Latest news with #ChristopherWalsh
Scoop
3 days ago
- Business
- Scoop
MoneyHub Unveils The Fleeced Kiwi Awards: Exposing New Zealand's Worst Financial Rip-Offs
Press Release – MoneyHub New Zealanders deserve a financial system that rewards trust, not exploits it, says Christopher Walsh, MoneyHubs Head of Research. Auckland, NZ – 1 June 2025 – MoneyHub today launches the inaugural Fleeced Kiwi Awards 2025, affectionately dubbed The Fleecys, a bold initiative to expose and shame the most egregious financial rip-offs plaguing New Zealanders. From sneaky surcharges to predatory scams, The Fleecys spotlight practices that drain wallets and betray trust, demanding accountability and reform in a cost-of-living crisis. Since 2018, MoneyHub has saved Kiwis millions by advocating for fairer financial products. Now, The Fleecys turn up the heat, naming and shaming the worst offenders in 2025. 'New Zealanders deserve a financial system that rewards trust, not exploits it,' says Christopher Walsh, MoneyHub's Head of Research. 'The Fleecys are our rallying cry to expose rip-offs—like a $10.50 ATM fee for a $20 withdrawal or $2.3 billion lost to scams on Meta's platforms—and spark a movement for fairness.' The 2025 Fleecys Winners: A Roll Call of Rip-Offs The Fleecys call out six practices that fleece Kiwis with hidden costs, deceptive tactics, and unchecked scams: Debit and Credit Card Surcharges, including PayWave – For slapping 1–3% fees on everyday transactions, turning a $100 restaurant bill into $102.50. 'Paying extra just to tap your card is a rort,' Walsh fumes. 'Shops must show fees upfront, and regulators need to outlaw these wallet-draining tricks.' Extended Warranties – For pushing $200+ add-ons on a $1,000 TV, duplicating free protections under the Consumer Guarantees Act (CGA). 'Retailers scare Kiwis into buying peace of mind they already have,' says Walsh. 'Know your CGA rights and save your money.' Ticketing Fees – For ambushing fans with 8% 'booking' and 'service' fees, inflating a $200 concert ticket to $218+. 'Fans deserve transparent pricing for the events they love,' Walsh insists. 'These fees should be outlawed.' Administration Fee on Road User Charges (RUC) for Electric Vehicles – For charging EV drivers $12.44 to print a sticker, a 16% markup on a $76 eco-friendly commute. 'This fee is a tax on a tax,' Walsh argues. 'NZTA must modernise RUC to stop fleecing green drivers.' Private ATM Fees – For extortionate charges like $10.50 to withdraw $20, a 52.5% markup. Walsh recounts a personal sting: 'Stranded in Kapiti, I paid $10.50 for $30 cash to catch a bus. That's not an error—it's a rip-off. Operators must lower fees to $2–3.' Meta Platforms – For profiting from scam ads on Facebook and Instagram, costing Kiwis $200 million to $2.3 billion annually. 'Meta's inaction is a scandal,' Walsh declares. 'They must verify advertisers like in Australia to protect vulnerable Kiwis from financial ruin.' A Movement for Change The Fleecys aren't just about naming names—they're a call to action. MoneyHub invites Kiwis to nominate 2026 candidates, share stories with #FleecedKiwiAwards, and report rip-offs anonymously via their secure form. 'Every nomination fuels our fight for a fairer New Zealand,' says Walsh. 'Together, we can force businesses to prioritise transparency and value.' The awards highlight systemic issues, from redundant warranties to scams devastating pensioners, like a Taranaki retiree who lost $220,000 to a Facebook crypto ad. 'These aren't inconveniences—they're obstacles to financial stability,' Walsh notes. 'In a cost-of-living crisis, every dollar counts. The Fleecys empower Kiwis to fight back with knowledge, like checking CGA protections or reporting scam ads.' Why The Fleecys Matter With living costs squeezing households, The Fleecys expose practices that hit hardest when budgets are tight. 'A dairy charging 40 cents for a debit tap or an 8% fee on a family's concert tickets isn't just annoying—it's a betrayal of fairness,' says Walsh. MoneyHub's research, backed by Commerce Commission guidelines and Netsafe data, ensures The Fleecys target widespread, evidence-based rip-offs. Looking ahead, MoneyHub is developing resources to tackle supermarket pricing, a complex issue warranting deeper scrutiny. 'We're committed to transparency at the checkout and beyond,' Walsh promises. 'The Fleecys are a stand against complacency, driving honest conversations between consumers, businesses, and regulators.' Join the Fight Kiwis can shape the 2026 Fleecys by emailing nominations, posting on social media, or submitting anonymous tips. Monthly reviews will culminate in updates by mid-2026. 'Financial literacy is power,' Walsh concludes. 'By exposing The Fleecys, we're arming New Zealanders to reclaim control and build a financial system that works for everyone.' 10 Things to Do Differently with Money in 2025 and 20 Supermarket Ripoffs. About MoneyHub: Since 2018, MoneyHub has empowered New Zealanders with guides and tools to save millions through fairer financial products. The Fleeced Kiwi Awards continue this mission, exposing rip-offs and advocating for a transparent, consumer-focused financial landscape.
Scoop
3 days ago
- Business
- Scoop
MoneyHub Unveils The Fleeced Kiwi Awards: Exposing New Zealand's Worst Financial Rip-Offs
Press Release – MoneyHub Auckland, NZ – 1 June 2025 – MoneyHub today launches the inaugural Fleeced Kiwi Awards 2025, affectionately dubbed The Fleecys, a bold initiative to expose and shame the most egregious financial rip-offs plaguing New Zealanders. From sneaky surcharges to predatory scams, The Fleecys spotlight practices that drain wallets and betray trust, demanding accountability and reform in a cost-of-living crisis. Since 2018, MoneyHub has saved Kiwis millions by advocating for fairer financial products. Now, The Fleecys turn up the heat, naming and shaming the worst offenders in 2025. 'New Zealanders deserve a financial system that rewards trust, not exploits it,' says Christopher Walsh, MoneyHub's Head of Research. 'The Fleecys are our rallying cry to expose rip-offs—like a $10.50 ATM fee for a $20 withdrawal or $2.3 billion lost to scams on Meta's platforms—and spark a movement for fairness.' The 2025 Fleecys Winners: A Roll Call of Rip-Offs The Fleecys call out six practices that fleece Kiwis with hidden costs, deceptive tactics, and unchecked scams: Debit and Credit Card Surcharges, including PayWave – For slapping 1–3% fees on everyday transactions, turning a $100 restaurant bill into $102.50. 'Paying extra just to tap your card is a rort,' Walsh fumes. 'Shops must show fees upfront, and regulators need to outlaw these wallet-draining tricks.' Extended Warranties – For pushing $200+ add-ons on a $1,000 TV, duplicating free protections under the Consumer Guarantees Act (CGA). 'Retailers scare Kiwis into buying peace of mind they already have,' says Walsh. 'Know your CGA rights and save your money.' Ticketing Fees – For ambushing fans with 8% 'booking' and 'service' fees, inflating a $200 concert ticket to $218+. 'Fans deserve transparent pricing for the events they love,' Walsh insists. 'These fees should be outlawed.' Administration Fee on Road User Charges (RUC) for Electric Vehicles – For charging EV drivers $12.44 to print a sticker, a 16% markup on a $76 eco-friendly commute. 'This fee is a tax on a tax,' Walsh argues. 'NZTA must modernise RUC to stop fleecing green drivers.' Private ATM Fees – For extortionate charges like $10.50 to withdraw $20, a 52.5% markup. Walsh recounts a personal sting: 'Stranded in Kapiti, I paid $10.50 for $30 cash to catch a bus. That's not an error—it's a rip-off. Operators must lower fees to $2–3.' Meta Platforms – For profiting from scam ads on Facebook and Instagram, costing Kiwis $200 million to $2.3 billion annually. 'Meta's inaction is a scandal,' Walsh declares. 'They must verify advertisers like in Australia to protect vulnerable Kiwis from financial ruin.' A Movement for Change The Fleecys aren't just about naming names—they're a call to action. MoneyHub invites Kiwis to nominate 2026 candidates, share stories with #FleecedKiwiAwards, and report rip-offs anonymously via their secure form. 'Every nomination fuels our fight for a fairer New Zealand,' says Walsh. 'Together, we can force businesses to prioritise transparency and value.' The awards highlight systemic issues, from redundant warranties to scams devastating pensioners, like a Taranaki retiree who lost $220,000 to a Facebook crypto ad. 'These aren't inconveniences—they're obstacles to financial stability,' Walsh notes. 'In a cost-of-living crisis, every dollar counts. The Fleecys empower Kiwis to fight back with knowledge, like checking CGA protections or reporting scam ads.' Why The Fleecys Matter With living costs squeezing households, The Fleecys expose practices that hit hardest when budgets are tight. 'A dairy charging 40 cents for a debit tap or an 8% fee on a family's concert tickets isn't just annoying—it's a betrayal of fairness,' says Walsh. MoneyHub's research, backed by Commerce Commission guidelines and Netsafe data, ensures The Fleecys target widespread, evidence-based rip-offs. Looking ahead, MoneyHub is developing resources to tackle supermarket pricing, a complex issue warranting deeper scrutiny. 'We're committed to transparency at the checkout and beyond,' Walsh promises. 'The Fleecys are a stand against complacency, driving honest conversations between consumers, businesses, and regulators.' Join the Fight Kiwis can shape the 2026 Fleecys by emailing nominations, posting on social media, or submitting anonymous tips. Monthly reviews will culminate in updates by mid-2026. 'Financial literacy is power,' Walsh concludes. 'By exposing The Fleecys, we're arming New Zealanders to reclaim control and build a financial system that works for everyone.' 10 Things to Do Differently with Money in 2025 and 20 Supermarket Ripoffs. About MoneyHub: Since 2018, MoneyHub has empowered New Zealanders with guides and tools to save millions through fairer financial products. The Fleeced Kiwi Awards continue this mission, exposing rip-offs and advocating for a transparent, consumer-focused financial landscape.
Scoop
4 days ago
- Business
- Scoop
MoneyHub Unveils The Fleeced Kiwi Awards: Exposing New Zealand's Worst Financial Rip-Offs
Auckland, NZ – 1 June 2025 – MoneyHub today launches the inaugural Fleeced Kiwi Awards 2025, affectionately dubbed The Fleecys, a bold initiative to expose and shame the most egregious financial rip-offs plaguing New Zealanders. From sneaky surcharges to predatory scams, The Fleecys spotlight practices that drain wallets and betray trust, demanding accountability and reform in a cost-of-living crisis. Since 2018, MoneyHub has saved Kiwis millions by advocating for fairer financial products. Now, The Fleecys turn up the heat, naming and shaming the worst offenders in 2025. 'New Zealanders deserve a financial system that rewards trust, not exploits it,' says Christopher Walsh, MoneyHub's Head of Research. 'The Fleecys are our rallying cry to expose rip-offs—like a $10.50 ATM fee for a $20 withdrawal or $2.3 billion lost to scams on Meta's platforms—and spark a movement for fairness.' The 2025 Fleecys Winners: A Roll Call of Rip-Offs The Fleecys call out six practices that fleece Kiwis with hidden costs, deceptive tactics, and unchecked scams: Debit and Credit Card Surcharges, including PayWave – For slapping 1–3% fees on everyday transactions, turning a $100 restaurant bill into $102.50. 'Paying extra just to tap your card is a rort,' Walsh fumes. 'Shops must show fees upfront, and regulators need to outlaw these wallet-draining tricks.' Extended Warranties – For pushing $200+ add-ons on a $1,000 TV, duplicating free protections under the Consumer Guarantees Act (CGA). 'Retailers scare Kiwis into buying peace of mind they already have,' says Walsh. 'Know your CGA rights and save your money.' Ticketing Fees – For ambushing fans with 8% 'booking' and 'service' fees, inflating a $200 concert ticket to $218+. 'Fans deserve transparent pricing for the events they love,' Walsh insists. 'These fees should be outlawed.' Administration Fee on Road User Charges (RUC) for Electric Vehicles – For charging EV drivers $12.44 to print a sticker, a 16% markup on a $76 eco-friendly commute. 'This fee is a tax on a tax,' Walsh argues. 'NZTA must modernise RUC to stop fleecing green drivers.' Private ATM Fees – For extortionate charges like $10.50 to withdraw $20, a 52.5% markup. Walsh recounts a personal sting: 'Stranded in Kapiti, I paid $10.50 for $30 cash to catch a bus. That's not an error—it's a rip-off. Operators must lower fees to $2–3.' Meta Platforms – For profiting from scam ads on Facebook and Instagram, costing Kiwis $200 million to $2.3 billion annually. 'Meta's inaction is a scandal,' Walsh declares. 'They must verify advertisers like in Australia to protect vulnerable Kiwis from financial ruin.' A Movement for Change Advertisement - scroll to continue reading The Fleecys aren't just about naming names—they're a call to action. MoneyHub invites Kiwis to nominate 2026 candidates, share stories with #FleecedKiwiAwards, and report rip-offs anonymously via their secure form. 'Every nomination fuels our fight for a fairer New Zealand,' says Walsh. 'Together, we can force businesses to prioritise transparency and value.' The awards highlight systemic issues, from redundant warranties to scams devastating pensioners, like a Taranaki retiree who lost $220,000 to a Facebook crypto ad. 'These aren't inconveniences—they're obstacles to financial stability,' Walsh notes. 'In a cost-of-living crisis, every dollar counts. The Fleecys empower Kiwis to fight back with knowledge, like checking CGA protections or reporting scam ads.' Why The Fleecys Matter With living costs squeezing households, The Fleecys expose practices that hit hardest when budgets are tight. 'A dairy charging 40 cents for a debit tap or an 8% fee on a family's concert tickets isn't just annoying—it's a betrayal of fairness,' says Walsh. MoneyHub's research, backed by Commerce Commission guidelines and Netsafe data, ensures The Fleecys target widespread, evidence-based rip-offs. Looking ahead, MoneyHub is developing resources to tackle supermarket pricing, a complex issue warranting deeper scrutiny. 'We're committed to transparency at the checkout and beyond,' Walsh promises. 'The Fleecys are a stand against complacency, driving honest conversations between consumers, businesses, and regulators.' Join the Fight Kiwis can shape the 2026 Fleecys by emailing nominations, posting on social media, or submitting anonymous tips. Monthly reviews will culminate in updates by mid-2026. 'Financial literacy is power,' Walsh concludes. 'By exposing The Fleecys, we're arming New Zealanders to reclaim control and build a financial system that works for everyone.' About MoneyHub: Since 2018, MoneyHub has empowered New Zealanders with guides and tools to save millions through fairer financial products. The Fleeced Kiwi Awards continue this mission, exposing rip-offs and advocating for a transparent, consumer-focused financial landscape.
Scoop
7 days ago
- Business
- Scoop
MoneyHub Publishes Guide To Replace Kiwibank Airpoints Credit Cards As Partnership Ends
29 May 2025 – MoneyHub, a leading New Zealand financial comparison platform, has released a comprehensive guide to help Kiwibank Airpoints credit cardholders navigate the termination of the Kiwibank and Air New Zealand Airpoints partnership, effective 31 October 2025. The guide, titled " How to Replace Your Kiwibank Airpoints Credit Card: Best Options", outlines alternative Airpoints-earning credit cards, transition tips, and key considerations to ensure cardholders continue earning Airpoints Dollars and Status Points. In late May 2025, Kiwibank announced the end of its Airpoints credit card program due to rising costs and new interchange fee regulations, impacting holders of the Kiwibank Airpoints Platinum Visa and Airpoints Low Fee Visa. From 1 November 2025, these cards will transition to non-Airpoints-earning Platinum Visa or Zero Visa products. MoneyHub's guide addresses the implications of this change and provides actionable solutions for affected customers. Key Highlights from the Guide: Top Picks for Replacement Cards: AMEX Airpoints Platinum: Best overall, with a superior earn rate of 1 Airpoints Dollar per $70 spent, 300 bonus Airpoints Dollars, and perks like lounge access and travel insurance ($195 annual fee). AMEX Airpoints Card: Best no-fee option, earning 1 Airpoints Dollar per $100 spent with no annual cost. ANZ Airpoints Visa Platinum: Ideal Visa/Mastercard option for wider acceptance, earning 1 Airpoints Dollar per $110 spent ($150 annual fee). Alternative Earning Methods: For those opting not to switch cards, Airpoints can be earned through Air New Zealand flights, partner retailers like New World and Z Energy, or travel bookings. Christopher Walsh, MoneyHub Founder, commented: "The end of Kiwibank's Airpoints program is a blow for loyal cardholders, but our guide shows that better options exist. The AMEX Airpoints Platinum Card stands out for its unmatched earn rate and premium perks, making it a seamless and rewarding switch for most users'. MoneyHub's guide also addresses frequently asked questions, such as Airpoints expiry and the value of Kiwibank's replacement Platinum Visa, which offers travel insurance but no Airpoints rewards. The guide emphasises the importance of acting before the 31 October 2025 deadline to maintain Airpoints benefits.
