The holidays are meant to be a break — not a financial headache. With more spending, travel bookings, and online shopping happening at once, it’s also peak season for scams and money mishaps. The Banking Ombudsman is reminding New Zealanders to take a few simple steps to protect their money and know where to turn if something goes wrong.
Be extra alert for scams
Scammers know people are busy, distracted, and more likely to act quickly at this time of year. That’s why fake calls, emails, and text messages spike during the holidays.
If anyone asks for your PIN, password, or one-time security codes, stop immediately. Banks and legitimate organisations will never ask for these details. Don’t trust phone numbers or links sent to you — look up the organisation yourself and contact them directly through their official website or secure app.
In one real case, a customer was tricked by someone pretending to be from her bank. She shared security codes and lost $30,000 before the fraud was picked up. That’s a brutal reminder that taking a moment to pause can save you a lot of pain.
As Banking Ombudsman Nicola Sladden puts it: scammers love the festive rush. Don’t let them wreck your holiday — stop and check before you click, share, or pay.
Know when you can ask for a chargeback
If you pay for something with a debit or credit card and it never arrives — or it’s not what you were promised — you may be able to request a chargeback through your bank. A chargeback reverses the transaction when goods or services aren’t delivered as agreed.
Timing matters. Chargebacks have strict time limits, so act quickly. Keep copies of receipts, booking confirmations, and any messages showing you tried to resolve the issue with the seller.
One customer booked a hotel room advertised with free cancellation. After booking, the details changed to two rooms priced in US dollars, and she was charged nearly $500. The merchant stopped responding, and the bank initially declined a chargeback. After the Banking Ombudsman stepped in, the bank reimbursed the full amount and added compensation for the hassle.
The takeaway is simple: if an online purchase or booking goes sideways, don’t just write it off. A chargeback might fix it — but only if you move fast and keep records.
Banks are still open for support
If you notice an unauthorised transaction, can’t make a payment, or are struggling with repayments, contact your bank straight away. Don’t wait until January.
Most banks have support available over the holiday period, and early action can prevent problems from getting worse. Whether it’s fraud, payment issues, or financial stress, help is available — even during the festive shutdown.
The bottom line: stay alert, trust your instincts, and act quickly when something doesn’t feel right. A little caution now can save you a lot of stress later.
Source: https://www.scoop.co.nz/stories/BU2512/S00243/holiday-money-tips-from-the-banking-ombudsman.htm
