From The Gear Grinder thread 21/3/2011:
Rabodirects new clause 29 in their T&C. Subclauses and my response in the email text below:
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29.1 You, and not us, will bear all risks in relation to
any unauthorised or fraudulent notice,
documentation or communication given to
us by Electronic Means.
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You are placing all responsibility on the customer even though we are using your electronic banking mechanisms.
So, if your systems are faulty, you bear no responsibility for any loss incurred by your customers?
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29.3 We may, in our absolute discretion and
without incurring any liability, decide not to
act in accordance with the whole or any part
of a notice, documentation or
communication received by us by Electronic
Means.
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You can ignore lawful instructions placed by electronic means without penalty.
So, if I request a transfer to another bank you can ignore this request, not withstanding that it may cause me financial loss?
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29.4 You:
release us from all actions and claims in
connection with us in good faith acting or
not acting on instructions given by
Electronic Means;
indemnify us against all losses, costs and
expenses suffered as a result of any actions
or claims in connection with us in good
faith acting or not acting on instructions
given by Electronic Means,
except where it is conclusively proved that
we acted negligently.
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You offer an internet banking service but do not back this up with support if anything goes wrong?
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Email from Rabo Direct Today
Dear madmaxiii,
On 21 March we advised you of updated RaboDirect Terms and Conditions, to take effect on Monday, 4 April 2011.
The updates included a new Clause 29, designed to address the risks associated with customers instructing RaboDirect in ways other than with their Digipass. The new Clause said that RaboDirect could be liable only if a non-Digipass instruction (one provided by phone, fax, telex or email) does not appear genuine or if RaboDirect is otherwise negligent.
However, we have had feedback from customers concerned about this clause, and, given that all our customers are expected to use their Digipass when instructing us, we will be removing Clause 29 from the updated terms and conditions, effective immediately.
We stress again to all our customers the importance of using our secure site and their Digipass to transact with RaboDirect. Not using your Digipass is more risky. And remember, always keep your Digipass and PIN safe.
You can view the full updated Terms and Conditions here
Kind Regards,
The RaboDirect Team
www.rabodirect.co.nz