Your bank statement for sale

[davereid]

Amendments 4 and 5 to the credit reporting code are now approved by the Privacy Commissioner.

This allows your phone provider, credit card company, electricity retailer, (anyone you do or may owe money to) and your bank to send your personal details, Name, address, DOB, Driver Licence number (If you have been so stupid as to provide it) to Veda and other credit rating agencies for sharing with their customers.

It also allows them to send Veda a virtual "snapshot" of your bank statement, which they can also sell information on.

For example, if you buy on credit card, have a $400 power bill and and a $200 dollar internet bill, this information is sent to Veda, as will be your payment history. Veda can then sell that to its customers.

BNZ just advertised their intenion to start selling your bank statement in the paper today.

If you are a BNZ customer, and you want your banking to remain confidential between you and the bank, why not give them a call or drop them a line. 0800 275 269

[Akzle]

never mind that.

you read the open banking resolution?


... adn you thought banks were there to help you.

[davereid]

ASB have announced they will be selling your bank statement as well.

Interestingly this actually is bad business for them. Under the old regime, they only released data on their bad customers.

With this system, they are actually selling the details of their good ones as well.

Muddled thinking in head office IMHO....

[DangerMice]

Any link to the ASB one?

[Madness]

I hope they get more for mine than what my balance is.

[onearmedbandit]

You posted this last night, and have had (excluding mine) 3 replies (including one from yourself) and 148 views.

I posted 90mins ago a video of a guy stabbing a tyre and getting knocked off his feet along with a nasty arm wound, 7 replies and 60 views.

Sums up how the people don't care what happens, as long as they are entertained.

[mashman]

You posted this last night, and have had (excluding mine) 3 replies (including one from yourself) and 148 views.

I posted 90mins ago a video of a guy stabbing a tyre and getting knocked off his feet along with a nasty arm wound, 7 replies and 60 views.

Sums up how the people don't care what happens, as long as they are entertained.

hush your filthy mouth... it's only information, what could possibly be gained from it?

[blue rider]

back to cash transactions .....

[mashman]

back to cash transactions .....

I'd prefer no transactions at all... we could forgo the mess those sorts of transactions leave in their wake.

[Berries]

I'm only reading this thread because of the avatars in posts 5 and 6.

[FJRider]

back to cash transactions .....

It's not how you spend (cash or eftpos) it's where ... and to who.

think about ... Who has the information ... and who wants it ... and why do they want it.

[Coldrider]

As soon as GE FINANCE buy my financial summary they will realise bombarding my mailbox with 24% loans has been a total waste of their marketing resources. Now if a wine distributor cottons on to my favourite tipples at appropriate prices then bring it on.

[blue rider]

It's not how you spend (cash or eftpos) it's where ... and to who.

think about ... Who has the information ... and who wants it ... and why do they want it.

i understand,

however if i start pulling out cash and pay my transactions with cash instead of eftpos......well my statements will be slim, rent, electricity, phone, bike....the rest none of anyone's business.

i can't prevent my information from being stolen and sold, but I can keep the information gleaned to a minimum.

[Ocean1]

i understand

No, you don't.

It doesn't matter that you can hide some of your transactions, it'll come to the point where corporations paying for the info won't deal with you unless they CAN see the transactions they expect you to make.

[blue rider]

No, you don't.

It doesn't matter that you can hide some of your transactions, it'll come to the point where corporations paying for the info won't deal with you unless they CAN see the transactions they expect you to make.

thank you.....but these are the transactions i make.

if someone expects me to buy a pair of heels on my eftpos the be shit out of luck. but they will find chain lube, wof, rego, and other such stuff.

expectations are overrated.
reality bites.

why are you always so grumpy?