The Banking Ombudsman has turned down a complaint after a customer transferred his balance from one credit card to another bank at a low interest rate.  The new bank provided its terms and conditions, both in hard copy and electronically, but the customer did not read them.  The customer complained to the Ombudsman when the bank charged a higher interest rate on new purchases than it had specified for the transferred balance.

The Ombudsman held that the customer should have read the terms and conditions and they were plainly set out and therefore the bank was not liable for the customer’s failure to do so.  It was entitled to charge the higher interest rate on new purchases.

Leading law firms committed to helping clients cost-effectively will have a range of fixed-price Initial Consultations to suit most people’s needs in quickly learning what their options are.  At Rainey Collins we have an experienced team who can answer your questions and put you on the right track.

Alan Knowsley


If you are a New Zealand Super Gold Card Holder (Australian Senior Cards do not qualify) we will give you a 75% discount off our initial 1 hour consultation fee. We will also give you a 17.5% discount off the first matter we handle for you and then 12.5 % off any subsequent matters for you.  These discounts relate to your personal matters only (i.e. not business or organisational matters).