1 00:00:00,080 --> 00:00:02,280 Speaker 1: Among the ever growing series of financial issues we need 2 00:00:02,320 --> 00:00:05,200 Speaker 1: to worry about. Banks are warning now over subscription traps, 3 00:00:05,680 --> 00:00:08,719 Speaker 1: businesses hooking people into ongoing payments through every day items, 4 00:00:08,760 --> 00:00:11,600 Speaker 1: the shoes and clothes, stuff like that. Anyway, Westpac, so 5 00:00:11,720 --> 00:00:14,760 Speaker 1: it's stopped nearly twenty thousand customers being fleeced in the 6 00:00:14,760 --> 00:00:17,800 Speaker 1: past three months. Doctor Claire Matthew's banking expert of course 7 00:00:17,800 --> 00:00:19,239 Speaker 1: at Massy in his back. Well, this is clear good 8 00:00:19,239 --> 00:00:21,599 Speaker 1: morning to you. What end am I Have you ever 9 00:00:21,600 --> 00:00:23,360 Speaker 1: fallen for a scam? You ever been scammed? 10 00:00:25,800 --> 00:00:28,640 Speaker 2: Not in New Zealand, only on international travel. But there's 11 00:00:28,640 --> 00:00:29,800 Speaker 2: a slightly different situation. 12 00:00:30,000 --> 00:00:33,600 Speaker 1: Okay, fair enough, these were If Westpac, a singular bank, 13 00:00:33,920 --> 00:00:37,120 Speaker 1: can stop twenty thousand customers over a three month period, 14 00:00:37,159 --> 00:00:39,400 Speaker 1: how many people are getting done for you know, must 15 00:00:39,400 --> 00:00:41,280 Speaker 1: be tens of thousands, hundreds of thousands of people. 16 00:00:42,360 --> 00:00:45,200 Speaker 2: Oh, absolutely, it must be huge numbers. It seems unlikely 17 00:00:45,240 --> 00:00:49,840 Speaker 2: that Wes Westpac customers are being singled out, so presumably 18 00:00:49,840 --> 00:00:52,080 Speaker 2: it's tapeding to other banks customers as well. Absolutely, and 19 00:00:52,120 --> 00:00:54,040 Speaker 2: I noticed that as well as the twenty thousand customers 20 00:00:54,040 --> 00:00:56,120 Speaker 2: that they talked about, they've talked about twenty five million 21 00:00:56,160 --> 00:00:58,880 Speaker 2: dollars worth of payments, So that's you know, we are 22 00:00:58,920 --> 00:01:00,000 Speaker 2: talking large sums of money. 23 00:01:00,200 --> 00:01:02,440 Speaker 1: So what is it? Is it payments you know you're 24 00:01:02,480 --> 00:01:04,600 Speaker 1: making but don't know how to stop, or payments you 25 00:01:04,680 --> 00:01:06,959 Speaker 1: don't know how you're making. Is it a trap or 26 00:01:07,000 --> 00:01:08,360 Speaker 1: is it illegal? 27 00:01:09,600 --> 00:01:11,679 Speaker 2: It's a little bit hard to know because it's a 28 00:01:11,680 --> 00:01:13,759 Speaker 2: lot of something I've come across before, but I'm guessing 29 00:01:13,840 --> 00:01:16,399 Speaker 2: it's something like, you buy a pair of shoes and 30 00:01:16,680 --> 00:01:18,959 Speaker 2: in the fine printencies at the same time, when you 31 00:01:18,959 --> 00:01:20,919 Speaker 2: buy a pair of shoes, you also become a member 32 00:01:21,000 --> 00:01:24,600 Speaker 2: of our site, and we're going to charge you a 33 00:01:24,720 --> 00:01:27,520 Speaker 2: it's possibly a small subscription fee, and that will give 34 00:01:27,560 --> 00:01:31,600 Speaker 2: you access to we'll see your emails, or you'll have 35 00:01:31,680 --> 00:01:35,880 Speaker 2: access to our bargains, so that and special prices in 36 00:01:35,920 --> 00:01:37,319 Speaker 2: the future. But you don't actually want to do that. 37 00:01:37,360 --> 00:01:39,319 Speaker 2: You just brought up your shoes or whatever it is 38 00:01:39,319 --> 00:01:41,759 Speaker 2: you've brought. You didn't actually plan to ever buy anything 39 00:01:41,760 --> 00:01:45,120 Speaker 2: else from this business again, but they've sucked you in 40 00:01:45,160 --> 00:01:47,360 Speaker 2: because it's in the terms and conditions, and all of 41 00:01:47,400 --> 00:01:49,440 Speaker 2: a sudden you've got the small payment going out, which 42 00:01:49,480 --> 00:01:52,200 Speaker 2: you may not notice immediately depending on what else you're using. 43 00:01:52,240 --> 00:01:54,800 Speaker 2: Card for But Westek have obviously found a way of 44 00:01:54,880 --> 00:01:56,200 Speaker 2: picking up when this has happened. 45 00:01:56,360 --> 00:01:59,080 Speaker 1: Good isn't there an app for that? I saw something 46 00:01:59,120 --> 00:02:00,960 Speaker 1: the other day. There's an app that tells you all 47 00:02:01,000 --> 00:02:04,560 Speaker 1: the stuff you're paying for that you may not know, 48 00:02:04,840 --> 00:02:07,000 Speaker 1: then goes ding. Do you realize, here's all the you 49 00:02:07,000 --> 00:02:08,239 Speaker 1: know and it'll tell you what you're doing. 50 00:02:09,520 --> 00:02:12,240 Speaker 2: Yeah, But the problem with these ones, from what I 51 00:02:12,280 --> 00:02:15,160 Speaker 2: can understand from what Westak has said, is that it's 52 00:02:15,200 --> 00:02:17,040 Speaker 2: all very well to know that you don't want to 53 00:02:17,040 --> 00:02:18,720 Speaker 2: pay it, but you've actually got to get out of it. 54 00:02:19,240 --> 00:02:21,799 Speaker 2: And what's happening is trying to get hold of the 55 00:02:21,880 --> 00:02:25,840 Speaker 2: companies to say, actually, cancel my subscription. The companies disappear 56 00:02:26,160 --> 00:02:28,880 Speaker 2: or they just say, oh no, it's legitimate, So it 57 00:02:28,919 --> 00:02:31,480 Speaker 2: get's actually really difficult to cancel. So it's easier to 58 00:02:31,520 --> 00:02:32,680 Speaker 2: stop the payment upfront. 59 00:02:32,919 --> 00:02:34,520 Speaker 1: Is it easy to let the bank do this if 60 00:02:34,520 --> 00:02:37,360 Speaker 1: they're in the business of doing this, good on them 61 00:02:37,400 --> 00:02:40,600 Speaker 1: for doing it, fantastic or I mean, I just don't 62 00:02:40,639 --> 00:02:42,280 Speaker 1: know how we fix it if you can't get out 63 00:02:42,280 --> 00:02:43,720 Speaker 1: of it, or you don't know you even paying it 64 00:02:43,760 --> 00:02:45,880 Speaker 1: in the first place. How do we solve this particular problem. 65 00:02:46,520 --> 00:02:48,160 Speaker 2: Well, what are the issues is that we do need 66 00:02:48,200 --> 00:02:50,160 Speaker 2: to read the fine print when when we sign up 67 00:02:50,160 --> 00:02:53,560 Speaker 2: for things, which we're all very bad at doing. Yes, 68 00:02:53,639 --> 00:02:56,120 Speaker 2: you can trust the banks to be dealing with us 69 00:02:56,120 --> 00:02:57,680 Speaker 2: to an extent, but they're not going to pick up 70 00:02:57,720 --> 00:03:01,440 Speaker 2: everything because what the scam is a doing is constantly changing. 71 00:03:01,760 --> 00:03:04,600 Speaker 2: So we do need to be observant and looking at 72 00:03:04,600 --> 00:03:08,960 Speaker 2: our transactions and looking for anything that's unusual because we 73 00:03:09,080 --> 00:03:11,120 Speaker 2: may be the first or one of the first to 74 00:03:11,280 --> 00:03:13,560 Speaker 2: find something new so that it will help others. 75 00:03:13,680 --> 00:03:15,320 Speaker 1: Good stuff. Nice to talk to you, clire As always 76 00:03:15,360 --> 00:03:18,720 Speaker 1: clear Matthews, Doctor Claire Matthews, Massa University. Rocket Money, Glenn 77 00:03:18,720 --> 00:03:19,959 Speaker 1: tells me is one of them that will be meaning 78 00:03:20,000 --> 00:03:21,040 Speaker 1: there's a miniuments. 79 00:03:20,680 --> 00:03:21,000 Speaker 2: Do you do? 80 00:03:21,000 --> 00:03:23,760 Speaker 1: You still have a Neon subscription as well as your Sky? 81 00:03:23,840 --> 00:03:26,040 Speaker 1: I was watching a bit of Neon yesterday finally enough. 82 00:03:25,919 --> 00:03:27,600 Speaker 2: So why do you do that? Why do you have 83 00:03:27,639 --> 00:03:28,919 Speaker 2: Neon as well as the Sky? Now? 84 00:03:28,919 --> 00:03:30,799 Speaker 1: I had an answer for that, and I can't remember 85 00:03:30,840 --> 00:03:33,480 Speaker 1: what it was, but when I came up with the answer, 86 00:03:34,120 --> 00:03:38,240 Speaker 1: it was something about express I get it earlier on Neon, 87 00:03:38,280 --> 00:03:40,240 Speaker 1: you'll get it earlier than on Sky. I think was 88 00:03:40,240 --> 00:03:43,320 Speaker 1: the answer. Here's his confession, and just like that, you 89 00:03:43,400 --> 00:03:46,320 Speaker 1: know the program, And just like that, I actually like it. 90 00:03:47,120 --> 00:03:51,160 Speaker 1: This is the sequel to the sequel of Sequelicity. I 91 00:03:51,240 --> 00:03:53,720 Speaker 1: actually like it. I've been watching it and I developed 92 00:03:53,760 --> 00:03:56,000 Speaker 1: a passion for it, and I thought, this is actually 93 00:03:56,080 --> 00:03:58,560 Speaker 1: I mean, there's a lot of it that's shocking, but 94 00:03:58,760 --> 00:04:00,920 Speaker 1: I thought as I watched, I thought, this is actually 95 00:04:01,040 --> 00:04:03,680 Speaker 1: quite a good program. And then I thought to myself, 96 00:04:03,680 --> 00:04:05,520 Speaker 1: I wonder if I should say that publicly, and what 97 00:04:05,560 --> 00:04:06,960 Speaker 1: people will think of me if I did. 98 00:04:07,440 --> 00:04:08,360 Speaker 2: We're about to find out. 99 00:04:08,400 --> 00:04:11,040 Speaker 1: I guess it's all too late now. For more from 100 00:04:11,040 --> 00:04:14,160 Speaker 1: the Mic Asking Breakfast, listen live to news talks. It'd 101 00:04:14,160 --> 00:04:18,080 Speaker 1: be from six am weekdays, or follow the podcast on iHeartRadio.