I was recently charged interest on a credit card cash withdrawal I made (whilst I was in China) which I don’t think I should have been charged interest on. The reason I don’t believe I should pay any interest is because I immediately (a few hours later) deposited back into the VISA account the amount I had withdrawn (plus a little extra for fees etc). However, the way BNZ’s calculations work (as I’ve now been told) mean that my deposit was not used to offset the cash withdrawal as it was on the same day as the withdrawal. If I had deposited the following day I wouldn’t have had to pay any interest, but because I deposited on the same day, I get pinged a high interest at the end of the month. I don’t like this. I feel I have been wronged. And there was no way for me to know that I had an outstanding high interest balance owing.
I don’t like how BNZ choose to not show the current balance of the non-zero-interest-rate amount. Can BNZ please show us the current balance of the outstanding non-zero-interest-rate, please? Clearly BNZ have two balances they are using in their calculations - the amount which has zero interest, and the amount which has interest. Both of these numbers are hidden from the customer. Why are we only shown the total of these two amounts?