process. You may not have spoken to a decision maker, or its not immediately evident the transactions are unauthorised. You have nothing to worry about until you get your next statement, at least.

That’s as it maybe but for discussion, let’s say the fraud is $5000, the bank wants you to pay that amount upfront then the say they will reimburse you “if” they determine a fraud. Garbage. You are not libel under Australian law. Will they reimburse you the interest on $5000 for the 6-8 weeks that have your money? No.

In case of fraud, one should refuse their “suggestion” and not make any payment for the fraudulent amount.

 

[cove]

I think that word was meant to be “liable” rather than “libel” TRTMA.
English words can be tricky!

 

[TheRealTMA]

I think that word was meant to be “liable” rather than “libel” TRTMA.
English words can be tricky!

Especially with autocorrect.

 

[cove]

My IPad latest software can do that to me too.
I waited a few minutes to bank a farmers agistment cheque down at Bankwest yesterday even though I was third in the line. I wish our farmer could get into a modern payment method before the turn of the next century.

 

[LadyC]

Hmmm.... NAB trying to charge me interest and late payment fee on the fraudulent transaction I have disputed.